Archives for posts with tag: Supply-side

Mr. Blunt and Cranky will drive to work today on roads built by government-funded workers. When there, he will use the Internet, developed partly by the government. He will use water fountains that are supplied by government-funded water systems.

He will be protected by government workers from the military and police and fire departments. On and on the list goes. Taxpayer money providing jobs: that is a pretty tangible return on investment (ROI).

Government-created jobs built much of the infrastructure that we use each day: because there is not a lot of money to be made, private businesses rarely take on such projects.

Today, that infrastructure is crumbling, because much of Congress is delusional enough to think that rational business interests will lose their shirts by taking on such undertakings. They will not. No ethical private-sector organization can or should do so.

While the backbone of our economy is quickly breaking down, our legislators refuse to live in the real world; the world outside of their comfy cocoons, in which real people use the real “products” provided by those government jobs that really do exist.

During the Great Depression, our leaders were wise enough to see that paying people to build things was preferable to paying them to look for jobs in the private sector; especially when there were no effing jobs to be found there.

It is time to give the unemployed the opportunity to work again: to not only provide honest value for the taxpayer’s hard-earned (which the so-called “pro-business types should endorse), but also to provide dignity to those who would be working for their money and providing us all with a better life and the increased opportunities that come from those jobs.

The jobs that modern “Republicans” pretend don’t exist.

Mr. B & C

Mr. Blunt and Cranky is bestowing this week’s Crown O’ Polished Turds upon any and everyone who is still pushing Voodoo Economics. They do so in spite of the recent Congressional Research Service analysis that proved that Supply-Side Economics Does. Not Work. Period. End of Story. Mourners, please omit flowers.

One would think that the GOP (and some few Dems) would be changing their tune, given the news. After all, if what they are proposing to do would damage the economy, run up deficits, and possibly foment civil unrest,  surely any responsible politician would change course, for the good of the nation. One would think that, and one would be wrong. Why?

The one effect that supply-side HAS had is the concentration of wealth among the top 1% of Americans. This is the primary funding source of the “Republican” party in this day and age, and that is what their priority is: the pipeline of cash (legal and otherwise) that lines their pockets and bloats their offshore bank accounts.

“Give us more time”, they say; “trust us”, as they siphon money from our pockets. Perhaps one might be inclined to give them said time, were it not for this little fact: the supply-siders who have had 3 ½ decades to prove their plan will work (and want more time) are the same people who are saying that President Obama should be thrown from office for not fixing the Great Recession in 3 ½ years.

Got that? They have had ten times as long to make their case, and want more time; time that they will not give to the other party. Feh.  They know that their theory is bogus, and rather than act in a patriotic manner, they are choosing to continue lining their pockets at our expense.

Throw them out, the lot of them, the lying, sneaking, pilfering, cheating scumbags.

Mr. B & C

Mr. Blunt and Cranky has been saying that the Supply-Side Voodoo Economics theory that “Republicans” have been pushing for the past few decades is a bunch of mule muffins, and has further challenged adherents thereof to provide impartial proof otherwise. Thus far, no Pro-Trickle proof has been presented.

Meanwhile, the Congressional Research Service (said Congress being under the effective control of the Repubs, mind you) has just put out a report saying that the Reagan/Bush/Romney plan does not work, and has never worked. The first link is a summary news story; the second is the actual report, suitable for OCD data freaks like your humble correspondent.

http://finance.yahoo.com/blogs/daily-ticker/tax-cuts-wealthiest-don-t-stimulate-economy-report-160714639.html

http://graphics8.nytimes.com/news/business/0915taxesandeconomy.pdf

Here’s the money quote from the Congressional Research Service:

“The results of the analysis suggest that changes over the past 65 years in the top marginal tax rate and the top capital gains tax rate do not appear correlated with economic growth. The reduction in the top tax rates appears to be uncorrelated with saving, investment, and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie.

However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution”.

All y’all got that? The Romney/Ryan plan will do nothing to create jobs or boost the economy. It WILL, however, make those two rich f***s even richer, along with their cronies. They are pushing a plan that will screw us all, while lining their own pockets.

You might not call that criminal behavior –  politicians running on a platform that enriches themselves at the expense of the nation they profess to “serve”. This writer does. And if you vote for them, you’re just as guilty as they are.

Mr. B & C

It won’t work because it has been tried before and has never, repeat NEVER worked. Not once. (If you think you can argue the point, please submit a peer-reviewed economic paper showing where Supply-Side has actually worked for more than a year or so before it came crashing down. Pardon us for not holding our breath.) All the Romney/Ryan plan boils down is to Bush The Dumber’s plan, minus the compassion. And the Shrub’s Economic record was a cluster-f***ing train-wreck of thermonuclear proportions.

