Friday, November 02, 2012

Like we didn't all know that?

By Capt. Fogg

No shit!  Now say that with as much condescending and  snarky cynicism as you can manage and yet it won't be enough to fit the circumstance.  You see, the central tenet of Republican politics has been the idea that cutting the tax rates for the very wealthy will spur the economy and yet, as far as I can tell the evidence for that has been the repetition of the formula in very stentorian and hortatory tones. In fact all the evidence I can see, and many economists agree, suggest that quite the opposite is true and reduced sufficiently, the economy will at first experience soaring markets and catastrophic busts and recessions.  And of course we've seen some very prosperous times with 90% tax brackets for earned income and much higher rates on Capital gains. One can argue all day about what should happen according to one hypotheses or conjecture, but of course most people have learned in the last half millennium  that the outcome of experiment, of experience counts more than dialectic and endless repetitions of doctrine.  It wasn't politics that settled the question of how fast things would fall after all.

But it seems to be politics that has to decide for all time whether the very wealthy are "job creators" who will create more and better jobs if they have sufficient capital, because experience shows otherwise.  The numbers history gives us show otherwise and like so many battles involving politics and religion, those made powerful through those things have to resort to things other than honest numbers.  The other lesson of history is that denial, anger and retribution are the responses of  religious and political power, threatened by strongly supported truth.

So you're not going to be surprised  to hear that a report by the research service, a nonpartisan arm of the Library of Congress argues that the foundations of the Republican edifice are as solid as Lamarkian evolution, an Apache rain dance or the Heliocentric universe. Actually they've been far easier to refute.  Supply side economics is a crock.  No shit! Is this the first time you've bothered to seek confirmation of that whackadoodle gospel?  Didja examine entrails, consult the oracle, sacrifice a goat?   Well you know about those first stages of grief.  Denial and anger, right?  So withdraw the research and repeat the catechism sirs -- and do it loud!

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Blogger merlallen said...

I thought Henry Ford proved the opposite when he decided to pay his workers enough so they could afford the cars they made. They buy cars, Ford makes more money.

5:25:00 PM  
Blogger Libby Spencer said...

Of course, this should be the leading story on every news network for the next three days, but far as I can see, they barely mentioned it. Gave more attention to Joe Biden's verbal slip at some rally.

8:01:00 AM  

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