Search results for: "Laffer"

If someone were to tell you that they heard something once someplace, and scribbled a curved line on a napkin, would you risk your family’s safety and security on that quick little offhand doodle? Of course not. But that is exactly what the Voodoo Economics politicians have done to our entire nation.

Supply-Side Economic s (the notion that we should shovel extra money to rich folks in order to create prosperity for all) is a purely theoretical notion, and one with no data or historical basis to support it.  This specious doctrine has crashed our economy and resulted in an unprecedented looting of wealth from the American majority:  the biggest Reverse-Robin Hood scam ever perpetrated.  Somewhere in Hades, the Sheriff of Nottingham is cringing with envy.

The Beltway Banditos have taken this unproven notion and, over the past three decades, behaved as if it were a proven fact. It is not a fact, and never was. It was nothing more than a scribble on a mouth wipe, based upon a few cherry-picked quotes from historical Middle Eastern and European scholars. It had never been tried in isolation and had no long-term track record of success (such success as was attributed in the past has been questioned, to put it mildly). Now that is has been attempted, the idea that cutting taxes for rich folk will lead to overall economic gains has been proven NOT to work.

On a purely personal level, Mr. Blunt and Cranky loves tax cuts. But he is fully aware that from the 40’s through the early 70’s, our nation’s economic and tax policies fueled its most productive expansion ever,  in terms of infrastructure, personal liberty, and overall economic and social prosperity.  Said expansion started to wane as the supply-siders took over, slowed further, and is deader than a doorknob at present. Hell, we are sliding backwards, watching the achievements of the last century crumble around our ears.

This writer heard Mr. Laffer on the news this morning: in response to criticism, he stated that economists who disagreed with him “spent too much time looking at data”. He also said that data was good, but you had to “interpret” it. Put another way, the fool lives in a dream world, an ivory tower, a think tank; somewhere NOT connected with reality.  If the data says your idea is not working, then anyone who has spent any time on Planet Reality will reexamine their idea. But not Mr. Laffer and his mindless Supply-Side Lemming Brigade.

If anybody could provide a real-world example in which this laughable notion had actually worked, maybe we could give it more time. But no one has provided such an example, because Supply Side has never worked for more than a few years. Not once. Not ever. Not in recorded history. It is a pipe dream that has become dogma, and hard though it may be, it is time to stop huffing on the Laffer pipe, expel the Laffing Gas, and return to the common-sense economic policies that have been proven to work throughout history.

Mr. B & C

Once again, in spite of evidence to the contrary, “Republicans” are pushing a Voodoo Economics budget that steals from the 99% and gives to the 1%. This is Teapub Econ 101: steal, steal, steal. Then steal some more.

And it’s not just a government budget matter. No, Gentle Reader, Teapubbies have deregulated industry upon industry so that their bribing buddies can also steal with impunity. All across the economy.

So let us cast a jaundiced orb upon Spotify as our example DU jour: by dint of paying less than a pittance for the music they resell, they pocket almost all the proceeds. Indeed, Spotify by itself is worth more than the rest of the American recording industry put together.

And they do it the GOP way: f*** the actual provider with an elephant d*** while a bunch of sleazebag crooks pocket most of the proceeds.

Just like Wal-Mart. Just like Mickey-f***ing Dees. Just like many businesses in America and around the world. Like other idiotic greedhead f***wits throughout history.

We NEED laws. We NEED regulations. We NEED a government that truly represents our interests, because without that, we are at the mercy of the predatorial classes.

Vote. Vote against every Teapubbie. Push for candidates that will guard our interests. Else you will keep getting robbed.

Mr. Blunt and Cranky

(Yes, the TPP sucks. More on that another day.)

Scary stuff, Gentle Reader, scary stuff. The party that controls most of our country prides itself on being a load of scientifically illiterate, math-challenged yahoos who want to monitor each and every intimate detail of your life.

If that doesn’t scare you, you aren’t paying attention. We heard a prominent member of the Senate Repubs call for a miltary coup, forcing the government at gunpoint to starve the poor and feed the MIC.

We have a plethora of elected and appointed Teapublicans who loudly proclaim their willful ignorance on matters such as climate, rape, and even basic arithmetic, ferchrissakes.

So the same people who want to shoot anyone who disagrees with them are also those who take pride in their lack of knowledge about pretty much anything except for about 10% of the Bible. They are running things. And they are running things because they got the most votes.

Which means that stupid voters are in the majority. That is even scarier.

Mr. Blunt and Cranky

Falling gas prices have recently created a huge demand-side boost to our economy. Millions and millions of dollars worth of boost: serious money. The increase comes from families having a few hundred extra bucks a year to spend on things other than filling their tanks. That is the free market in action, folks: consumers consuming, and by so doing creating jobs where they spend that additional money.

