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You betcha!
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Posted on 12/16/2010 8:00:31 PM PST by TigerLikesRooster
The Tax Deal Is Nothing Short Of Ronald Reagan's Notorious "Starve The Beast" Strategy
Robert Reich | Dec. 16, 2010, 2:46 PM | 1,659 | comment 50
More than thirty years ago, Ronald Reagan came to Washington intent on reducing taxes on the wealthy and shrinking every aspect of government except defense.
The new tax deal embodies the essence of Reaganomics.
It will not stimulate the economy.
A disproportionate share of the $858 billion deal will go to people in the top 1 percent who spend only a fraction of what they earn and save the rest. Their savings are sent around the world to wherever they will earn the highest return.
The only practical effect of adding $858 billion to the deficit will be to put more pressure on Democrats to reduce non-defense spending of all sorts, including Social Security and Medicare, as well as education and infrastructure.
(Excerpt) Read more at businessinsider.com ...
Once the Lollipop Guild for Truth came out against him and ran all those ads he was finished.
Yeah, he really got lollipopped.
It’s a good thing Walter Mondale came along when he did and brought that disastrous policy to an end with his overwhelming 1984 presidential election over Ronald Reagan.
Oh . .
Wait . .
Reich and the rats want to continue to fatten up the already-bloated “beast” at the expense of the normal, traditional American families who made this nation great. Let them all whine. Screw them.
Hear, hear. As soon as read the “savings go round the world” nonsense it occurred to me that either he is saying this stuff to snow people or he is a complete idiot. Of course investment capital seeks the best return! A smart economist might want to figure out how we can increase the ROI in the USA vs the rest of the world and attract investment, rather than try to tell us that it would be better for us if we allowed him to confiscate the capital and let him “invest it” in government programs.
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You betcha!
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As as short guy, I found that comment totally hilarious.
Post of the day!
Revisionist History Alert!
Reich is a leftist troll.
They don't save that money in shoe boxes. Consumption is only one part of the economic equation and that 70% figure gets thrown around by Leftists as if that's our economic driver.
What they don't know about because it's not in their life experience is production.
The beast never starves. Hell, it never even has a hunger pang. They just whip out the credit card. Each. And. Every. Time.
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