Why Reagonomics and other Voodoo Economics programs FAIL
Anyone who has seen firsthand the smoke and mirrors that came about during the Reagan years must now be screaming daily “I TOLD YOU SO!!!” Why? because it is patently OBVIOUS what happens when you pander to the Corporations and neglect the middle class, or the working classes. In a nuthsell, Reagan said, you give tax breaks to the rich, it will “trickle down” to the poor. Then Vice President Bush termed this “voodoo economics,” and history is proving him right…..
So, Reagan (even though you’re dead) pay attention because YOU WERE FRIGGING WRONG! The rich dont give a damn about the less fortunate, noblesse oblige is a relic, and giving the multinationals free reign and allowing them to offshore and downsize and outsource and close factories in towns all across America brought us to this: FOLKS WHO CANT PAY THEIR BILLS BECAUSE THE JOBS WENT AWAY….Then, you have the greedy lenders/bankers/mortgage industry….all to willing to throw caution to the winds and ignore the principles of sound lending….getting “creative” with interest rates and suckering in folks who foolishly forget to be prudent when they figure the cost of a home. One income or two? doesnt matter, let tomorrow take care of itself. We’ll delay the inevitable with a balloon payment and an ARM.
On top of the bailout (which was the SINGLE WORST ECONOMIC CATASTROPHE to befall this country, is it any wonder that:
AP ENTERPRISE: Federal tax revenues plummeting
By STEPHEN OHLEMACHER, Associated Press Writer Stephen Ohlemacher, Associated Press Writer – 2 hrs 47 mins‘s.
Well DUH boys and girls!! It doesnt take a rocket scientist to figure this out!! you take away the jobs, (or allow them to go away) you lose tax revenue. Someone get a frigging taser, we need to wake up our so-called elected officials and get them to play HARDBALL with those happy-go-lucky corporations who have been sliding thanks to dumbass loopholes they acquired by lobbying and campaign financing and other nefarious means.
I hope and pray there is at least ONE legislator out there who is paying attention. At the end of the day, he/she may be the only one left standing….
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??? I appreciate your commentary, but I’d appreciate it more if I understood it! I dont form my opinions lightly, and like you, I am over 50 years young. Ive seen this country go thru the Camelot years, the aftermath, the Watergate era, the gas crunch, the “trickle-down” 80’s, the dot com boom and the bubble burst and savings and loan debacle of the 90’s. Reagan’s policies didnt work. Giving the giant corporations breaks at the expense of the working joe was always a stupid way to do business. The chickens are now coming home to roost.
When you neglect your labor force, in pursuit of the almighty profit margin, you will eventually pay the price. I sincerely hope Obama starts penalizing big corporations who choose to relocate outside of the US. America was once great because we built all our own stuff, grew all our own food and giant companies were kept in check with oversight. This country already went thru a trustbusting phaze. You’d think we’d have learned by now…..