Bottom up Economics Same as Socialism Thurgy: Amen. Once the wealth is spread, thereby bringing up once class and the other down, the overall standard of living will deteriorate for the wealthy, thereby reducing the handouts. The socialist approach does not build the economy by creating wealth and jobs. Amercians need to learn to live within their means first. If we are to continue having an economy based on consumer spending then wages must go up. The credit game is over. Why put even more money into the hands of those who already spend carelessly?
2008.10.27 22:28:13 Its funny watching Obama supporters trying to defend the video where Obama talks about redistributing wealth. They say that He is not talking about redistributing wealth, that he is talking about Bottom up Economics. That is the same thing as socialism. This is what Castro used and other socialistic leaders use when they take over. Its the same philosophy that Liberation Theologist use. Bottom Up = Liberation = Socialism. I hope the public is not fooled by this.
Bottom Up Economics is enriching the poor by taking from the wealth. I guess it could also be called Robin Hood economics. This is achieved by taxing the wealthy and giving handouts. This accomplishes creating a lot of lazy people who wait for handouts. The other kind is called Top Down Economics and is the only way to ensure that the American Dream is possible. This is the economic theory, that when you help business owners and corporations out with decreased taxes, they will expand and hire more employees. Thus, ensuring jobs for the non-businessowners.
Sources: nobama.com
