Reagan set the bar pretty low
10/24/06 10:49
I was
writing about Reagan the other day, and as I thought
back on his policies, it became clear to me that
dubya’s regime has been a continuation of the worst
of the Reagan-era game plan.
First, the notion that what’s good for the rich is good for the country. That giving the rich more money via tax cuts while cutting programs for the poor and elderly to pay for them is somehow beneficial to the poor and elderly. Reagan called it the trickle-down theory of economics. In truth there wasn’t much trickle, but he sold it so well that it became common knowledge that “tax cuts stimulate the economy.” I’m from Missouri though, so you have to show me. Anecdotal evidence seems to indicate the exact opposite. The booming economy of the ‘90’s started under the elder, smarter George Bush who actually raised taxes. Then it really took off under the Clenis who raised taxes again. Dubya came into office with tax cuts as his main agenda and the economy went into a funk that it’s only just coming out of. The Dow Jones industrial average is right now at a record high above 12,000. That’s a good thing. The problem is this: back in 1999 it hit a record of 11,000. It took 7 years (6 of them under dubya and his big bad tax cuts) to gain 9% and that’s without adjusting for inflation. I’m no economics wonk, but I don’t see how you can spin those numbers as good for the country.
Another similarity between dubya and Ronnie Ray-guns is the insane amount of deficit spending. They both cut revenue by giving massive tax cuts to the rich and then spent trillions more than that revenue, essentially borrowing money using the nation as collateral to give to the people who need it the least. Then they both made cuts to social programs under the guise of cutting the deficit that they themselves created. Reagan set the previous record for largest deficit in history. Dubya blew that record away. He started with the largest surplus in history and still turned it into the largest deficit in history. Amazing.
These people aren’t interested in governing well or governing responsibly. They aren’t really interested in governing at all. In truth, they are anti-government. They want to see the government so far in debt that it has to do away with social security and welfare programs and cease providing essential governmental services. I think Katrina showed that we are well on our way to that point.
First, the notion that what’s good for the rich is good for the country. That giving the rich more money via tax cuts while cutting programs for the poor and elderly to pay for them is somehow beneficial to the poor and elderly. Reagan called it the trickle-down theory of economics. In truth there wasn’t much trickle, but he sold it so well that it became common knowledge that “tax cuts stimulate the economy.” I’m from Missouri though, so you have to show me. Anecdotal evidence seems to indicate the exact opposite. The booming economy of the ‘90’s started under the elder, smarter George Bush who actually raised taxes. Then it really took off under the Clenis who raised taxes again. Dubya came into office with tax cuts as his main agenda and the economy went into a funk that it’s only just coming out of. The Dow Jones industrial average is right now at a record high above 12,000. That’s a good thing. The problem is this: back in 1999 it hit a record of 11,000. It took 7 years (6 of them under dubya and his big bad tax cuts) to gain 9% and that’s without adjusting for inflation. I’m no economics wonk, but I don’t see how you can spin those numbers as good for the country.
Another similarity between dubya and Ronnie Ray-guns is the insane amount of deficit spending. They both cut revenue by giving massive tax cuts to the rich and then spent trillions more than that revenue, essentially borrowing money using the nation as collateral to give to the people who need it the least. Then they both made cuts to social programs under the guise of cutting the deficit that they themselves created. Reagan set the previous record for largest deficit in history. Dubya blew that record away. He started with the largest surplus in history and still turned it into the largest deficit in history. Amazing.
These people aren’t interested in governing well or governing responsibly. They aren’t really interested in governing at all. In truth, they are anti-government. They want to see the government so far in debt that it has to do away with social security and welfare programs and cease providing essential governmental services. I think Katrina showed that we are well on our way to that point.
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