As we did yesterday, here are some actual numbers from the Feds and Wall Street to back Mr. Blunt and Cranky’s thesis statement (oh, and Congress changed control a number of times during the past 20 years, so don’t try blaming one party or the other over there):

Date:

Day One of Bubba

1/20/1993

Day One of Dubya    1/20/2001

Inauguration Day (End of Dubya’s Reign) 1/20/2009

Today (3 + Years of Obama) 9/5/2012

Unemployment Rate

7.3%

4.2%

7.8 % (rising)

8.3 % (fluctuating, down from 10.0 % in 2009)

Dow Jones

3,241.95

10,578.24

7,949.09

13,045.46

Nasdaq

697.44

2757.91

1440.86

3069.27

Stanford &   Poor’s

433.37

1432.90

805.22

1403.45

Inflation Rate

2.7%

1.6%

0.1 %

1.4%

National Debt

$4.1 Trillion

$5.7 trillion

$10.6 Trillion

$15.9 Trillion

Budget Deficit

$255 Billion (4.4% of   GDP)

-$128 Billion (3.0%   of GDP) (IOW, a Surplus)

$1.2 Trillion (8.3 %   of GDP)

$1.1 Trillion (7.6 % of GDP)

Job Expansion/

Contraction

63,000 added in 1/94   (Earliest available from BLS)

268,000 added in   1/2001

527,000 Jobs   lost  from 1/1/09 to 1/20/09

163,000 Jobs added in 6/12 (latest figures available from   BLS)

 

 

Please note that during Bubba’s time in office, things got better – Hell, even the national debt slowed its growth. That is because practicality trumped ideology. The Reagan/Bush The Smarter years were ideological, yes, but at least tempered with reality-based thinking and actions, so Clinton did not have as big of a mess to clean up. But clean it up he did, along with the adults in the Legislative Branch who managed to keep the ideologues in check part of the time.

Then along came Bush The Dumber. All ideology and whack-a-doodle theories, all the time, nary a pragmatist in the White House to utter a discouraging word. The result: each and every economic indicator went to Hell in a handbasket, and we are still trying to dig our way out of the resulting crisis that the Shrub and his crew of Supply-Siders caused.

Now we have Obama. Not this writer’s fave Prexy, but he’s done a darned good job of crisis management and even started addressing some of the underlying causes of the Bush Economic Collapse. His plan is to keep doing what has been proven to work, and do it for another four years. Kind of hard to argue with success, innit?

So, here’s the choice: Pick one or the other, there is no third option:

Number A: Romney, doing what has always failed before.

Letter 2: Obama, doing what always works.

(Hint: If you pick A, then you really ARE a stupid f***.)

Mr. B & C

A few hundred years ago, some slick-talking, amoral scumbuckets conned a lot of gullible people into believing that people of African descent were subnormal, subhuman creatures that could be used as slave labor. Even as it became obvious that this was an enormous, steaming heap of honkey bollocks, the racists doubled down on their flawed ideology.  “We need to be tougher on them, then it’ll work. Honest.”  So various idiots and greedheads tried to beat, shoot, and pummel black folk into “place”, and of course failed miserably.

About a hundred years ago, a disgruntled academic and his pet pamphleteer invented Communism, and some countries decided it was gospel truth and proceeded to implement it. Even as the people realized that Marxism/Leninism was an enormous, steaming heap of reindeer bollocks, the governments doubled down on their flawed ideology.  “We need to be better Communists, and then it will work. Honest.” The commies tried to beat, shoot, and pummel the proletariat into “place”, and in all but a few cases failed miserably.

Thus proving Rule One of Holes. In each of the above examples, people started digging a “hole” without at first realizing it, and then continued on even when it became clear that things were not working as planned. Sensible people would agree that further digging would deepen the hole and so one should stop, put the dirt back, and do something else instead of enabling the entombing of one’s self by digging ever deeper. Alas, many people are not sensible.

Starting in the late 1970’s and since then enthusiastically promoted by the Reagan/Bush/Clinton/Bush administrations, the Hole Du Jour has been “Supply-Side Economics”: the idea that redistributing tax breaks and benefits towards the already wealthy will create a stronger and more prosperous economy for everyone. It seemed (like racism and Communism, once) plausible to many; at least, at first it did.  But as it turns out, this idea has been proven to be an enormous, steaming heap of bison bollocks, and one that has dug us all into one helluva deep hole at that. Trillions of dollars deep, and deepening by the day.

So how does your friendly neighborhood supply-sider react to the news? Why, just like the racists and commies did: they are doubling down on their flawed ideology. “We need to cut even more, spend even less, give even more to the rich, then it’ll work. Honest.” Sounds familiar, eh?

Continuing to dig will work just as well as it did in the past: that is to say, not at all. It’s time to stop digging, climb out, and try another approach that does not involve the digging of our own fiscal grave. Rule One of Holes, folks. Learn it. Love it. Live it.

Mr. B & C

Most days of the week, your humble correspondent crankily arises and goes off to earn his keep. He goes to The Place At Which He Shall Be Paid If He Does What He Has Agreed To Do, and does what he has agreed to do. After having done so, he gets paid. Pretty normal, you’ll agree. Very few of get paid for doing nothing all day (Randy Bachman’s tongue-in-cheek lyrics notwithstanding); in fact, we often mock those who think they should get paid for doing nothing.

For well over thirty years, though, our government has paid people in the hopes that they might do something someday: the current name for these peeps is “Job Creators”. The Supply-Side idea says that if we give them a break on taxes, they will create jobs and all of us will benefit. A fair notion, and one that seems reasonable, at first glance anyway.

However, no one actually required that the payees ever provide proof to the payor that they had done what they had paid to do. Nor do the current proposals to increase the amount that we pay to these folks (in additional tax cuts and such) require any proof of job creation in order to get the green and folding. In short, these people are being paid whether they deliver the goods or not. Put another way, some of the recipients may very well be getting paid for doing nothing.

Mr. Blunt and Cranky proposes that Washington do what most local governments already do: require proof that the tax benefits provided to Job Creators led to the actual creation of jobs. And if no jobs were created, take the money back and give it to someone else who WILL do something useful with it.

Mr. B & C