John Tamny has a new piece out today:
Trickle-down is a hoax? Let’s be serious. If by trickle-down we mean that all of our lives get better the more that individuals grow exceedingly rich, then it must be said that trickle-down quite simply is. To deny its reality amounts to willful blindness. And it’s more than trickle down. It’s realistically a flood. As the definition of rich surges into the stratosphere, the lives of everyone improve markedly. Life would be unrelentingly cruel without the rich, whether earned or inherited.