“Bush Sr. inherited eight years of Reagan’s ‘Indebt & Spend’ NeoCon (Men) tactic of governance...
“...We have most of the middle class deeply sobbing about the ultra rich and whether or not after they consume their lion’s share will they ‘trickle’ down their effluents on us.” (Another generic Liberal)
Why do so many Liberals believe so many things that just aren’t true?
First off, there really was no “Reagan ‘Indebt & Spend,’ ” that over-spending belonged to the Tip O’Neill Congress.
Congress controls federal spending (ALL federal spending), Congress controls tax policy (ALL tax policy), as Congress controls the fed’s wallet.
The Tip O’Neill Congress DID spend over $2 for every $1 in tax cuts, but despite all that federal over-spending, the Misery Index was brought down, during Reagan’s tenure, FROM the Carter debacle high, which was also America’s post WW II high of 21, TO single digits by 1986.
Generally, income and capital gains rate hikes are tools used to SLOW down an overheated economy, as higher income and Cap Gains rate hikes DECREASE tax revenues and slow investment.
Arguing that tax rate hikes raise tax revenues is like arguing that when dropped, objects fall up.
When Clinton came into office, he came in at war with the Keynesian Foley Congress.
Clinton, a pro-Free Trade, pro-welfare reform, Supply-Sider came to cooperate as well with the Newt Gingrich Congress, as G W Bush has with the Pelosi-Reid Congress. After butting heads with Gingrich over deep federal budget cuts and a huge Capital Gains tax (FROM 30% down TO 20%), resulting in a brief federal shutdown in 1995, Clinton bought into more than 70% of Gingrich’s “Contract With America.” Those federal budget cuts, the first in numerous decades, were primarily responsible for the budget surpluses of the late 1990s and they delivered some of the LOWEST Misery Indexes in over four decades – 1998’s 6.05 Misery Index was the lowest since 1956.
The Gingrich Revolution, which created not only one of the best economies in decades, but the only budget surpluses in almost half a century proved conclusively that Supply Side policies work, just as surely as the Carter debacle proved that Keynesian policies don’t.
Moreover, the “Corporate Media” is NOT on the Right – when Americans talk of the “Corporate Media,” it’s ABC, owned by the Disney Corporation, it’s CBS, which was owned by Westinghouse for over a quarter century, now parented by Viacom and it’s NBC owned by General Electric - THAT’S the “Corporate Media.”
It’s only LOGICAL for Corporations to advocate for socialism, they are the primary beneficiaries of “freezing the game in place,” by protecting existing, established enterprises from competition from new companies and newer ideas, no matter how bloated, inefficient and unresponsive to consumer demand these enterprises become.
As for individuals, like you and I – the natural state of all men is LIBERTY – NOT the license to “do whatever we want, so long as we don’t harm others,” BUT Liberty – complete self-ownership and the full responsibility that comes with it.
Liberty offers no special benefits to anyone and only the most disingenuous among us would argue that “Individual Liberty primarily benefits those who are better educated, who own property and are born well-off,” because it actually benefits the clever, far more than it does those who are merely intelligent or “book bright.”
Bottom-line, America’s Founding design, rooted in private property rights and individual Liberty is the best possible garden in which to cultivate free (self-owning), productive and prosperous individuals.
“...We have most of the middle class deeply sobbing about the ultra rich and whether or not after they consume their lion’s share will they ‘trickle’ down their effluents on us.” (Another generic Liberal)
Why do so many Liberals believe so many things that just aren’t true?
First off, there really was no “Reagan ‘Indebt & Spend,’ ” that over-spending belonged to the Tip O’Neill Congress.
Congress controls federal spending (ALL federal spending), Congress controls tax policy (ALL tax policy), as Congress controls the fed’s wallet.
The Tip O’Neill Congress DID spend over $2 for every $1 in tax cuts, but despite all that federal over-spending, the Misery Index was brought down, during Reagan’s tenure, FROM the Carter debacle high, which was also America’s post WW II high of 21, TO single digits by 1986.
