President Bush's Trickle Down Economics & his Speech to the Pork Producers

President George Bush at Iowa Pork Convention

President Bush's Trickle Down Economics
and his Speech to the Pork Producers

Nipawin - Sunday, June 9, 2002 - by: Mario deSantis

"government of the people, by the people, for the people"

Abraham Lincoln (Gettysburg, Pennsylvania, November 19, 1863)

exults
god of
money
The economic policies supported by the Bush administration are a nightmare and they only appease the ongoing short term interests of the big corporations and their fortunate sons. President George Bush has recently addressed the pork producers in Iowa and his address was a distillation of his presidential agenda to carry on with the gospel of the Free Market system preached by Nobel Laureate Melton Friedman. In this speech to the pork producers, President Bush exults the god of MONEY as he says:

somebody's
going
to find
work

the best way to make sure we've got a strong farm economy and to make sure our economy recovers from the recession is to let people keep their own money. I believe that when you let a person keep his own -- his or her own money, they're going to spend it. And when they spend it, it increases demands for goods and services. And with an increase of demand for goods and services, somebody has got to produce that good and service. And when they produce it, it means somebody's going to find work.

rich
richer
As I read the above excerpt, I immediately thought of the so-called Trickle Down Economic theory focused first in making the rich richer and then letting the trickled down crumbs help the ordinary people. A fast search of the words "trickle down economics" on the Internet took me to the web site managed by Robert Morton and I was captivated by Morton's explanations of today's Free Market and how this Free Market has affected his life.

farm
the
subsidy
We must understand that Bush is making American farming stronger through $190 billion subsidies over ten years. But Senator Fred Thompson has stated that such subsidies

"make farmers increasingly dependent on government subsidies. These policies defy logic and they defy the most basic laws of economics"

while Franz Fischler, spokesman for the European Union, has stated that

"farmers will bring marginal land into production to farm the subsidies."

riches 1%
get the
tax breaks
In this speech, president Bush also prides himself of the $1.35 trillion tax relief package he signed in June 2001, and not happy of having repealed the inheritance (death) tax he now wants the full death of this death tax. The Citizens for Tax Justice states that

"More than half of the Bush tax cuts enacted last year that are scheduled to take effect after 2002 will go to the best-off one percent"

while William H. Gates Sr. (father of Bill Gates, co-founder Microsoft) questions the fairness of the death of the death tax by asking the question

"Is it unfair to tax the accumulated wealth of the richest one percent of households?"

1%
president
President Bush is not for a government of the people, by the people, for the people. President Bush is for a government supporting the best off one percent.

References:

Remarks by the President to the 14th Annual World Pork Expo White House, June 7, 2002 http://www.whitehouse.gov/news/releases/2002/06/20020607-4.html

Trickle-down Economics By Robert Morton http://home.clara.net/robmorton/tli/chap10/trickle.htm

The Lost Inheritance Poem by Robert Morton http://home.clara.net/robmorton/tli/tlipoem.htm

Senate Expected To Pass Farm Bill The Guardian, May 8, 2002 http://www.guardian.co.uk/uslatest/story/0,1282,-1720284,00.html

EU's Fischler slams U.S. for "flunking farm policy reform" European Union, News Release No 28/02, April 30, 2002 http://www.eurunion.org/news/press/2002/2002028.htm

$1.35 trillion tax cut becomes law From Kelly Wallace, CNN White House Correspondent, June 7, 2001 http://www.cnn.com/2001/ALLPOLITICS/06/07/bush.taxes/

Most of Post-2002 Bush Tax Cuts Will Go to Top 1% Citizens for Tax Justice, April 18, 2002 http://www.ctj.org/html/gwb0402.htm

Is it unfair to tax the accumulated wealth of the richest 1% of households? Testimony of William H. Gates, Sr. on behalf of Responsible Wealth before the Senate Committee on Finance, March 15, 2001 http://www.senate.gov/~finance/031501wgtest.pdf

Tax the Wealthy. Why America needs the estate tax. By William H. Gates Sr. and Chuck Collins, The American Prospect, Issue Date: 6.17.02 http://www.prospect.org/print/V13/11/gates-w.html


