An.other one
Another one
Daily Beast??? Come on!!!
George W. Bush killed Reaganomics with his New Tone in Washington and Compassionate Conservatism.
Idiot. The Kennedy Tax Rate Cuts cut the top rate from 90% to 70%. The top rate in 1974 was 70%.
The rest of this thing is a tissue of lies and tendentious adjectives.
Michael Tomasky sounds like an economics moron.
No economist ever espoused anything called “trickle down economics.” The point about taxes is that they affect the incentives people have to invest their wealth. High taxes encourage the wealthy to protect their wealth in havens, or buy tax-free bonds; they discourage the wealthy from investing in productive enterprises that have higher risk but which also create jobs in the process of earning them a return.
Additionally, if you’ve read about “Hauser’s Law”, you’ll note that irrespective of how high tax rates are, government always gets about 20% of GDP. Tax rates don’t affect how much revenue goes to government, but they do affect the size of GDP: lower tax rates correlate to higher GDP; higher tax rates with lower GDP. Therefore, by raising tax rates, government actually gets less revenue because it’s getting 20% of a smaller economic pie.
A few months ago, Thomas Sowell wrote an interesting essay on the myth of “trickle down economics”, which you can access here:
http://www.tsowell.com/images/Hoover%20Proof.pdf
the idea that government must invest in the middle class and not the rich. It’s middle-out economics instead of trickle-down, and it won last week and will keep on winning.
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Oh yeah, a real winner. That is until the middle class and the poor are sitting equally miserable waiting on their health care. Begging for a treatment that can’t be justified financially
We can watch the waiting room TV with all the altruistic liberals flying off to have have their medical care elsewhere or watch them sipping champagne and talking about all the good they do for the little people.
Not much will change for the rich... although they may bless us with a few sighs of pity. The media can take photos and document our misery, so that they may win some coveted prize or whatever.
moochernomics
The economic doctrine of Freeshit won.
The economics of Santa Clause doesn`t “win” a strong economy, because like all forms of crony capitalism, it systemically picks winners and losers.
But it wins elections, because Americans like getting free stuff in their hands. They don`t give two sh*ts about the long-term ramifications of high unemployment, low wages and lessened expectations, because... well... they got some free stuff.
Striving for the long-term prosperity rewards through hard work and perseverance is seen as a last-century value ... anachronistic and at 180-degree odds with the gimme-summa-dat mentality of today.
Government “investment” was initially a euphamism for increased taxes. Oh, the Dems would like to increase tax RATES on the wealthy, to nail the coon skin on the barn for subsequent election campaigns, but they won’t realize any more revenue. We are so far beyond the maximum effective tax rate that an increase in tax rates is only going to further decrease economic activity. That leaves 2 alternatives: Printing Money (Ben Bernake) and increased borrowing to fund the “Grand Canyon” of budget shortfalls. (If we had a budget).
Obama won by 9.5 m in ‘08; currently ahead by 3.5 m. He lost 2/3 of his margin governing as he did. Plus, this really was the triumph of his community organizing “skills(?)” turning out 10,000- 0 precincts. Apparently the “white youth vote “ caught on to the corruption of identity politics, can only hope the Asian vote won’t be far behind.
Why do we let the free enterprise system be labelled “capitalism” or “trickle down.”
BECAUSE WE LET THE LEFT DEFINE US.
You can’t kill truth. You can, for a time, suppress it, or hide it, or distort it - but you can’t kill it.
What “middle out”???
Them there “middle” went to China under Clinton.
Tomasky, like all lib-leftists, is an ignoramus and a tremendous liar. Lib economics, based on socialist command-type economics, have always been huge failures. “Trickle down” economics is a lie cooked up the typical lib-leftist suspects like Tomasky. Everybody benefits from lower across the board rate cuts. Everybody loses when taxes are raised.
1. There is no such thing as “trickle down economics” and these liberal commentators know it.
2. Romney was not preaching Reaganomics. (They know that too.) Reagan was promising large tax cuts across the board. All Romney promised was not to raise taxes.
3. As this propagandist knows, supply side was not rejected. It was not on the ballot.
4. Obama may have prevailed in the vote, but that just means Obamanomics will collapse sooner. The people want growth and all Obama will give them is stagnation. Then they’ll want some pro-growth policies.
5. Romney is a liberal Republican who increased the size of government in Massachusetts. He governed the way that liberals would like to see us governed, so he could not be an effective spokesperson for the limited-government, pro-growth, market-oriented viewpoint.
What this dishonest, partisan propagandist is trying to do is preclude real, pro-growth economic views from even being advanced. It won’t work.
Notice how Communism never dies and the Left is even applauding the impending Soviet Reunion.