Archive for the ‘Reaganism’ Category

 
Reagan Proved Deficits Don’t Matter”
VP Dick Cheney to Treasury Secretary Paul O’Neill in 2002

By JC

Big Ingy, in my previous blog post on the rise of a liberal movement to primary Obama was being coy about the nature of tax increases under Reagan. Actually, coy is a nice word. He was being lazy and didn’t want to pony up any real facts. So being the inquisitive blogger that I am, had to do his homework for him.

Well, now I know why he and every other right winger doesn’t want to talk about the actual Reagan record. Ronnie raised taxes by signing into law $132.7 billion worth of tax increases. During the same period he also cut taxes by signing legislation worth $275.3 billion, for a net decrease of $142.6 billion dollars. But, coupled with his deficit spending, the national debt soared $1.873 trillion during his reign of trickle down economic terror, a tripling of the debt.

The obvious conclusion is that tax cuts don’t prevent deficits (as if we need to be reminded of that after Bush the Second’s raiding of the public coffers for tax breaks for the rich), and grossly inflate the national debt. Trickle down does not work.

Reagan’s Budget Director, David Stockman called trickle down, supply side economics a “trojan horse:”

“Do you realize the greed that came to the forefront?’ Stockman asked with wonder. ‘The hogs were really feeding. The greed level, the level of opportunism, just got out of control.”

Greedy hogs indeed!

Furthermore, unemployment went from 7.6% to 5.5% (with a peak of 9.7% inbetween, higher than anything under Obama) in Reagan’s eight years.

My question to conservatives is this: if you are willing to let a republican president triple the national debt to gain 2.1% points of employment, why not let a democrat do it?

Well, the answer is easy: hypocrisy and politics. Compassionate conservatism is dead.

It is clear that republicans are using economic terrorism to hold the unemployed as a hostage in order to aggregate political power in the next election, and collect the tithes of their overlords. Conservative economist and neomonetarist Scott Sumner called these sorts of political actions “treason”.

I’ve included Reagan’s tax increases and some other info and citations below the fold.
Continue Reading »

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By JC

A) Global warming is a hoax;
B) Evolution and creationism are equal theories;
C) The stimulus failed;
D) It’s Obama’s fault;
E) All of the above

Ah yes, another open thread for those who want to explore the finer details of republican inanity as they try to out-crazy each other and win the acclaim of the Gipper’s faithful.

In related news, the Reagan Library will be closed to the public today. Ah, a precursor of things to come…

And finally, wherefore art thou, Sarah Palin? Are you running???

For those who don’t want to watch the debate, here is a short preview (after the jump): Continue Reading »

By JC

I have been remiss in my postings of political cartoons. So today I have something special for you: 4 5 cartoons! So let’s just have a nice civil, down-to-earth open thread, shall we? Hehehe

Me thinks there may be some correlation here amongst these goodies!





By Duganz

Kill a person and you’ll go to jail for life. Kill an entire town and, well, it’s a different story. Today is the anniversary of just such a crime.

Thirty years ago oil conglomerate Atlantic Richfield Company drove a knife into the side of Anaconda, Montana–my hometown. I wasn’t alive to see the looks on people’s faces that day, but the look has never fully left. Twelve-hundred people lost their jobs, and the town lost a lifeline.

That’s not something that goes away, maybe ever.

In my mind Anaconda hearkens back to a different America, one that fueled an industrial boom and a daunting suburban sprawl––company people in a company town. You see it everywhere: Flint, Detroit, Pittsburgh, and New Jersey. The cookie-cutter homes lining the cookie-cutter streets, now slowly decaying as those better days recede further into the past. These were places where guys who couldn’t turn out court briefs, but could turn a wrenches, were welcome; a place where collars were bluer than any nearby water. Conjure to mind your favorite Norman Rockwell… that was Anaconda. It is a perfect representation of the 1950s Pop Culture zeitgeist.

After the Washoe Smelter closed there came a mass exodus of desperate people who took to the road looking for a future in a crumbling American economy (sound familiar?), and a changing world they were no longer meant for. Conjure if you will another stark American image: The Grapes of Wrath.

Those who stayed behind gobbled up what jobs they could to keep themselves going, holding out hope for more jobs that never have returned in quite the fashion everyone was hoping for.

Deer Lodge County lost 66 percent of it’s tax base in 1980, and recovery has been long and hard, and not entire. I remember when my Dad, who until recently worked as a CNA at Montana State Hospital, got a pay raise in 1994 and announced that he was finally making what he did when he worked on the Smelter in 1978. That’s a tough show to watch, and a tough reality to grow up in.

If prosperity was trickling down during the 80s and 90s, Anaconda was nowhere near the faucet. Makes one wonder what Reagan was thinking when he proclaimed it Morning in America back in 1984. Maybe it was morning somewhere – like on Michael Eisner’s yacht – but in Anaconda, Montana it was night, and a cloudy one at that.

*** Continue Reading »

by JC

Problembear’s post the other day about letting the Bush tax cuts for the rich expire has sparked a lively debate between Big Swede and Mr. Benson, and pb and I. The governing philosophy on their side it seems, is this notion that the more money the rich have, the more jobs they will create. Here’s Big Swede:

“Will raising taxes on the wealthy increase jobs?”

This is nothing more than regurgitated reaganism and its trickle-down, supply-side economic theory. BS and Mr. Benson seem to be wishing for a return to the days of a “shining city upon a hill.”

I see this as nothing more than wishing for a new era of neo-fuedalism where the success of the country is dependent upon the most wealthy individuals. And because we are dependent upon them, we must give them whatever they ask for, because the consequences of not doing so are dire: Who will create the jobs? Who will buy the luxury items that drive economic growth and technological advance…

The inequity in wealth between the rich and the poor has returned to early Depression-era levels. Congress is awash in crony capitalism, and the Obama administration is mired in corporatism. Corporations have been given first amendment rights by the Supreme Court. Wall Street dictates financial policy. The health insurance industry controls access to, and provision of health care. Energy companies must never be held accountable for fear we’ll have another return to a Carter-era energy shortage.

And we’re being asked by conservatives to preserve the Bush tax cuts for the wealthy, because, well, because who else is going to create jobs?

This is nothing more than sheer economic blackmail. It is more than looking back for guidance from Reagan, it is looking to the dark ages and a return to the comfort of the lord in his castle on the hill, surrounded by his serfs who will do his bidding in return for a small scrap of land to sleep on, and enough of a share in the crops in order to not starve.

This drive to let the rich and powerful run free among us, dictating policy and our economic future paints an ugly picture of the state of our union. For when the wind blows foul from the past, it is time for those who value true freedom and independence to declare that enough is enough.

This debate is not about taxes, as the tea baggers would have us believe. But they are just tools of the rich and powerful used to create a smokescreen behind which the lords can solidify their grip on our nation.

As Gharrett Johnson wrote in “Slouching Towards Neofeudalism”:

“Neofeudalism isn’t just about the powerful taking over everything. It’s about conditioning the poor to accept their designated role in society, even fighting to defend the ability of the wealthy to exploit them. It requires working people to do things that are against their own interests, and nowhere is this more true than in our current economic system.”

This is about the future of our country, and what it will become. This isn’t about politics. It transcends the two party system. It is about whether or not the masses are willing to become subservient to money and power. It is class warfare.




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