Trickle-Down Economics works for the wealthy, very well -- thing is it doesn't "trickle down" to everyone else, as the Conservatives claim.
We tried that grand Economic Experiment when we gave those Bush Tax Cuts to the Wealthy -- and it has failed. And it nearly destroyed our Economy in the process.
The wealthy -- their income went up 275% in the process too.
Beware middle class workers ...
Now Conservatives, in the guise of Paul Ryan and Mitt Romney, what to double down on those failed policies and give America even more of the same. EVEN MORE Tax Cuts to the Wealthy. $4.5 Trillion-worth more.
President Obama Calls Republican Budget ‘Thinly-Veiled Social Darwinism,’ ‘A Prescription For Decline’
by Pat Garofalo, thinkprogress.org -- Apr 3, 2012
President Obama today used a speech before the Associated Press Luncheon to deliver a defense of the social safety net and government investment, while laying out the empirical case against supply-side economics. “You would think that after the results of this experiment in trickle-down economics were made painfully clear, the proponents of this theory might moderate their views a bit,” Obama said. “But that’s exactly the opposite of what they’ve done.”
In that vein, he took a shot at the House Republican budget that was passed last week (with zero Democratic votes), calling it “thinly-veiled Social Darwinism”:
This Congressional Republican budget is something different altogether. It is a Trojan Horse. Disguised as deficit reduction plan, it is really an attempt to impose a radical vision on our country. It is thinly-veiled Social Darwinism. It is antithetical to our entire history as a land of opportunity and upward mobility for everybody who’s willing to work for it -- a place where prosperity doesn’t trickle down from the top, but grows outward from the heart of the middle class. And by gutting the very things we need to grow an economy that’s built to last -- education and training; research and development; our infrastructure -- it is a prescription for decline.
link to short clip
Or more precisely, this portion of the speech was captured by Daily Kos' own intrepid reporting ...
9:50 AM PT: "Our entire financial system was nearly destroyed. So we've tried this theory out. And you'd think that with the results of this experiment of trickledown economics, after the results became painfully clear, that the proponents of this theory would show some humility." You'd think they'd change some of their ideas: open themselves up to ending the Bush tax cuts, or being willing to entertain to add new regulations. "Instead of moderating themselves even slightly...[House Republicans]...passed a plan so right wing it made the original Contract with America look like The New Deal."
Live:
President Obama takes on Romney-Ryan budget plan
by Jed Lewison for Daily Kos -- Apr 03, 2012
Thanks Jed, great live blogging. As per ususal.
Obama took time to explain the Overton Window to the Press too.
by illustrating that EVEN Ronald Reagan could NOT get elected by the current uncompromising Republican standard.
That not one Republican on the current debate stage, would agree to 10 to 1 ratio in Spending Cuts to Revenue Increases.
Obama says today's GOP would reject Ronald Reagan
by Ken Thomas, Associated Press -- Apr 3, 2012
[...]
Republicans "will brook no compromise," Obama told news executives at the annual meeting of The Associated Press.
He cited a Republican presidential debate late last year when the entire field rejected the prospect of $10 in spending cuts for every $1 in tax increases as a means to lower the debt.
"Think about that. Ronald Reagan, who as I recall was not accused of being a tax-and-spend socialist, understood repeatedly that when the deficit started to get out of control that for him to make a deal he would have to propose both spending cuts and tax increases," Obama said. "He did it multiple times. He could not get through a Republican primary today."
[...]
Reagan did this kind of "economic compromising" to tackle the Deficit problems of that era, many times.
That is one great benchmark, for illustrating the degree of the Tea Party extremism and their current obstructionist hypocrisy.
For demonstrating their complete lack of willingness to live in a Fact-based reality,
-- a Reality that even their hero Ronald Reagan had 'No Problem with'. Raising Revenues. That is a necessary reality, especially when your party insists on promoting ceaseless wars, around the world.
Finally a few more lively images were delivered by the Democratic Candidate for President. Images that paint the Republicans for who they are ...
and exactly what their Rollback Agenda will bring to the American people:
Obama blasts Ryan, Romney, Republican budget
by David Jackson, USA TODAY -- Apr 03, 2012
[...]
Indicting today's Republicans, Obama says the Ryan budget "makes the Contract with America look like the New Deal." Cites criticism by a prominent Republican, Newt Gingrich.
Moving on to his indictment of Republican economic policy, Obama goes after the George W. Bush-era tax cuts and other GOP policies -- says "prosperity sure didn't trickle down," and they led to recession and near-financial collapse, as well as "growing debt and widening inequality." Says its "painfully clear" that "trickle-down" economics didn't work.
[...]
Obama delivers the "Trojan Horse" line, saying the GOP isn't about the deficit, but instead promotes "Social Darwinism" and is a "prescription for decline."
[...]
So Beware People,
of Republicans bearing "gifts" ...
You never know what they are hiding, just below the surface.
On second thought, maybe we do know ...
Those Bush years are hardly "ancient history," now are they?
The results of that failed GOP experiment are still being swept up and slowly rebuilt -- with NO thanks to the standard GOP stonewalling ...
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Full Transcript and Video of Obama Speech Today
by TomP -- Apr 03, 2012
http://maddowblog.msnbc.msn.com/...