This is a Good one, and what with the way our so called Capitalist Economy has been running for years now, I'm gonna enjoy reading this list, Really Enjoy!

for all that Obama claims that his movement comes from the ground up at a grassroots level, it is truly his inspiration and message of hope from the top-down that has had a trickle down effect from the top of grassroots organizations to the very bottom of local leaders. How his change has made an impact with college democrats and young democrat organizations

For many folks, the term "The Fed" (ie. The Federal Reserve Bank) induces drowsiness. It sounds like such a boring institution, dealing in stuff like interest rates and basis points that seem so academic. But as I explain in my newspaper column out today, while The Fed's instruments may be esoteric, its power is enormous - and it is using that power to cut Wall Street a huge check in what is a public embrace of four right-wing isms that have taken over our government.

It isn't class warfare to talk about this - this is the truth. --John Edwards, DNC Winter Meeting Speech

But story, or legend, he described the atmosphere, the strain, the debate, and that as men for the first time faced the consequences of such an irretrievable act, the walls resounded with the dread word of treason and its price -- the gallows and the headman's axe. As the day wore on the issue hung in the balance, and then, according to the story, a man rose in the small gallery. He was not a young man and was obviously calling on all the energy he could muster. Citing the grievances that had brought them to this moment he said, "Sign that parchment. They may turn every tree into a gallows, every home into a grave and yet the words of that parchment can never die. For the mechanic in his workshop, they will be words of hope, to the slave in the mines -- freedom."--Ronald Reagan, The Shining City Upon A Hill

It was not until January that George W. Bush bothered to acknowledge the growing gap between rich and poor in America. Like Ahmandinejad denying the Holocaust, America's GOP had always denied, ignored or excused the verifiable fact that the rich get richer and the poor get poorer. It is understandable that the GOP would do this. Inequalities are historically worse under GOP regimes going back, at least, to Herbert Hoover. Marie Antoinette is alleged to have said: "Let them eat cake." Hoover urged Depression victims to sell organges from a push cart.

The Atlanta Journal-Constitution editorial board today published a harsh condemnation of the policies which have led to the results first highlighted by the NYT in discussing the work of economic analysts that the top 300,000 wealthiest Americans had an income (in 2005) nearly equal to that of the bottom 150 MILLION AMERICANS.

You know, when you have Presidents of friggin' Federal Reserve Banks worried about the US' wealth concentration versus, oh, third world nations, Houston, you might have a problem.

Man on this earth that is able to breath with out life support; and it is a wonder he don’t forget he has to breath. On Bush’s plan for lowering health cost giving tax cuts, for buying your own health insurance. In America the "golden rule" of the rich sell, every thing for all the money you can get, by making more money available for doctor and insurance companies; will only make medical cost go higher. Trickle down economics will not work; too have money you must stockpile it save it accumulate it; that is how you become rich, the rich love money and they are not going to part with any of it. The only way to get money  from a rich person is to steal it or by taxes; one and the same. Countries use the word Taxes as a polite word for stealing, kind of like how bush uses the word compassionate; [Bush is being compassionate by killing women children, so they don’t suffer the plight of war.]

Post-Election Democrats -- Coda: Clumsy and Half-hearted
Part 3: Half-Hearted Tax Reform
Cross-posted from The Alexandrian

One of the most promising policy ideas I heard floated just after the election was that Bush's tax cuts for the ultra-rich would be rolled back and the resulting revenues used to balance the budget and fund a middle class tax cut.

The beauty of such a proposal is that it finally neuters a 25 year cycle of a Republican strategy aimed at crippling the middle class in favor of the ultra-rich.

More after the fold.

I love the trickle-down-policy. I see it working well all around me. I have 'benefited' in many ways and I'll bet you have too.

If the Presidency Bush Lies is the most powerful position in the world and that position holder is allowed to Lie, Murder, Drink and Steal then those beneath him see and believe that it is okay to do that. There's no accountability. If the Leaders of the various Religions hide pedophiles, murderers, liars, drinkers, abusers then those who follow believe that this behaviour is okay and do the same. The Pope hid this guy.

I got the idea from this when OdinsEye2k wrote a diary talking about how bad an economist Arthur Laffer is.  The problem with Laffer is that he was smart enough to come up with an idea (the Laffer curve) that is relatively easy to understand, and stupid enough to allow Republicans to totally misinterpret his own theory.

This is perhaps a little on the late side, but it is definitely worth posting up.

I hope that it is true that Georgia's economic outlook truly is the best in the United States.  After all, Georgia has a proud history in the South as being an industrial center, and has several first-rate institutions on its side.  We have excellent schools (I myself migrated more than 3000 miles to enroll in Georgia Tech) and some big players coming into the state fairly shortly.

By now, we all know the logic of trickle down economics, or "reform": make markets, especially labor markets, more flexible in order to improve company profits (that means lower wages and union busting); eliminates taxes and regulations to unleash entrepreneurial spirit, and see as companies hire more people and spread the wealth.

Whether or not "reform" have been implemented, the official intermediate goals, corporate profits, has certainly been reached:

US companies boost share of economic pie

US companies have increased their share of the economic pie at a faster rate over the past five years than at any time since the second world war.

Recent government figures show that profits from current production as a share of national income have risen from 7 per cent in mid-2001 to 12.2 per cent at the start of this year. This rate of growth is unprecedented since collection of these figures began in 1947.

Adapted from an European Tribune story.

How many noticed the passing of John Kenneth Galbraith earlier this year? While I never had an opportunity to meet him, his writing, intellect and experiences have left an indelible mark upon my life. Dr. Galbraith understood that economics is the real political battlefield. Politics are simply a shadow cast by the economic landscape of a society.

His last book, "The Economics of Innocent Fraud" establishes the foundation for free market evolution that is driven by intelligent marketforce demand, a fundamental concept of our work at alonovo. While many have earned insight and significant knowledge of economic theory, few have actually have had the courage to apply it as Dr. Galbraith did. It is one thing to discuss supply-side theory (or other myths) in the hallway, it is another thing entirely to apply a body of knowledge for societal good.

In school, we once read about the "robber-barons" and monopolies of the 19th century, and we learned with a certain amount of pride that a President named Theodore Roosevelt came along and challenged them.  He was called the "trust-buster," and anti-trust law came into existence during his heroic Presidency.  So did the national parks.  But today, we see that the robber-barons have returned, and so have the monopolies.  Anti-trust law is rarely enforced any more, and is essentially ignored, treated as a meaningless vestige of history.  The labor unions have been defanged, and as a result most American workers are now powerless.  As long as the economy remains fairly strong, there is work for most (but not all).  But there is trouble ahead....big trouble.

Ronald Reagan introduced us to "trickle down economics." Bush 1 stole the phrase, "a rising tide lifts all boats." Bush 2 abandons all pretense and calls tax cuts for corporations and the super wealthy a "jobs package." Despite the fact that 25 years of this brand of tax policy has led to the economic ruin we now face is just not sinking in to most Americans.  Talk about raising corporate taxes (or even maintaining them) and "trickle down" is immediately trotted out as gospel.

This argument is a fundamental component of Republican propaganda and we have to start countering it.

More--->

"Trickle down" is supposed to occur under the Republican economic scheme.  The general theory is that by cutting taxes on corporations and the wealthy, these entities will in turn pass these increases onto the little people of the economy.  For example, the government cuts corporate taxes by 5%.  Corporations are supposed to pass these increases onto employees in the form of higher wages.  

There is one problem.  It's not working like that.  The money is staying in the upper levels of income holders.

Despite Bush Administration claims that the economy is going strong, General Motors is axing 30,000 employees.