Bill Gates, Al Sharpton and Trickle Down Economics

One of the countless annoying things about MSNBC is the self righteous promotional spots featuring diatribes from several of their commentators. Al Sharpton's is particularly confounding. His rant is a critique of "trickle down economics". A pejorative for supply side economics pioneered by the Ronald Reagan administration. Supply side economics involves the reduction of top marginal tax rates and reduced regulation in order to boost economic activity. Reagan's policies created the second biggest peacetime recovery in US history with a net jobs increase of over 21 million. Reagan was able to bring down the unemployment rate to 5.4% from a high of 10.8% during the recession of 1982. Many companies benefited from the Reagan era boom and were able to take advantage of our vibrant capital markets. One such company was started by a geeky Harvard dropout named Bill Gates which went public in 1986 creating 12,000 millionaires along the way. Microsoft as we know would go on to revolutionize the way we live and conduct business and make Bill Gates a billionaire and one of the richest men in history. Microsoft would expand its brand into cable television and create a partnership with NBC called MSNBC. In early 2012 Mr. Sharpton was given his own low rated show on the network, Politics Nation which reportedly pays him a seven figure salary . In addition, the Reverend earns a reported $700,000 a year from his gig as host of his syndicated Radio show 'Keepin it Real'. Sharpton's employer and radio syndicator is publicly held Radio One, headed by media mogul Cathy Hughes.

  Sharpton's non-profit National Action Network (NAN) boast some heavy hitter corporate donors. American Honda Motor Company, Coca-Cola, Ford Motor Company, Home Depot, McDonald's and Wal-Mart, plus recent arrivals such as Facebook and Mars are just a few. The good Reverend also pulls down about $240,000 a year from NAN. Sharpton's willful ignorance of supply side economics is the ultimate irony. He fails to acknowledge how he has benefited handsomely from the success of not one but two very wealthy entrepreneurs. In the aforementioned MSNBC promo piece, sharpton exclaims "we've experienced the down, but not the trickle". We? Speak for yourself  Al. From where I sit, $2 million dollars a year is an awful lot of trickle.

Comments

Post a Comment

Popular posts from this blog

The Legend Of The Unarmed White Man (Revised)

Image
The August 2014 shooting death of unarmed black teen Mike Brown in St. Louis by a white police officer and the subsequent decision by the grand jury not to indict has brought unrest to American Streets. The protestors feel that police are shooting and killing mostly unarmed black men at alarming rates. Many also believe that police interaction amongst white's is all together different due to the benefits of "white privilege". "If that had of been a white man..." is a common refrain from blacks when speaking of a negative experience with a white police officer. The media plays an integral role in these perceptions by continuously assaulting us with images of black victims and white perpetrators. In light of the Brown incident and other controversial shootings this year, the adjective attached to these perceived victims is "unarmed". The term is a staple in the lexicon of the American media which h...
Read more

BP Crisis Brings Out Radical Left

Image
Once again the left, with the help of Jesse Jackson shows its ignorance of and hatred for capitalism. The BP crisis which began with the explosion of an offshore oil rig which resulted in a fire that killed 19 people. The pipe located one mile undersea began to spew oil into the gulf and has for over fifty days now. The Reverend has been for weeks calling for a boycott of BP. Now comes word that several BP stations have been vandalized. The fact that such vitriol and anger results from what was clearly a tragic accident is surely tragic in itself. Someone should explain to the reverend that oil companies exited the gas station business years ago. The stations are by and large owned by franchisees and independent operators who squeeze out razor thin margins on gasoline-hence the reason for the lottery tickets, potato chips and soft drinks that has become a staple of these often family owned businesses. To make matters worse, the Rev. Jackson stated that "the mom and pop stations a...
Read more

Blacks Only Field Trip Revealing

A Michigan elementary school Principal took group of 5th grade students on a field trip to hear a speech by an African American rocket scientist. The only problem: he only took the black students. This incident for this blogger has much larger revelations other than the obvious. This Principal is the prototypical example of the dangers of a left wing education. A huge problem among blacks specifically is their ability to practice discrimination and segregation while simultaneously preaching "equality" and "inclusion". Dicken Elementary School Mike Madison took a group on black students, part of a group known as the African American Lunch Bunch to hear a black rocket scientist speak. The fact that there is such a group at a such a racially diverse school is troubling. Needless to say, the outrage would be manic if a white organization existed and engaged in the same exclusion of black students. In the black left wing mind, discrimination and racism are acceptable ...
Read more