Classic, common-sense, evidence-based economics. People making additional purchases with the money they are saving because of lower pump prices. Demand-side economic stimulus via the private sector. Somewhere in the Afterlife, Adam Smith is shouting “See? SEE, motherf***ers? Who’s the man? I toldjaso!”

And none, repeat NONE of those falling petrol prices had Thing One to do with tax breaks for millionaires. No, oil prices are falling because of supply and demand. Once again, class, all together: “supply AND demand”. But of course, “republicans” don’t care about anything but the supply side. Because that side has all the friggin’ millionaires and billionaires that can (and do) buy Teapubbie Senators and Congresscritters.

This blog has ofttimes posted about the complete and utter failure of supply-side “economics”, and the laughable Laffer Curve that it is based upon. (Click the links, Gentle Reader, lots of supporting data to be found if you folllow the breadcrumbs.)

Once again, all of the Post-Reaganista bulls*** has been exposed, in all of its fetid, malodorous splendor. The American economy used to grow, before these dark days, because sensible adults recognized that all sides and strata of the economy are interrelated, and that we needed to manage supply and demand, the rich and the poor, and everything in between. But because of the Voodoo Wing of the “Republican” Party (and by that we mean, “the entire f***ing GOP”) focusing ONLY on the supply side, we have naught but deficts, crumbling edifices, and corruption all around us.

The positive economic effects of falling prices for the consumer prove, once again, that the Teapublican party is, as usual, completely full of s***. Almost as full of it as the idiot voters who voted for them, or failed to vote against them. But hey, enjoy the cheap gasoline while it lasts; until the Teapubbies find yet another way to steal those extra dollars away from us, and hand it back to their supply-side patrons.

Mr. Blunt and Cranky

This blog sneers ofttimes at “Republicans” and their stupid-f*** “supply-side” economics. (Here is one example of said mockery.) The gist is: tried and true data-based economic practices are the way to succeed, and Randian, Lafferesque Voodoo economic policies are the way to fail.

In Kansas, one of several states that have decided Ayn Rand was the false Goddess they shall worship, Voodoo economics have had the result most of those in the Reality-Based community have predicted:

In Kansas, the right wing has completely run the show in the state capitol since the 2012 elections, when Sam Brownback (who became governor two years earlier) led a purge of moderate Republicans who were acting as a brake on his agenda in the state Senate. Kansas is now a laboratory for what would happen if conservative Republicans gained full control of government. Empowered state Republicans slashed taxes for the rich, arguing that an economic boom would follow. It didn’t, as job growth in Kansas has underperformed the national average (as has Scott Walker’s Wisconsin, another state that moved hard right around the same time). But what did follow was a huge hole in the state’s budget (while liberal-dominated California is running a surplus and paying down debt).. (Emphasis via Cranky)

In state after state, the predicted results have occurred: Voodoo economics have created a sort of Zombie economy. What might seem just a mildly amusing turn of phrase is in fact a devastating blow to those of us not in the 1% (said 1% motherf***ers not being in the least incommoded by the Undead Economy). The economy is limping along, barely alive as far as most of us can tell, and that is not a sustainable path.

In Kansas, Wisconsin, Ohio, and indeed across the nation, we see the results of “Republican” policies: and rotten results they have proven to be. Using millions of people to test their voodoo theories was unethical at the outset, and has since sucked most of the life our of our economy.

Unlike the zombies one sees in movies, our Repub-afflicted economy can be healed and brought back to life. All that is needed is to lay off the voodoo, apply some healthy policies, and the rotting ambulatory corpse of our nation will be restored to health.

And the first step of that cure? Get out and vote. Vote against each and every “Republican” in every race, in every location. Banish the witch doctors and bring back the trained, educated professionals that had served us so well for centuries. Ditch the dream of Supply-Side, and awaken to reality.

That ‘dream’ turned out to be a nightmare the likes of which even Romero could never have envisioned, anyway.

Mr. Blunt and Crankly

A return of $1.61 on a $1.00 investment is awesome, and you just can’t beat it. So why do all the “run our government like a business” types oppose it? Anybody with any actual business experience knows that you can’t hardly get that kind of bang for the buck.

The answer, alas, is that the right-wing nutjobs who oppose UI are uniformly incapable of doing basic math. The lot of them live in a fantasy world full of Ayn Rand and Laffer Curve claptrap, acting as if their fervent belief will somehow make their crazy ideology come true. Belief is NOT a substitute for actual numbers on investment and returns.

