Trickle Down Economic Irresponsibility

Throughout the past couple months, especially after the time the stock market started to crumble I would read articles and blogs blaming poor folks for taking out mortgages they couldn’t afford and irresponsible consumers with bad credit. This is who they blamed for the problem with the economy. I will get down on my knees and beg to differ.

Our nation for nearly the past thirty years was operating on “Reaganomics,” and the trickle down economic theory. In layman’s terms Reaganonmics give tax breaks and deregulate corporations to achieve in business and this will trickle down to the middle income sector and further. All though we have seen a boom over the past thirty years in materialism what happened is big business kept most of what they achieved for themselves and passed down very little to Middle America. We watched corporate CEO’s get stinking rich and in many cases Middle America spent themselves into debt to emulate.

Over the past eight years of the Bush administration fewer regulations were put on large corporations and these corporations did not have to be responsible for their money or how they treated the consumer. They were allowed to get away with almost anything and as some suspect today, crime. Even after bail out money was given to financial companies in trouble, these financial companies used for some very unsavory business. One example I learned yesterday was Bank of American used their government bailout money for the Republican campaign. So to all you Democrats out there in the internet abyss, Bank of American used your tax dollars to fund the Republican Party who is greatly responsible for the economic mess we are into today. Let me reiterate, Bank of American used government money to buy back government favor. This is called corruption. This is not only gross irresponsibility, this is shameful and a slap in the face to the American public.

So when our corporations are not spending their funds wisely and our government “loses” track where the bailout money is going and not holding corporations accountable for how they spend it, how the heck can anyone place the blame on the America consumer. The American consumer is just like a young child following the lead of their parents. The moral of the story is if you spend without a conscious and your heart is filled with greed and materialism at some point it will catch up with you. And for those of people who champion Reaganomics and the “Trickle Down” theory, congratulations it worked.