Sunday, June 26, 2016
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search


Preview the Paper Preview the Paper

Preview this week's Paper
A limited number of pages are displayed in this preview.
Preview this Week’s Issue ›
Subscribe Today ›

Lost & Found


VideoLost: Yellow Maine Coon named Felix, missing since May 22 from F.M. 536, Floresville. Call if found, 210-365-6305.
*Includes FREE photo online! mywcn.com/lostandfound
Found: Husky on Hwy. 181 in Floresville near Whataburger. Call 210-997-6010.
More Lost & Found ads ›

Help Wanted

Chemical treater truck operator wanted, 2 years experience minimum, must have DOT Class A CDL with hazmat and tanker endorsement. Leave a message at 210-259-7646.
Experienced roofing nailer's helpers needed, well paid. Call 210-392-7099.
More Help Wanted ads ›

Featured Videos





Video Vault ›
TNMCRichardson Chevrolet homeRE/MAX home
You’ve been granted free access to this subscribers only article.

Section A: General News


Editorial: The ‘trickle down’ lie




E-Mail this Story to a Friend
Print this Story
Thomas Sowell
January 8, 2014 | 3,234 views | 5 comments

New York’s new mayor, Bill de Blasio, in his inaugural speech, denounced people “on the far right” who “continue to preach the virtue of trickle-down economics.” According to Mayor de Blasio, “They believe that the way to move forward is to give more to the most fortunate, and that somehow the benefits will work their way down to everyone else.”

If there is ever a contest for the biggest lie in politics, this one should be a top contender.

While there have been all too many lies told in politics, most have some little tiny fraction of truth in them, to make them seem plausible. But the “trickle-down” lie is 100 percent lie.

It should win the contest both because of its purity -- no contaminating speck of truth -- and because of how many people have repeated it over the years, without any evidence being asked for or given.

Years ago, this column challenged anybody to quote any economist outside of an insane asylum who had ever advocated this “trickle-down” theory. Some readers said that somebody said that somebody else had advocated a “trickle-down” policy. But they could never name that somebody else and quote them.

Mayor de Blasio is by no means the first politician to denounce this non-existent theory. Back in 2008, presidential candidate Barack Obama attacked what he called “an economic philosophy” which “says we should give more and more to those with the most and hope that prosperity trickles down to everyone else.”

Let’s do something completely unexpected: Let’s stop and think. Why would anyone advocate that we “give” something to A in hopes that it would trickle down to B? Why in the world would any sane person not give it to B and cut out the middleman? But all this is moot, because there was no trickle-down theory about giving something to anybody in the first place.

The “trickle-down” theory cannot be found in even the most voluminous scholarly studies of economic theories -- including J.A. Schumpeter’s monumental History of Economic Analysis, more than a thousand pages long and printed in very small type.

It is not just in politics that the non-existent “trickle-down” theory is found. It has been attacked in the New York Times, in the Washington Post, and by professors at prestigious American universities -- and even as far away as India. Yet none of those who denounce a “trickle-down” theory can quote anybody who actually advocated it.

The book Winner-Take-All Politics refers to “the ‘trickle-down’ scenario that advocates of helping the have-it-alls with tax cuts and other goodies constantly trot out.” But no one who actually trotted out any such scenario was cited, much less quoted.

One of the things that provoke the left into bringing out the “trickle-down” bogeyman is any suggestion that there are limits to how high they can push tax rates on people with high incomes, without causing repercussions that hurt the economy as a whole.

But, contrary to Mayor de Blasio, this is not a view confined to people on the “far right.” Such liberal icons as Presidents John F. Kennedy and Woodrow Wilson likewise argued that tax rates can be so high that they have an adverse effect on the economy.

In his 1919 address to Congress, Woodrow Wilson warned that, at some point, “high rates of income and profits taxes discourage energy, remove the incentive to new enterprise, encourage extravagant expenditures, and produce industrial stagnation with consequent unemployment and other attendant evils.”

In a 1962 address to Congress, John F. Kennedy said, “it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.”

This was not a new idea. John Maynard Keynes said, back in 1933, that “taxation may be so high as to defeat its object,” that in the long run, a reduction of the tax rate “will run a better chance, than an increase, of balancing the budget.” And Keynes was not on “the far right” either.

The time is long overdue for people to ask themselves why it is necessary for those on the left to make up a lie if what they believe in is true.

Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University. His website is http://www.tsowell.com. Copyright 2013 creators.com
 

Your Opinions and Comments

 
The Marcelina Muse  
Dry Tank, TX  
January 13, 2014 11:36am
 
If Thomas did reply many would not understand.

 
PRAIRIE GROUCH  
GRAND PRAIRIE TX  
January 11, 2014 4:48pm
 
Facts only Please.....Since your comment was addressed to Thomas, do you ever get a reply from Mr. Sowell ? If not, it might be the same as talking to yourself.

 
Chief Noetall  
Wise, Texas  
January 11, 2014 4:38pm
 
Facts only Please......Is is important to you if the horse walked, trotted or ran to town. He still went to town. :) Kemo Sabe.

