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Edited on Fri Feb-18-05 02:28 PM by Warpy
because they know a crash is coming and they want to ride it out unscathed.
The mid level drones who actually believe all this supply side nonsense are the enablers. It's amazing. They acutally believe cutting taxes increases revenues, despite 25 years of evidence to the contrary. They actually believe offshoring jobs and whole industries creates more domestic jobs, despite 30 years of evidence to the contrary. They actually believe that by shifting masses of wealth away from the people who work to create it up to the wealthy, that we'll all become prosperous, despite 25 years of experience of increasing misery.
Supply side economics just plain doesn't work. The only economic theory that works particularly well over a sustained period is DEMAND side economics, where wealth is recirculated from the top back toward the bottom, either in taxes paying for social welfare or by strong unions. Even then, that system is prone to periods of inflation, especially when external forces like OPEC are at work.
The present system of throwing the country deeper and deeper in debt to fatten the rich and to pay for exporting industry is simply unsustainable. Something has got to give, and I'm afraid that will happen all too soon.
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