Trickle down or shake down?

By happenstance I put on a Bruce Cockburn CD last night while I was thinking about how to capture my thoughts on the recent U.S. debate over their debt ceiling and a report issued by the Conference Board on income inequality in Canada.

By happenstance I put on a Bruce Cockburn CD last night while I was thinking about how to capture my thoughts on the recent U.S. debate over their debt ceiling and a report issued by the Conference Board on income inequality in Canada. The title for my column comes from Cockburn’s song Trickle Down in which he mocks the promise of this economic theory. I know, I need to get a real life. The crux of the debt debate in the U.S. revolves around how to balance spending cuts with tax increases. A debate we desperately need to have in B.C. What troubles me is the contention by the Republicans that the government shouldn’t “tax the job creators” and President Obama’s apparent readiness to concede to this four-decade-long shake down in the name of trickle down.

Their ain’t no trickle down. The people who aren’t getting taxed continually shake down politicians with their trickle-down argument while fully expecting taxpayers to bail them out when their economic schemes fail. The most recent trillion-dollar bailout of the financial sector in the US is a classic example of this shake down: deregulate to “free” the market, detax to “free” investment capital, turn a blind eye to the excesses of greed and the failure of the regulators, then cut a cheque from those who do pay taxes to cover only the “job creators” losses when their house of cards crashes down and tens of thousands of people lose their jobs, homes and savings.

It’s a giant scam at the expense of the middle class, which represents the bulk of the population and where the real job creators reside (small and medium sized businesses create over 80 per cent of all new jobs).

The Conference Board of Canada report on income inequality shows there’s been no “trickle down” to the bottom income earners. This is especially true for seniors, youth, women and the underemployed, who have to cobble together multiple jobs to keep food on the table.

Many other studies show it’s really only the top two per cent who are benefitting from a deregulated, anti-tax regime — the same people politicians have been convinced not to tax and the ones who are selling trickle down theory to the rest of us.

Bob Simpson is the Independent MLA for Cariboo North.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Cariboo North MLA Coralee Oakes shared this photo of the binders and binders of letters and paperwork she’s received on area roads in the past few years. (Submitted photo)
Cariboo MLAs call on province to fix region’s roads

Minister Rob Fleming said more resources were on the way to the region

Royal Canadian Legion Branch 139 president David Brideau salutes the Cenotaph at city hall during a past Remembrance Day services in Williams Lake Monday, Nov. 11. Brideau, who served three years with the Canadian military in Edmonton, was the parade commander during the Legion’s Remembrance Day service. (Angie Mindus file photo - Williams Lake Tribune)
Williams Lake legion looks to upgrade lounge, patio, to be COVID compliant

Upgrades will require significant financial investment, Branch 139 president David Brideau said

Williams Lake’s Daine Dubois (left) and 150 Mile House’s Isaac Bedford have been named as recipients of the 2020 Premier’s Award for Indigenous Youth Excellence in Sport. (Tribune file photos)
Two Cariboo athletes honoured with Premier’s Award for Indigenous Youth Excellence in Sport

“You have honoured the province, your nations, and your families.”

A worker at Gibraltar Mine north of Williams Lake. (Taseko Mines Ltd. photo)
B.C. Mining Month celebrates innovation

Mining has long been important to the Williams Lake economy

(The Canadian Press)
Trudeau won’t say whether Canada supports patent waiver for COVID-19 vaccines

‘Canada is at the table to help find a solution’

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

A map showing where the most number of cases were recorded from April 23 to 29. This map, revealing a breakdown of infections by neighborhood, was pulled from a data package leaked to the Vancouver Sun last week (and independently verified).
36 Abbotsford schools flagged for COVID-19 exposures in the last 2 weeks, shattering record

Clearbrook Elementary recorded an ‘exposure’ on all 11 school days

Canada’s chief public health officer is reminding Canadians even those who are fully vaccinated are not immune from transmitting the COVID-19. THE CANADIAN PRESS/Adrian Wyld
Canada’s top doctor warns full vaccination does not equal full protection from COVID-19

Post-inoculation, Theresa Tam says the risk of asymptomatic infection and transmission is far lower but not obsolete

The dash cam footage, taken May 7 at 8:18 a.m. belonged to the driver of a southbound vehicle that recently travelled out of the tunnel. (Reddit/Screen grab)
VIDEO: Dash cam captures dramatic rollover crash on Highway 99

Only one person sustained injuries from the collision, says B.C. Ambulance Services

Chevy stranded on a ledge above a rocky canyon at Mimi Falls near Logan Lake, April 28, 2021. (Photo credit: Margot Wikjord)
Police officer and fire chief team up in risky rescue of stranded dog near Logan Lake

Chevy, a rescue dog, needed rescuing again after getting stuck on a ledge above rocky canyon

Police were on the scene of a fatal shooting in Abbotsford. (Black Press Media files)
B.C. government to give more than $8 million for programs to curb gang violence

221 not-for-profit projects led by local governments and school districts among others will receive a one-time grant

Gord Judson steers his log truck down a forest service road, using two-way radio and call signals to mark his position for oncoming traffic. (B.C. Forest Safety Council)
Planning some B.C. wilderness fishing? Don’t catch a log truck

Remote recreation areas bracing for heavy pandemic pressure

Most Read