In a free market society,under conditions where the government allows and encourages capital accumulation, rather than trying to destroy it,giving tax breaks to job creators such as businessmen and capitalists means that they are able to save more, which leads to more investment, which leads to more productive expenditure, which leads to more demand for capital goods and more demand for labor. More demand for labor leads to less unemployment and higher average money wage rates. More demand for capital goods leads to more production of capital goods and more supply of capital goods, which leads to a higher productivity of labor which leads to higher average real wage rates which leads to higher standard of living for the average worker in the long run. After a period of adjustment, even workers from a failed auto company will have a higher average standard of living once they find employment in conditions of higher employment and higher average real wage rates,produced by the economic progress of capital accumulation.
“he embraces that silly ‘Trickle Down’ philosophy?”
ALl we need know about the infamous “’trickle down’ philosophy” is that it thinks money is better spent by the people who earned it than by government. It must really get to libs, in the deep, dark moments of the night, when they realize that after all their foofaraw about fairness, after all their regulating and redistributing, wealth is still generated by capital and capital alone. It must get to them that most people still have to make their money by working, and that even if they work unproductively for government ulitimately their wages are thanks to production in the private sector.
It must get to them that however much they damn it, nevertheless they stand at the end of a system of production according to private ownership of the means of production, and that every cent they get comes from said system. However much that system is meddled with from the outside, there still ain’t any other game in town.