Why the Obama tax deal with Republicans is insane

[Karmadillo]

Examines the Harding/Coolidge, Reagan, and Bush II tax cuts and how they do not work as advertised. Of course, the oligarchy and its puppets don't particularly care.

http://www.correntewire.com/why_obama_tax_deal_republicans_insane#more

Why the Obama tax deal with Republicans is insane
Wed, 12/08/2010 - 11:20pm — Tony Wikrent

The central premise of U.S. economic policy since the election of Ronald Reagan in 1980 has been that the people in the private sector who know how to invest – the rich – do a much better job allocating society’s financial resources than the federal government. In fact, Reagan told us in his first inaugural address, “government is the problem."

In order to get as much of society’s financial resources into the hands of the rich - the people in the private sector who supposedly would do a better job investing it - Reagan, the Republican Party, and American conservatives in general developed a simple-minded faith in tax cuts, especially in reducing taxes on the highest incomes.

What are the results of this thirty year experiment low taxes? The Reagan / Republican / conservative theory DOES NOT WORK. For the first time in American history, we now have a generation that has less education and worse economic prospects than their parents did thirty years ago.

In all the hub-bub and brou-hah-hah of the tax debate the past few days, weeks, and months, hardly anyone has put forward the clear and unambiguous information that

TAX

CUTS

DO

NOT

WORK.

lots more...

[cali]

1. yes, but even worse is that this is

a way to knock the door off the hinges and storm social security and other vital programs.