40 years of "trickle down economics"

[maxrandb]

Rolling brownouts in Ohio and Texas due to the oppressive heat.

Crumbling infrastructure all over the country.

Massive flooding and weather disasters we don't have the means to respond to without exercising emergency powers.

Dilapidated schools, and 3RD World education system and infrastructure.

Massive wealth inequality.

Billionaires building dick-shaped space rockets, while millions struggle to feed and educate themselves.

Personal selfishness and cruelty.

The lack of any shared commitment to our fellow man.

All these, and more can be laid at the feet of "Saint Ronny Ray-Gun".

This dystopian America was the 1%s wetdream when they installed that feeble piece of amphibian shit in the White House.

Ronny "awshucked" America to fucking disaster.

I will never understand it.

I have been told that America is a GOVERNMENT "by and for the people".

If you truly believe that, then you have to believe that the "government is us".

If the government is "us", then why in the fuck would you want to "drown it in a bathtub"?

That kind of sounds like suicide to me.

[kentuck]

1. The national debt was less than $1 trillion when Jimmy Carter left office...

Now it is about $30 trillion. Almost all can be attributed to taxcuts and trickle-down economics.

[Kingofalldems]

16. What laws are you talking about since none were mentioned in the OP?

Not sure why you seem to blame Democrats here.

[jimfields33]

18. Good points.

Your right, It was amazing that we had the democratic house for over 40 years straight. I’m thinking we are on that trend again. Your support on facts are so helpful and appreciated so much. Thank you so much. It’s incredibly nice of you.

[malaise]

3. Devalue our lives, deregulate everything

and privatize all institutions.
In other words, fuck up the entire planet and let the fascists rule.
Rec

[CousinIT]

4. . . .

"If the government is "us", then why in the fuck would you want to "drown it in a bathtub"?

That kind of sounds like suicide to me."

[doc03]

5. Now they fly the US flag and the Confederate flag of

treason or F-- Biden on their trucks. But they get violent when a football player takes a knee.

[Poiuyt]

6. It's really trickle up theory

[appalachiablue]

20. +1

[Wounded Bear]

7. K & R...nt

[andym]

8. The problem is enough of the public thinks trickle down works due to Reaganomics apparent success

Last edited Tue Jun 21, 2022, 01:35 PM - Edit history (2)

A strong argument can be made that Reaganomics had little to do with the boon years of Reagan's presidency post 1983. If not Reaganomics, the Laffer curve and supply-side economics, then what?

The answer is not as well known as it should be: Jimmy Carter appointed Paul Volcker as Fed Chairman in 1979, knowing he would try a drastic solution to stagflation which would hurt his reelection. Volcker contracted the money supply and raised interest rates to levels unseen in modern times causing a deep painful recession. After almost 4 years of pain, the hawkish Fed policy worked, inflation receded, the Fed dropped interest rates and the economic stimulus from the loosening of the Fed's extreme hawkishness drove the so-called Reagan economic miracle. not supply-side economics. Reagan's team knew the truth and had Reagan reappoint Volcker in 1983.

Keep in mind the relevance to today, as the current Fed is using a milder version of the same strategy right now.

[AllaN01Bear]

10. this is the same chap that ruined california and screen actors guild. massive damage

w that one .

[rampartc]

13. the "two santa claus" theory

allowed the repubs to spend profusely on "defense" (keynesian stimulus) while cutting taxes om the rich. they always forget that they doubled the fica tax (the most regressive tax anywhere). also new taxes on social security benefits.

stockman's book "the triumph of politics" is also instructive.

some favorite catch phrases were "skin in the game" and "everyone must pay for their own entitlements" as well as the concept of "entitlements" itself.

these people were, and are, radicals who have convinced many americans (including many democrats) that their twisted version of neoliberalism makes sense.

[calimary]

9. They never explained "trickle down" honestly.

When they’re saying “ trickle-down,” they really mean “tinkle on.” “Piss on” or “pee on” both work equally well.

[wryter2000]

11. Amen

He was the origin of where we find ourselves today. Then Gingrich ruined the congress.

[Auggie]

12. Voting is mostly emotional; an effort to support group prosperity

My take these days.

Trickle-down, Tea Party, MAGA -- designed to emotionally appeal to groupthink.

[moondust]

14. Hatred of gubment

was apparently common in the old Confederacy long after they lost the Civil War...er...the "War of Northern Aggression." No doubt still a factor among neo-confederates and others across the deep red South and now more common even in the old Union states.

Then a century ago the rise of communism in parts of the world played a big role in the anti-gubment hatred and propaganda. As "business party" hero Raygun put it...“The top 9 most terrifying words in the English Language are: I'm from the government, and I'm here to help.”

Along with Reagan came this guy:

The Man Who Broke Capitalism

(Author) Gelles shows how (Jack) Welch’s celebrated emphasis on increasing shareholder value by any means necessary (layoffs, outsourcing, offshoring, acquisitions, and buybacks, to name but a few tactics) became the norm in American business generally.

Add it all up over 40 years and you get a lot of selfishness and everyday dysfunction and failure as quality of life and "the commons" are sacrificed on the altar of greed.

K/R

[Kid Berwyn]

15. Rich got richer. And the Middle Class evaporates.

Which is the point.

Wealthiest times in human history and most of it lining very, very few pockets.

https://www.fastcompany.com/90425732/the-united-states-of-inequality-a-timeline

Why hasn’t it been stopped?

Because the rich need to get richer.

[live love laugh]

19. Suicide. Well said.