Showing posts with label Supply-side economics. Show all posts
Showing posts with label Supply-side economics. Show all posts

Tuesday, October 2, 2012

The Incredible Hoax of Reaganomics- The David Stockman Debacle 1/3

 by Nomad

President Reagan

For some time now, every GOP candidate wants to find some way, any way, to make a linkage to Ronald Reagan. It goes way beyond an illegitimate comparison into the offensive and idiotic. During the campaign in an interview with CNN, for example, Newt Gingrich had the audacity to say,
"I think a big mistake on my part was to try to bring in conventional consultants. Because I am much like Reagan and Margaret Thatcher, I'm such an unconventional political figure that you really need to design a unique campaign that fits the way I operate and what I'm trying to do."
As if by invoking the name of the 40th president- like some enchanted spell- it will bring them political magic or a cloak of invisibility to hide their shameful ideological nakedness. 

Trickle-Down is Reaganomics

Many have objected to Obama’s call for a fair tax system, in which the super wealthy will pay their rightful share. Taxing the “job creators” is, they bewail, out of the question. Where on earth do you expect jobs to come from if you punish success? they moan. Of course, anybody familiar with history will recognize that line of thinking as the trickle-down theory, which was a key feature of Reagan’s economic plan.