“If
you got money, and you know it
Take it out your pocket and show it
Then throw it like
This a way (uh huh)
That a way (uh huh)...”
Take it out your pocket and show it
Then throw it like
This a way (uh huh)
That a way (uh huh)...”
Those
were the words that I heard blaring from the stereo of a late model
Chevy Impala on my drive home one day. The car had two
distinguishable characteristics. It had huge wheels with spinning
rims, and a paint job that depicted an epic battle between the
Teenage Mutant Ninja Turtles and
their main nemesis Shredder (seriously,
you can't make that shit up). The wheels were so large in comparison
to the size of the car that it looked like a giant roller skate.
Once
I got past the aesthetics of the vehicle, I started to think about
the lyrics of the song that I heard. They were contrasted with what
was emitting from the speakers in my car. I was listening to “All
Things Considered” on National Public Radio.
The story was about the Republican primary election. The two front
runners, Mitt Romney and Rick
Santorum, were debating the practice of trickle-down economics during
the Reagan administration in the 1980's. They both took turns giving
a metaphorical hand job to “The Gipper” (a literal one would be
deplorable and really hard to do without access to a backhoe). They
also shot many a verbal arrow toward Barack Obama and his 2008
campaign comments about how the “old
trickle-down theory has failed us."
A
quick explanation of the the trickle-down theory is as follows: It is
an
economic theory which states that investing money in companies and
giving them tax breaks is the best way to stimulate the economy
(www.investopedia.com).
In the 1980's, “Reaganomics” was born. It took that theory and
expanded it to include decreased social spending, increased military
spending and the deregulation of domestic markets. Basically, it
said that if you lower the taxes for corporations and the higher
income earners that run them, eventually the money will
“trickle-down” to the consumers and other people with lower
incomes.
The
opinion of Barack Obama and many other Democrats is that the theory
is flawed and is only “thinly veiled social Darwinism.” This
being NPR,
they showed a thinly veiled bias toward the Obama camp on the
subject. Obama went on to aim his comments at Rep. Paul Ryan
(R-Wis) by saying, "For much of the last century, we have been
having the same argument with folks who keep peddling some version of
trickle-down economics," He said, "They keep telling us
that if we'd convert more of our investments in education and
research and health care into tax cuts, especially for the wealthy,
our economy will grow stronger." That being said, I don't
really have anything to say about the discussion or rhetoric.
However, I do have an idea of my own.
I
call it the “Make it Rain” theory of economics. Instead of
giving tax breaks to corporations or on the capital gains that
investors have received since the 1980's, I propose we give tax
breaks to monies earned from rap record sales. No other subset of
American multimillionaires has shown a similar affinity for spending
money on goods and services with reckless abandon. I return to the
words of Lil' Wayne in his song “Got Money.” If he has more
money, he will most surely know it, and he will in turn take it out
of his pocket and show it. It will “trickle-down” as he “makes
it rain” this a way and that a way (uh huh).
Once
the “make it rain” tax policy is enacted, a satisfied young
gentleman named Soulja Boy will wake up the next morning, hop up out
of his bed, turn his “swag on”, take a look in the mirror, say
“what's up” and announce to his accountant, “Yeah, I'm getting
money!”
The
industries that would see the quickest jump in consumer activity
would be jewelry stores, strip clubs and car dealerships. “Big
timers” will fill their closets with Gucci suits, gator boots and
Coogi sweaters (ironically, the Big Tymers will have moved on to more
expensive brands). More precious gems and metals will be invented by
alchemists. Their funding will come from the likes of Jay-Z and
Kanye West. They might have “99 Problems”, but a luxury tax
wouldn't be one. Sales of Escalades and Hummers will skyrocket, and
the American companies that make them will need to hire new employees
to keep up with the demand.
The
economic effect will be immediate and sustained. That is, until we
experience a downturn in the country's interest in rap music. At
that time, we may have to expand it to include the earnings of boy
bands. Hopefully that cycle is at least another fifteen to twenty
years away. I'm still getting those N'Sync songs out of my head from
the last great musical depression.
I
just solved the economic crisis, you're welcome. Vote D3P in 2012!