A Financial Disaster 28 Yrs In The Making (Reaganomics) Ain't Gonna Get Right Any Time Soon

[stopbush]

Bailout band aids and cheerful pundit talk about "the guts to ride it out" aren't gonna cut it.

Bottom line - the Republicans WORKED THEIR ASSES OFF SINCE REAGAN TO BRING US TO THIS POINT. They did their work well - they're all multi-millionaires, the rest of us are paupers.

It ALL went according to plan.

I wonder how Howard Baker feels about that "riverboat gamble" these days?

[yourout]

1. The only way we get back to at least a semblance or what we were is to....

do what Thom Hartman recommended. A Labor Equalization tariff on all products brought into the USA.

If a product comes into this country and it takes 90 cents worth of labor to make it here while it costs only 10 cents worth of labor there you collect an 80 cent tariff.

Yes the price of goods will go up but the money will stay in this economy not end up overseas. This will help rebuild the manufacturing sector and allow the middle class to at least stay afloat if not prosper.

[SammyWinstonJack]

2. K&R!

[Flarney]

3. But Mitt Romney said that wouldn't work...

...sike. I LOVE Thom Hartmann.

[tjwash]

4. Globalization was doomed from the very beginning.

How do you have a global economy, when there is no global currency in the first place? The currencies compete against each other, and get bought and sold like commodities.

[Hidden Stillness]

5. They Will Have to Undo Everything They Have Done Over a Generation; Re-regulate It All Again, etc.

To put it bluntly, they have to now go back over all these years and years, and undo everything that was done since the 1970s: re-regulate all the laws, regulations, systems, procedures, standards, practices, that they deregulated and killed; return unions and fair bargaining to the workplace; restore the progressive system of taxation, with restored corporate, capital gains, luxury, excess-profits/windfall-profits, and increased income taxes on the richest groups, and re-lower sales and property taxes; re-regulate the way stocks, commodities, etc., are traded, with legal penalties for crimes; return outsourced manufacturing jobs to the U.S.; raise the standard of living so that all jobs pay much more than the minimum wage (there is a reason why people can no longer buy cars!); re-open the Government to the will of the people, and get the corporate money and influence out; on and on and on. I have gotten to the stage where I would like to just dig up the cold dead body of Reagan, and beat it to death again. Damn rich devil, grinning the whole time.

[indepat]

6. By George, I think you've got it: this was all by careful 'puke design, the Gipper's

lowering of the highest marginal rate to 28% and dramatically raising the highly regressive payroll tax so that most of the middle class would be sending more than 35% of their marginal dollars to Uncle Sam whereas the uber-wealthy were sending only 28%. Problem is those trillions of dollars in extra payroll taxes being generated over the years (and which this highly regressive tax was subject to income tax) were being spent as received on other government programs, mainly the military (the US with 5% of the world's population spends as much as the rest of the world combined on the military), which were not paid on higher incomes. Yet to fund junior's further income tax breaks for the uber-wealthy, Greenspan proffered social payments could be reduced. :P

[leftchick]

8. with a lot of blue dog democratic complicity

I remember a lot of democrats taking the corporate cash and voting for this shit as well over the years.

:puke:

[indepat]

9. Democratic complicity in aiding and abetting junior in implementing his RW police state

and funding his war(s) of aggression is incomprehensible and unforgivable. :P

[lynettebro440]

7. And to know this the whole fucking time

has been amazing watching in action. And these fuckers never die....