Friday, July 4, 2014

Supply side charlatans

Krugman nails the supply siders to a cross of their own making. He discusses how Kansas decided to give this long-failed policy a try and of course and as usual, it didn't work. And the guy who recommend it is on ALEC's 'board of scholars,' a contradiction in terms. ALEC proposes this sort of legislation all around the country and their agenda is tax cuts to the rich, tax increases on everyone else, and drastic cuts to social programs. And the tax cuts on the rich, which is supposed to create jobs and boost the economy which will trickle down to the rest of just never happens, ever. This specious spin used to work but more and more Americans are finally waking up and recognizing that that scant trickle is the fact we're being pissed on.

By the way, the jobs number came out and are encouraging. But make no mistake, it has nothing to do with cutting taxes on the rich, as they are not the ones creating these jobs. Most of the new jobs were in retail and restaurant, mostly minimum wage jobs where people barely, if at all, get by, usually needing government assistance. And wages continue to be stagnant for even skilled workers. What jobs the rich are creating are slave labor, which is exactly how ALEC and their bogus economic philosophy wants it.

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