Reagan would have been better advised to message harder on the "rising tide lifts all boats" description, because indeed that's what it does.
The term "trickle-down economics" was originally used to describe the tax cuts and reforms put into law by Reagan and the Democrat congress he worked with. Reagan was able to work with the Dems back in the day because the Dems:
- were not the extreme ideologues they are today
- were not quite as ill-informed about how the world works as they are today
Now we have a president who believes in a completely different economic theory: trickle-sideways economics. Trickle sideways is the economic theory of giving money to your friends and supporters so they will continue to befriend and support you, and if they spend some of that dough on the rest of us, well, all the better. The basic tenets of trickle-sideways economics are:
- give union members jobs so they can go out and buy cheap Chinese crap to ensure the middle-man class stays solvent
- give union members jobs so more money can be put in Democrat coffers, thus insuring more money for union jobs
- insult and ignore the vast majority of Americans who don't work union jobs and offer no real reform of the tax and trade codes to give those Americans an actual chance to succeed
Let the economic engine of the American people loose and the Federal, state and local governments will make enough money (even under the current horrible tax code) to buy Mercedes-Benz firetrucks and truffles for lunch for all of those little kids on the federal school lunch program.
We've allowed the members of the intelligentsia class to mock trickle down economics because they don't understand it, while we've let them shove trickle sideways economics down our throats because the theory is sympathetic to their cause.
Brilliant job America.