Skip to main content

View Diary: Ryan's gentle lecture (19 comments)

Comment Preferences

  •  Not necessarily. (0+ / 0-)

    First, trickle down is bullshit as a permanent economic policy, which is what the GOP want.  I did not intend to come across in anyway as advocating for Trickle Down anything. Supply-side stimulus can have a purpose, but not in a recession and certainly not as a long-term policy.  

    I just don't think this chart is convincing because there's no context.  So, lacking context, you could argue that without those tax cuts, there would have been a dip or worse.

    I did a little research about JFK's tax cuts and this is what I've found.  The tax cuts that JFK proposed (it was his plan even though it passed after his death) were demand-side cuts, based on Keynesian ideas to put more money in peoples hands where it will be spent and passed on to even more people.  Something we agree on and I wish we were doing more of.

    That's what's important.  Demand-side policy, wether in stimulus or tax cuts (which Obama included in his stimulus) are tax cuts we should shout about, but only with the words demand-side fixed to them.  

    One of the biggest failings of Obama's first term is that most people don't even know that they had a tax cut, that it was the biggest they're ever likely to see in their lifetime and that they're paying the lowest rate they've probably ever paid in their lifetime.  Ask most people and they think their taxes have gone up because the GOP and right wing talking heads have been telling them that their taxes have gone up or will go up since before Obama was even sworn in.

    We have to counter that, champion demand-side policies and use the actual language of those policies until we re-capture them.  Use that language with this chart and you have a much better story—demand-side economics works!

    "Wall Street expertise, an industry in which anything not explicitly illegal is fair game, and the illegal things are fair game too if you think you won't get caught." — Hunter

    by Back In Blue on Wed Oct 17, 2012 at 08:27:05 AM PDT

    [ Parent ]

Subscribe or Donate to support Daily Kos.

  • Recommended (129)
  • Community (60)
  • Memorial Day (31)
  • Culture (23)
  • Environment (22)
  • Law (20)
  • Civil Rights (20)
  • Science (20)
  • Rescued (20)
  • Labor (18)
  • Education (17)
  • Elections (17)
  • Media (17)
  • Trans-Pacific Partnership (16)
  • Marriage Equality (16)
  • Economy (15)
  • Republicans (14)
  • Ireland (14)
  • Racism (13)
  • Josh Duggar (13)
  • Click here for the mobile view of the site