In 2003 Mr. George W. Bush had this to say about America’s economy:
… Our first goal is clear: We must have an economy that grows fast enough to employ every man and woman who seeks a job.
After recession, terrorist attacks, corporate scandals and stock market declines, our economy is recovering. Yet it is not growing fast enough, or strongly enough.
With unemployment rising, our nation needs more small businesses to open, more companies to invest and expand, more employers to put up the sign that says, “Help Wanted.”
Jobs are created when the economy grows; the economy grows when Americans have more money to spend and invest; and the best and fairest way to make sure Americans have that money is not to tax it away in the first place.
I am proposing that all the income tax reductions set for 2004 and 2006 be made permanent and effective this year.
And under my plan, as soon as I’ve signed the bill, this extra money will start showing up in workers’ paychecks. …
The occasion was Mr. Bush’s 2003 State of the Union address. Notice that Mr. Bush wanted to put more money in America’s workers’ pockets by first putting it in the pockets of the wealthy. You’ll need more than “common sense” to fathom that one.
And Mr. Bush said:
If this tax relief is good for Americans three or five or seven years from now, it is even better for Americans today.
Well, by the end of 2007 the Bush team had crashed America’s economy. So the “if this tax relief is good” condition failed. Should that impact the voodoo economics theory of the neocons? Not likely. Voodoo Economics is a defining characteristic of the neocons. The four pillars of Mr. Reagan’s voodoo economics, were never successfully practiced by anyone. If you view the below graph, you will see that the neocons’ financial “management” was exactly the opposite of the Republican centrist, the Republican Conservatives and the Democrats.
The below graph shows how the neocons spent America’s money:
The neocons were not spending less of what America made but more of what America made. And the engine that drove that spending is:
The four pillars of Reagan’s economic policy were to:[2]
- reduce government spending,
- reduce income and capital gains marginal tax rates,
- reduce government regulation of the economy,
- control the money supply to reduce inflation.
In his stated intention to cut back on domestic spending while lowering taxes, Reagan’s approach was a departure from his immediate predecessors. Although his record is still debated, Reagan succeeded with lower marginal tax rates in conjunction with simplified income tax codes, and continued deregulation. However government spending and deficits rose during his administration. …
And the below graph shows how the neocons put money into the working Americans’ pocket:
http://news.bbc.co.uk/2/hi/business/5303590.stm#graph
EVERTBODY BUT THE NEOCONS ALLOWED THE AMERICAN WORKERS TO BENEFIT FROM THEIR IMPROVED PRODUCTIVITY!
There is a huge difference between the RHETORIC of the neocons and the PERFORMANCE of the neocons. It is COMMON SENSE as to which should prevail.
Tags: America's economy, American Dream, american nightmare, common sense, if tax relief is good, jobs, national debt graph, Performance, Rhetoric, tax reductions, wages and productivity graph
