A term describing the faulty logic of Reaganomics. Also known as trickle down, the theory is that if you reduce income (i.e. cut taxes) then you somehow generate more revenue. Obviously, this is not rational thinking.
The proof that this did not work (as if anyone needed it) is the fact that the national debt tripled during the Reagan Administration.
The proof that this did not work (as if anyone needed it) is the fact that the national debt tripled during the Reagan Administration.
by Charles_U_Farley November 22, 2010