“The money was all appropriated for the top in hopes that it would trickle down to the needy. Mr. Hoover was an engineer. He knew that water trickled down. Put it uphill and let it go and it will reach the dryest little spot. But he didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night anyhow. But it will at least have passed through the poor fellow’s hands.”
Will Rogers – 4 December 1932
The first time I remember hearing about “Trickle Down” policy was from David Stockman in the Reagan administration and of course the GOP has been pushing it ever since. I wasn’t aware that Hoover was the first president to try it. Thanks Will for informing me of that fact. Why do we allow this idiotic concept to even exist today? As Will says money, unlike water, runs uphill and will end up soon enough in the 1%er’s off shore bank accounts. Let’s pass it through the hands of the guys to need it first.