Why the Obama tax deal with Republicans is insane

[girl gone mad]

Why the Obama tax deal with Republicans is insane
http://www.correntewire.com/why_obama_tax_deal_republicans_insane

The central premise of U.S. economic policy since the election of Ronald Reagan in 1980 has been that the people in the private sector who know how to invest – the rich – do a much better job allocating society’s financial resources than the federal government. In fact, Reagan told us in his first inaugural address, “government is the problem."

In order to get as much of society’s financial resources into the hands of the rich - the people in the private sector who supposedly would do a better job investing it - Reagan, the Republican Party, and American conservatives in general developed a simple-minded faith in tax cuts, especially in reducing taxes on the highest incomes.

What are the results of this thirty year experiment low taxes? The Reagan / Republican / conservative theory DOES NOT WORK. For the first time in American history, we now have a generation that has less education and worse economic prospects than their parents did thirty years ago.

In all the hub-bub and brou-hah-hah of the tax debate the past few days, weeks, and months, hardly anyone has put forward the clear and unambiguous information that

TAX

CUTS

DO

NOT

WORK.

http://www.correntewire.com/why_obama_tax_deal_republicans_insane">read more...

[niceypoo]

1. Someone tell Obama that fiscal responsibility is NOT 'sanctimonious purity'

[Hello_Kitty]

2. Whaddya mean they don't work?

They're working out just fine for our plutocratic overlords thankyouverymuch.

[BrklynLiberal]

3. Too bad that someone at the top did not heed the words of all those economists who said this

a long time ago....

[texshelters]

5. Why listen

when you have Wall Street hacks and Fed chairs like Bernanke, Summers, and Geithner to help you out?

I knew his economic team would defend the wealthy of this nation over the interesting of the many, but this is more than even I could predict.

Peace,
Tex Shelters

[BrklynLiberal]

6. True...too true

[Mojambo]

4. That is an absolutely fantastic piece

My only fear is that it's a bit too long to hold the attention spans of my conservative friends.

[Kablooie]

7. You are falling for their line. That's not what they believe.

It's about drowning the government in the bathtub.

They want all government services and regulations to be eliminated so they can keep the money for themselves.
The theory is that national government should support a military and that's it.
Nothing more.

Every other service should be given to some enterprising entrepreneur so he can get rich off of it.

Government taxes are what's bringing the economy down.
They assume if the government didn't exist capitalism itself will keep the economy booming.

The reason they believe this is that it makes them all richer.

And that's the bottom line.
Take as much wealth as possible from the working stiffs and give it to the rich.
Period.
It's the end in itself.

So arguing that their theory isn't working is wasted energy.
They don't believe it any more than you do.
it's just a massive scam and it's working wonderfully well.