Obama Admits Trickle Down Works

In case you missed it, Obama said during the last debate that trickle down economics actually works.

In a response to the question about how the bailout will help the average person, Obama said, "Well, Oliver, first, let me tell you what's in the rescue package for you. Right now, the credit markets are frozen up and what that means, as a practical matter, is that small businesses and some large businesses just can't get loans.

If they can't get a loan, that means that they can't make payroll. If they can't make payroll, then they may end up having to shut their doors and lay people off.

And if you imagine just one company trying to deal with that, now imagine a million companies all across the country."

Following that logic, lowering taxes for businesses, such as the capital gains tax, will result in more jobs, and raising the capital gains tax will result in less jobs. Right, Senator?