 
Bob Pritts  
St Hedwig, TX  
January 11, 2014 3:15pm
 
Facts Only, Fact: President Kennedy did say this in 1962. As a matter of fact he said it in differing wording in 1962 and 1963. What was your point? Once again you've made yourself look petty to anyone with a brain!

 
Facts only please  
TX  
January 8, 2014 1:28pm
 
Thomas, you are incorrect in stating that Kennedy, in a 1962 address to Congress said "it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues ... More ›

Share your comment or opinion on this story!


You must be logged in to post a comment.




Not a subscriber?
Subscriber, but no password?
Forgot password?

Section A: General News Archives


Full article available to Wilson County News subscribers only. Click here to subscribe. A look at area’s reptilian past and present (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Council meets ‘the enforcer’ (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Crime Stoppers celebrates 35th year (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Donsbach resigns from school board (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: The challenges, rewards of fatherhood (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Will the tragedy in Orlando, Fla., change anything? (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: ‘I have had enough! Will you take a stand with me?’ (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Former Ranger Whitman leads DFPS (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Free entry to historic sites for military (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Indianhead Division plans national reunion (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Jehovah’s Witnesses set for July convention (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Fond memories of Floresville’s ‘fast food’ hangouts (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Let the dead rest in peace (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Recusal proper (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Floresville Convention, Tourist & Visitors Advisory Board (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Wilson County Memorial Hospital District (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Peanut issues spur Kellogg snack recall (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Pipeline-security course in Beeville (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Relief from the heat (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. SISD board pays off $123K balance (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Students make dollars make sense (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Tax watch (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Time Warner gets Floresville-area Internet back in action (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. USDA Housing Seminar (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. WC Republican Party plans social (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. You are self-insured (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Antonio Coy’s grave gets Texas Ranger Cross, Marker (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Attend free Elder Fraud Summit (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Burning question for Stockdale officials (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Display a kind spirit (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: floresvilleparksfoundation.com is live (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: People did ‘say something’ in Orlando, but to no avail (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. FEDC will sell bond for city parks when time is right (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville closes in on parks plan implementation (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Former Texas Ranger receives long-awaited dedication (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Foundation seeks donations (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Get greenhouse-building tips from the Master Gardeners (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Giant gator causes alarm (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. GVEC to meet June 24 (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Jubilee to honor Vicki Wehmeyer (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Judge Jackson queries DA’s budget (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Crazy J Rodeo, Crouch family express gratitude (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: From the Pastor’s desk (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Property destruction … is not a civil matter (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Local EMS personnel assist flood victims in Brazoria (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Lone Star Greys plan June meeting (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meet Dr. Fisher at the driving range (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: ESD No. 3 (Stockdale-based) (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Falls City ISD (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: La Vernia City Council (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Poth ISD (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Stockdale City Council (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Pastor travels to promote public prayer (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Poth trail gets $200K Parks and Wildlife grant (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Tickets, tables available for Casino Night (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Vehicle drives discussion (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. WCRP cancels July meeting (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Win a lifetime license! (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. A home of their own: Sandy Oaks preps for move (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Audit reveals conservative management (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Be smart during, after floods (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. China Grove faces ‘dog bone’ of contention (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. County jail passes inspection (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Crime Stoppers reaches out, educates community (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editor: Bloggers have misconception of economic development (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: As Dems and Republicans continue internal struggles (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: The great promise of socialism is something for nothing (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floodwaters strand man in tree (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Invest in Chandler (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Anti-gun hypocrites run amok on Capitol Hill (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Hurd sides with establishment politicians (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Update: Wilson County Commissioners Court (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Mission supporters seek votes for grant (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. One student remains missing, second girl reported found (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Sauceda earns degree in criminal justice (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Sports Boosters seek new members (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Spring rains saturate area (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Texas Guard to conduct annual training across state (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Vehicle burglars plague Nixon (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Wilson County employees ‘Walk Across Texas’ (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Adkins man faces child porn charges (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Alamo receives digital makeover (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. CDC names best mosquito repellents (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. City replaces hydrant after firefighters find it unusable (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Dollar General gives grants to libraries (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Donate blood in June (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Slick college commencement speeches, toxic rhetoric (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Texas should join conversation about climate risk (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Trump’s over the hump, Sanders persists, Hillary … is a Clinton (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Eight-liner parlors remain closed (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Flag-raising event (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville council hints at replacing city appointees (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville police ramp up ‘Click It or Ticket’ program (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Fowler wins constable runoff (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Free disaster training June 11 (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Free senior fitness classes (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Help locate missing Floresville High School girls (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Homeowners seek fire, EMS protection (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Hubbard to set high expectations for the EC football program (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Insurance for young couple (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Jobless numbers fall (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Legal aid clinics for vets (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Location change for Parkinson’s Support Group (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Floresville Electric Light & Power System (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Poth ISD welcomes new staff members (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Quintanilla found guilty of aggravated assault (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Second responders to meet (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Three Oaks Center meeting canceled (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Trammell to lead livestock show board (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. UIW’s new Direct Admit Health Professions Program starts this fall (June 1, 2016)