Supply side myth

Discussion in 'Current Events' started by 804brown, Jan 28, 2012.

  1. 804brown

    804brown Well-Known Member

    Selling the 'Supply-Side' Myth

    Despite Newt Gingrich's claim that "supply-side" economic theories have "worked," the truth is that America's three-decade experiment with low tax rates on the rich, lax regulation of corporations and "free trade" has been a catastrophic failure, creating massive federal debt, devastating the middle class and off-shoring millions of American jobs.

    It has "worked" almost exclusively for the very rich, yet the former House speaker and the three other Republican presidential hopefuls are urging the country to double-down on this losing gamble, often to the cheers of their audiences — like one Florida woman who said she had lost her job and medical insurance but still applauded the idea of more "free-market" solutions
  2. bbsam

    bbsam Moderator Staff Member

    It's only been 30 years. Give it a good century. It will come around.
  3. Monkey Butt

    Monkey Butt Dark Prince of Double Standards Staff Member

    I'm sure there is some truth to this ... however, the real primary culprits are unnecessary wars, needless intervention by the Fed, and excessive and wasteful spending by the National Government.
  4. bbsam

    bbsam Moderator Staff Member

    How about needless tax cuts?
  5. av8torntn

    av8torntn Well-Known Member

    This is a very short video explaining in very basic terms why you are incorrect when you make the claim more government intervention or spending will save us all.

    Austrian Business Cycle Theory - YouTube
  6. wkmac

    wkmac Well-Known Member

    And there's the broken window fallacy too!

  7. Monkey Butt

    Monkey Butt Dark Prince of Double Standards Staff Member

    I'm sorry you don't get it. :happy2:
  8. bbsam

    bbsam Moderator Staff Member

    Fact is fact. If the Bush/Obama tax cuts are ended for everyone, the deficit becomes manageable in about four years. But debt isn't really a concern, is it? The people in office (democrats and republicans) don't want smaller government no matter what they say in campaign speeches. I'm sorry you don't get it...but not surprised.:happy2:
  9. 804brown

    804brown Well-Known Member

    Grover norquist (anti tax fundamentalist) once said his goal is to starve government so that it does not work properly. He wants it shrunk smaller enough so that it can be "drowned in a bathtub".Granted he is one man but all repubs in congress and im sure in state legislatures too have pledged to HIM not to raise taxes, etc come what may!!
  10. Monkey Butt

    Monkey Butt Dark Prince of Double Standards Staff Member

    The Norquist pushed "No Increase In Taxes" pledge certainly hampers the ability of many Republican politicians to compromise.