Wednesday, July 18, 2012

If At First...


If at first you do not succeed, why try again. One has to wonder why, after the economic failures of reducing the deficit and growing the economy experienced after either the economic policies of Reagan or after the Bush tax cuts, the Republicans keep advocating for the same policies that did not work.  The reason is actually far more obvious that what appears.  For most people with high incomes, the policies worked very well.  The top 10% of Americans experienced growth in both income and wealth.  The tax policies and deregulation resulted in massive growth in income and wealth for a small group of Americans.  These citizens have been successful in their attempt to convince those not so fortunate that their future will also benefit from supply-side  and deregulation policies.  Less than 200 very wealthy individuals have provided 90% of the funding of the Romney campaign and the PACs favoring Romney.  The country is being sold to the highest bidders.  Just as many lower income citizens support various lotteries, hoping they will “strike it rich”, they also support the economic policies advocated by the right hoping that some day they, too will benefit.  The failure of this line of thinking is that someday will never come for the majority of people supporting deregulation and supply-side economics.  Just as the inheritance tax has been termed death tax and has support from many who will never be affected by this tax, low tax, small government is the bumper sticker for many who actually suffer from these policies but succumb to the propaganda from the right.  “Keep government hands off my Medicare” logic is what fuels the potential success of the right’s attempts to elect another Republican administration.  As long as Democrats fail to dispute this logic the middle class in America will continue to be losers and more of the political process will serve the rich. Class warfare???  The war is over and 90% of Americans LOST! 

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