We must undo the voodoo!

Republicans know that trickle-down economics is no longer an easy sell, so they've wrapped up those bad policies in a new package.

This week, the Republican-controlled House of Representatives passed a rule that requires more macroeconomic scoring on all major fiscal legislation through a process called “Dynamic Scoring.” Now, that may sound innocent enough, but, that's only until you consider that this whole practice centers on the failed economic policies of Ronald Reagan.

According to this new rule change, any significant changes to the budget or tax policy must be scored based on how they effect our economy and government revenue. However, those scores will be generated using the long-debunked premise that lowering taxes somehow increases government revenue.

Even though we have thirty-plus years of evidence that clearly disproves this nonsensical economic policy, Republicans decided to use it as the basis for every decision concerning our tax policy. As former Labor Secretary Robert Reich explained recently, “Dynamic scoring would make it easier to enact tax cuts for the wealthy and corporations, because the tax cuts wouldn't look as if they increased the budget deficit...”

It doesn't take an economic expert to understand that tax cuts lower government revenue. And, it doesn't take a historian to remember what happened after George W. Bush slashed rates for those at the top. Tax cuts for the rich don't stimulate our economy, and this flawed logic shouldn't be used to make economic decisions.

As Senator Bernie Sanders said, “In these difficult times, we need realistic economic projections, not discredited theories, not voodoo economics.” Call your Representatives today and tell them to reverse the dynamic scoring rule change.

Comments

effie5555 7 years 47 weeks ago
#1

This morning after listening to Tom’s show on Free Speech TV I called 202-225-3121 and asked for the speaker's office to protest decreasing the disability payments by 20%. After listening to America the Beautiful for 8 minutes John B comes on and invites me to leave a message. Then the message line informs me that I could not leave a message because his message box was full. I called back the switchboard to complain, and was transferred to the Rules Committee. Alec, who answered the phone informed me that there is no plan to reduce the disability payments reported on Thom's show, was a lie and that this was just presented to incite me. His solution to the dilemma was: Would you rather pay for him to have a system to accommodate hearing from the citizens of the US or repair the roads?

But keep trying - got through my third time.

chuckle8's picture
chuckle8 7 years 47 weeks ago
#2

AIW -- Bravo! I think it may fit on a bumper sticker.

Quote AiW: Anything oil can do hemp can do better

chuckle8's picture
chuckle8 7 years 47 weeks ago
#3

Very few of the 50 or so comments, so far, seem to have nothing to do with the details of voodoo economics and the propaganda to support them. I think we need that information to fight back against voodoo economics. I never know on my comments whether I am stating the obvious or being wonky and oblique. The following factual data seems very oblique. When raygun lowered the top tax rate from something like 78% to something like 35%, the revenue from the top earners increased 2 of 3 fold. However, the economy has been destroyed for the last 32 years. I think the economy should not be measured by tax revenue. I think the economy should be measured by the usual GDP, but per Larry Bienhart (one of Thom's favorites) the GDP should be augmented by number of jobs, median wage of those jobs (adjusted for inflation) and the DOW.

Mark J. Saulys's picture
Mark J. Saulys 7 years 47 weeks ago
#4

Bob Scheefer, of Face the Nation, right after the election, said that the Republicans will now have to actually govern. They won't be able to just keep taking cheap potshots at Obama and the Democrats.

I don't think that's true. As long as Obama is president they can continue to plausibly absolve themselves of any responsibility, in this short concentration span, bumper sticker driven society. They can continue to pass crazy, way out bills that they know the President will veto and then accuse the President of obstruction like they did the Senate when it would kill their way out ideas before..

If the Presidency goes to the Republicans in 2016 you can bet you'll see some infrastructure bills and many other of the President's and Democrats' ideas, that the Republicans wouldn't allow a vote on in the House or that they filibustered in the Senate for six years, being introduced, passed by the Republican House and Senate and signed by the Republican President. Their objection for six years wasn't that those were bad ideas or bad bills but only that they couldn't take credit for them.

They were completely willing to sacrifice the well being of the country for their own political gain. Isn't that right, Newtie? Isn't that what Caucus Room was all about? "That's what an opposition does" he said on Thom's show in justification of it. Not a "loyal opposition", i.e., an opposition that is not in the governing majority but has the basic decency nevertheless keep a loyalty to their country - to the well being of the nation and the people.

Instead they are without any loyalty to America or the American people. As Lenin instructed communist revolutionaries, who also had no loyalty to the nation as currently constucted, that a communist revolutionary does not participate in bourgeuois democratic process unless to "infiltrate" it, as it were, and to subvert and to sabotage the society and the system from within. I guess that's what they mean by "Taliban insurgency".

That is combined with "imiseration theory", that is a common, reprehensible practice of both Left and Right, to "make the economy scream", that is, to make the people so unhappy, miserable and in pain that they would overthrow whatever system or government they have in place. The U.S. practiced that with sanctions on Iraq between the two Gulf Wars ostentsibly hoping that the Iraqui people would overthrow Saddam Hussein - but probably really hoping that, like with the Germans and the Versailles Treaty, that they would provoke them to strike back militarily and the U.S. would have an exuse to invade, conquer and take back "our" oil fields that had been nationalized by the Iraquis since 1973 as the first act initiating the general nationalization of oil production by Arab countries throughout the Arab world - and with Cuba since 1962, of course with Chile in 1973, and so on.

fredsbrother 7 years 47 weeks ago
#5

There is now a gentleman who is a LTC. in the Army who teaches at Wet Point, USMA giving interviews on his opinion that Veterans receiving Disability Benefits from their Military service are lacking in "self worth" due to their Disability Income. He is in pictures with GW Bush on a Golf course so he may be a Republican. It has become clear that with the attack on SSDI to reduce paments by 20% this year,2015, with further cuts to Social Security to balance the budget that the Disabled both Vetrans and Civilians who did pay for their SSDI are under attack. This individual is using his USMA teaching position to advocate Political agends. He is on Active Duty so his actions are Illegal while he is in Uniform which he is. When one Political Party goes after the Disabled Americans and Disabled Veterans to pay for the War of Choice in Iraq, which has been reported to have cost over $2 Trillion in N0-Bid Contracts so far, it is very un-Patriotic. Disabled Veterans are being made every minute in War yet they will face reduced support from the Nation they Volunteered to defend. The ones who have been disabled in the past Wars of America will lose also if this reduction happens. Search for what happened to the "Bonus Marchers" from WWI in Washington, D.C. in 1933 by West Point Graduates who attacked them. Tank you for the Forum.

chuckle8's picture
chuckle8 7 years 47 weeks ago
#6

Bravo to Mark S. -- I like that "imiseration theory" explanation.

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