	President George Bush at Iowa Pork Convention

President Bush's Trickle Down Economics and his Speech to the Pork Producers

Nipawin - Sunday, June 9, 2002 - by: Mario deSantis
	"`government of the people, by the people, for the people`" *Abraham Lincoln* (Gettysburg, Pennsylvania, November 19, 1863)

exults god of money	The economic policies supported by the Bush administration are a nightmare and they only appease the ongoing short term interests of the big corporations and their fortunate sons. President George Bush has recently addressed the pork producers in Iowa and his address was a distillation of his presidential agenda to carry on with the gospel of the Free Market system preached by Nobel Laureate Melton Friedman. In this speech to the pork producers, President Bush exults the god of MONEY as he says:
somebody's going to find work	`the best way to make sure we've got a strong farm economy and to make sure our economy recovers from the recession is to let people keep their own money. I believe that when you let a person keep his own -- his or her own money, they're going to spend it. And when they spend it, it increases demands for goods and services. And with an increase of demand for goods and services, somebody has got to produce that good and service. And when they produce it, it means somebody's going to find work.`



rich richer	As I read the above excerpt, I immediately thought of the so-called Trickle Down Economic theory focused first in making the rich richer and then letting the trickled down crumbs help the ordinary people. A fast search of the words "trickle down economics" on the Internet took me to the web site managed by Robert Morton and I was captivated by Morton's explanations of today's Free Market and how this Free Market has affected his life.



farm the subsidy	We must understand that Bush is making American farming stronger through $190 billion subsidies over ten years. But Senator Fred Thompson has stated that such subsidies
	`"make farmers increasingly dependent on government subsidies. These policies defy logic and they defy the most basic laws of economics"`
	while Franz Fischler, spokesman for the European Union, has stated that
	`"farmers will bring marginal land into production to farm the subsidies."`

riches 1% get the tax breaks	In this speech, president Bush also prides himself of the $1.35 trillion tax relief package he signed in June 2001, and not happy of having repealed the inheritance (death) tax he now wants the full death of this death tax. The Citizens for Tax Justice states that
	`"More than half of the Bush tax cuts enacted last year that are scheduled to take effect after 2002 will go to the best-off one percent"`
	while William H. Gates Sr. (father of Bill Gates, co-founder Microsoft) questions the fairness of the death of the death tax by asking the question
	`"Is it unfair to tax the accumulated wealth of the richest one percent of households?"`

1% president	President Bush is not for a government of the people, by the people, for the people. President Bush is for a government supporting the best off one percent.

*References:*
	Remarks by the President to the 14th Annual World Pork Expo White House, June 7, 2002 http://www.whitehouse.gov/news/releases/2002/06/20020607-4.html

	Trickle-down Economics By Robert Morton http://home.clara.net/robmorton/tli/chap10/trickle.htm

	The Lost Inheritance Poem by Robert Morton http://home.clara.net/robmorton/tli/tlipoem.htm

	Senate Expected To Pass Farm Bill The Guardian, May 8, 2002 http://www.guardian.co.uk/uslatest/story/0,1282,-1720284,00.html

	EU's Fischler slams U.S. for "flunking farm policy reform" European Union, News Release No 28/02, April 30, 2002 http://www.eurunion.org/news/press/2002/2002028.htm

	$1.35 trillion tax cut becomes law From Kelly Wallace, CNN White House Correspondent, June 7, 2001 http://www.cnn.com/2001/ALLPOLITICS/06/07/bush.taxes/

	Most of Post-2002 Bush Tax Cuts Will Go to Top 1% Citizens for Tax Justice, April 18, 2002 http://www.ctj.org/html/gwb0402.htm

	Is it unfair to tax the accumulated wealth of the richest 1% of households? Testimony of William H. Gates, Sr. on behalf of Responsible Wealth before the Senate Committee on Finance, March 15, 2001 http://www.senate.gov/~finance/031501wgtest.pdf

	Tax the Wealthy. Why America needs the estate tax. By William H. Gates Sr. and Chuck Collins, The American Prospect, Issue Date: 6.17.02 http://www.prospect.org/print/V13/11/gates-w.html