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The neo-liberal agenda plans for economic development using the trickle
down approach. In this way, President Bush in 2003 was able to seek tax
cuts for the very rich and appeal to the theory of "trickle down"
growth.
But the statistics do not support the notion that tax cuts necessarily
increase investment, the supposed first step in the trickle down theory.
The graph of Investment/GDP Radio and Share of the Corporation Income
Tax shows a steady decline in corporate taxation as a percent of total
taxation from 1955 to 1985, yet there does not appear to be a
corresponding increase in investment (as a percentage of GDP) except for
the years from 1976 to 1980.
As the amount of natural and human resources varies from block to block,
separate economic plans have to be made for each and every block by a
block-level planning board. Such a board should prepare a plan for
development of the block and implement or see to the implementation of
local developmental programmes.
Prout distinguishes short and long term planning. The two types of
planning differ not only in time scale but in their objectives. The
goals are:
- Guarantee minimum requirements of the local people.
- Eliminate unemployment.
- Increase purchasing capacity.
- Make socio-economic units self-sufficient.