White Trash: The 400-Year Untold History of Class in America

by Nancy Isenberg

He assured that slavery benefited all classes. Giving the mudsill theory an emphatic endorsement, he declared that “no white man at the South serves another as his body servant to clean his boots, wait on his table, and perform menial services in his household!” Besides, he wrote, wages for white workers were better in the South, and land ownership was more dispersed—which was patently untrue. He went on: class mobility was possible for nonslaveholders who scrimped and saved to buy a slave, especially a breeding female slave, whose offspring were “heirlooms” to be passed on to the next generation. If his promises of trickle-down economics were unconvincing, De Bow tacitly confirmed that slaves’ elevation meant nonslaveholders’ utter degradation. For these reasons, he said, the poorest nonslaveholder would readily “dig in the trenches, in defense of the slave property of his more favored neighbor.” Fear of dropping to the level of slaves would lead poor whites to fight.24

Trickle down economics wasn't true then, wasn't true when Reagan propounded it, and still isn't true now. Just like racist fearmongering, though, it still serves to protect the wealthy.