Rantibus: So, Mr/Ms, Right Wing GOP congressperson, what is the solution to the economic disaster we now find ourselves mired in?
RW GOP: Tax cuts for the rich.
Rantibus: But wasn’t that, along with deregulation, lack of oversight and other factors the very thing that put us in our current dilemma? Realistically, what must be done?
RW GOP: Tax cuts for the rich.
Rantibus: Sir/Madam, what color is the sky?
RW GOP: In my opinion, it is green.
Rantibus: Any further words of wisdom for our readers?
RW GOP: Tax cuts for the rich!
There’s a certain poetic hubris to the current GOP assertion that when one finds one’s self in a deep hole, the only logical way out is to continue digging. Fortunately, the electorate took away these linthead’s shovels in November of 2008 but that hasn’t stopped their demented mantra. The way out of a debacle caused by the greed and injudiciousness of the wealthy is to give them more money. Your money. Anything else would lead to … well, what exactly? To listen to flap-jaws and broken records like McCain and Limbaugh, not giving the rich and incorporate even more money to replace that which they pissed away will lead to the downfall of civilization as we know it. Or at least as they would like it to be. Them on top, urinating down on the rest of us who are expected to comment how the nice rain will help the crops.
Back in 2003, Bush claimed that the US’s top economists predicted substantial growth if Congress would pass the president’s $1.3 trillion tax cut. Newsday of February 24, 2003 begged to differ:
“The forecast with that conclusion doesn’t exist. Bush and White House Press Secretary Ari Fleischer went out of their way … to cite a new survey by ‘Blu Chip economists`that the economy would grow 3.3 percent this year if the president`s tax cut proposal becomes law. That was news to the editor who assembles the economic forecast. Ì don`t know what he was citing,`said Randell E. Moore, editor of the monthly Blue Chip Economic Forecast, a newsletter that surveys 53 of the nation`s top economists each month. ‘I was a little upset,’ said Moore, who said he complained to the White House. “It sounded like the Blue Chip Economic Forecast had endorsed the president’s plan. That’s simply not the case.”
GOP party hacks love to cite the Reagan administration as though it were a model for economic reform. (Well, ol’ Ronnie did manage to quadruple the national debt…) The coveted Laffer curve, a 1940’s era phenomenon that stated that if you taxed the rich less, the government would reap more dollars in income. This, ostensibly, was that all that money the wealthy and incorporate saved from taxes would be invested back into the economy which would concomitantly create jobs that would generate income and buy goods and services and tax revenue, etc…
Well … not so much. That money mostly goes into bank accounts in the Caymans and Seychelles and Luxembourg, to avoid being taxed. Even when given public monies, as we recently saw with the TARP bailout funds, the rich’s first impulse is to try and buy a new $50 million corporate jet or spend $12,000 a night on family vacations in Baja all courtesy of the American taxpayer like Citigroup corporate executives were recently found to be doing with their federal bailout money.
Indeed, the Federal Reserve is still keeping secret what exactly was done with $2 trillion in bailout money. Yes, that’s TWO TRILLION which use they will not allow to be disclosed. Public money. Your money.
These are the same pelf-puffed frauds that was unable to account for over $12 billion assigned to the Coaliton Provisional Authority in Iraq under Paul Bremer between May 2003 and June 2004. The money has simply disappeared and even Bremer, testifying before Congress in 2007 hadn’t the slightest idea of what happened to it. (not the least thing Bremer hasn’t the slightest idea about)
This is the same group of cretins that added over $6 trillion to the National Debt in eight years and is now complaining about the fact that Obama wants a stimulus package that actually helps the peasants and peons rather than the Madoffs.
The US is now officially broke! It is a debtor nation forced to borrow from other countries to keep its currency afloat. Over 1.1 million have been added to the unemployment rolls in the last two months as the economy circles the drain. What, Republicans, is the answer to our woes?
TAX CUTS FOR THE RICH!
How obvious….