Speaking of investment; looking for a job costs money, and it is money well spent. As ChisholmTrailDem reports:

The last time I searched for a job my expenditures for just that purpose, while on UI mind you, was nearly $3000, most of it on fuel to go looking for a job, before I finally found one. And all of that came right out of my UI benefits, right along with all my other financial obligations.

No one seems to be talking about the cost of looking for a job. And those expenses come right out of UI checks. Now, not only can these people who have lost UI benefits not pay their bills, they also now have no money to look for a job.

Once again, Business 101; you have to spend money to make money. Teapublicans seem to think that money magically appears if you think it will. In reality, if you have no money to invest, you’ll get no return.  People need Unemployment Insurance to invest in finding a job. So if you want people to earn a living, then Someone. Must. Provide. The. Capital. Required. That, friends, is how business works.

And there isn’t anybody else out there who is providing that investment. Not neighbors, not churches, not anybody. If the Government wants fewer people on public assistance, then the government must invest in getting people to work. Spending nothing provides nothing in return.

Spending money on Unemployment Insurance provides a proven and positive return. So the Repubs need to shut up, nut up, and pony up.

Mr. Blunt and Cranky

This writer has been trickling all over supply-side economics for quite some time now, going back to the Reagan era when the idiotic notion first reared its ugly-assed head. And so have many others. But Pope Francis has outdone us all.

Here is Francis taking the academic approach:

“Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world,” Francis wrote in the papal statement. “This opinion, which has never been confirmed by the facts, expresses a crude and naive trust in the goodness of those wielding economic power and in the sacra­lized workings of the prevailing economic system.”

“Meanwhile,” he added, “the excluded are still waiting.”

And here he is with the killer phrase, offering a perfect summation of Voodoo Economics:

The promise was that when the glass was full, it would overflow, benefiting the poor. But what happens instead, is that when the glass is full, it magically gets bigger, and nothing ever comes out for the poor”.

Being a descendant of Huguenot refugees who fled from the terrors and crimes of Rome, Mr. B & C has long felt (and continues to feel) a huge antipathy towards the Holy Roman Catholic Church. Screw that organization with a rusty chain saw. They have done immense damage to Jews, Protestants, women, and the LGBT community over the centuries, and continue to to wreak havoc today, bringing misery and death to untold millions. And they rarely (if ever) apologize or make recompense for their crimes. So, again, screw that organization.

But let’s give credit where it’s due: Pope Francis has revealed the Laffer-Curve Emperor to be naked. He has brilliantly summed up the con job that was foisted upon the world by a bunch of fake “Republicans”, starting in the late 70’s. He has linked the cause (Supply-Side Economics) to its effect: the historically unprecedented inequality that plagues our planet. He has, in short, truly done God’s work this time.

It may be nothing more than the leader of one criminal organization calling out another: but it is truth. It is a truth that the world needs to hear. So, bless you, Pope Francis. Just for today, and thank you.

Mr. Blunt and Cranky

The New York Times, as it often does, almost did a great job here.Almost. In a piece called “Rooting for Failure”, they point out the behavior of “Republicans” and how they often seem to be trying to make the economy fail, the nation fail, our military fail, and so on. The actions are correct, and if the Times had spent a moment thinking (instead of just continuing to mindlessly parrot what they have been told), they would have found the motivating agent behind the Repubes’ destructive and anti-American agenda:

The Elephants are wedded to a theory. They see this theory as reality. Of course, everyone else knows the truth, so we look at them with puzzlement as they continue to do stupid things that fly in the face of facts, and do great damage to our country. These eedjits at Heritage Action exemplify the reality-denying twerps that are screwing things up in America.

A few examples:

Number A: Their absolutely pathological hatred of Obama and everything he does.

Letter 2:“Republicans” cling to their theories of Voodoo Economics in spite of the fact that reality has time and again proven them false.

Thirdly: “Republicans” ignored the reality of Osama Bin Laden’s plans to attack us in favor of their theories, and so we had 9/11. The same thing with Iraq.

Number D: Karl Rove’s refusal to accept the reality of Romney’s loss last year.

But then, it was Karl Rove who explicity pooh-poohed reality and extolled the virtues of creating one’s own version based upon a theory. So the idea that “Republicans” cannot, and indeed should not, accept reality comes from the very core of their modern-day leadership. And it is then not all that hard to believe that an entire party has chosen to live in a fairyland. Then the fact that they choose to ignore the facts when they are not in compliance with their airy-fairy, fluffy-sparkly, unicorns-pooping-pretty-butterflies theory isn’t all that hard to understand.

But regardless of the source of the unreal world or its theoretical underpinnings, that Theory is going to go Splat whenever it runs into Reality. And what gets hit by that splattering? You guessed ‘er, Chester: it’s us.

Mr. Blunt and Cranky