Generally, income and capital gains rate hikes are tools used to SLOW down an overheated economy, as higher income and Cap Gains rate hikes DECREASE tax revenues and slow investment.
Arguing that tax rate hikes raise tax revenues is like arguing that when dropped, objects fall up.
When Clinton came into office, he came in at war with the Keynesian Foley Congress.
Clinton, a pro-Free Trade, pro-welfare reform, Supply-Sider came to cooperate as well with the Newt Gingrich Congress, as G W Bush has with the Pelosi-Reid Congress. After butting heads with Gingrich over deep federal budget cuts and a huge Capital Gains tax (FROM 30% down TO 20%), resulting in a brief federal shutdown in 1995, Clinton bought into more than 70% of Gingrich’s “Contract With America.” Those federal budget cuts, the first in numerous decades, were primarily responsible for the budget surpluses of the late 1990s and they delivered some of the LOWEST Misery Indexes in over four decades – 1998’s 6.05 Misery Index was the lowest since 1956.
The Gingrich Revolution, which created not only one of the best economies in decades, but the only budget surpluses in almost half a century proved conclusively that Supply Side policies work, just as surely as the Carter debacle proved that Keynesian policies don’t.
Moreover, the “Corporate Media” is NOT on the Right – when Americans talk of the “Corporate Media,” it’s ABC, owned by the Disney Corporation, it’s CBS, which was owned by Westinghouse for over a quarter century, now parented by Viacom and it’s NBC owned by General Electric - THAT’S the “Corporate Media.”
It’s only LOGICAL for Corporations to advocate for socialism, they are the primary beneficiaries of “freezing the game in place,” by protecting existing, established enterprises from competition from new companies and newer ideas, no matter how bloated, inefficient and unresponsive to consumer demand these enterprises become.
As for individuals, like you and I – the natural state of all men is LIBERTY – NOT the license to “do whatever we want, so long as we don’t harm others,” BUT Liberty – complete self-ownership and the full responsibility that comes with it.
Liberty offers no special benefits to anyone and only the most disingenuous among us would argue that “Individual Liberty primarily benefits those who are better educated, who own property and are born well-off,” because it actually benefits the clever, far more than it does those who are merely intelligent or “book bright.”
Bottom-line, America’s Founding design, rooted in private property rights and individual Liberty is the best possible garden in which to cultivate free (self-owning), productive and prosperous individuals.
3 comments:
Great post! I'm convinced that your proposition regarding the "emotional disturbance" of the far-left is dead on. It's simple really the rich realize the fruits of capitalism the poor realize the fruit of socialism (if you want to call if fruit) and the middle class are stuck forced to work for the wealth and foot the bill for the poor. The far left knows this and they want to keep it this way because it's profitable (as most of them are super-rich)
oops, I meant to say the middle class is forced to worked for the wealthy.
Largely that's so, CBW.
The super-rich don't rely on income for wealth and thus our nation's reliance on the graduated income tax lets them skate.
I think our systemic problem goes beyond rich and poor....I don't think a lot of people oppose helping those in urban housing projects and rural trailer-parks train for skills that will lead them to better, more productive and prosperous lives, though most of us have a problem with dependancy and "entitlement" programs.
I think the real problem people in this country cut across all income and ethnic lines - there are a fair number of Americans who might best be defined as scammers. People who'll do almost anything to avoid work - they'll sue, they'll winnow themselves into various government programs...anything to avoid being productive people.
Ironically enough, there are probably (and I say probably) more of those people (scamers) among that vast middle group than among the poor.
The economy is always a fragile thing.
There are always more people pulling the cart than riding in it, but when we go beyond the tipping point, the tax rates become so punitive that it makes pulling the cart less attractive...there's less in it for the pullers.
We are close and getting closer to that point.
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