Reply #4: Actually, David Stockton was Reagans budget director...

[whistle]

...and he was appalled at the application of the "Trickle-Down" principles. The real voo-doo economic advisors were three advocates who have pretty much been discredited by the mainsteam of economic thought.

Supply-side economics is a school of economic thought popularised in the 1970s by the ideas of Robert Mundell, Art Laffer and Jude Wanniski. The term was coined by Wanniski in 1975. In 1983 economist Victor Canto, a disciple of Arthur Laffer, published "The Foundations of Supply-Side Economics".

Supply-side economics although proven to be totally bogus in its claims, never-the-less is what we now have because it clearly benefits the wealthy at the expense of the middle class and the poor.

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http://www.rationalrevolution.net/trickle_down.htm