1. "The United Kingdom ... is now slipping into a crisis of national purpose as serious as it passed through prior to the Thatcher years. By the late 1970s, Britain had an unruly industrial-relations climate, was lumbered by a vast and hemorrhagingly unprofitable public sector, had a 98% top personal-income-tax rate, and was in danger of becoming a silly and backward place.
2. Prime Minister Thatcher tamed the Labor unions, radically reduced taxes, privatized almost everything, gave the Argentinians a good thrashing over the Falklands (restoring democracy to Argentina in the process, though it hasnt worked very well), and played a front-rank role, with Ronald Reagan and Pope John Paul II, in the Western victory in the Cold War.
a. Britain was restored to the place...as one of the worlds most respected nations.
3. Much, though not all, of this has been squandered by Margaret Thatchers successors. John Major kept most of her accomplishments in place and won a fourth straight full-term majority for the Conservatives (the first a party has had since before the first Reform Act of 1832, which expanded the electorate).
4. Then came Tony Blair and New Labor. Gradually, almost all taxes except those on individual and personal incomes were raised, and finally those were, too. The proceeds were poured into the public service, while, in a pattern familiar to Americans, standards of state education and public health care declined.
a. ...Labor was that, for the first time, it was reelected to consecutive full terms (three terms), before being rejected under Blairs successor, the long-serving chancellor of the exchequer, Gordon Brown, in 2011.
5. Mrs. Thatcher thought better of that and placed all her bets on the American alliance with Ronald Reagan and George H. W. Bush. It worked, but it didnt last. President Obama has no interest in the special relationship,..."
Britains Future Turns Dodgy After Years of Squandering Thatchers Legacy - The New York Sun
6. Reminder: Reagan was our Margaret Thatcher
[Reagan and Obama] have a lot in common. Both inherited an American economy in collapse. And both applied daring, expensive remedies.
Mr. Reagan passed the biggest tax cut ever, combined with an agenda of deregulation, monetary restraint and spending controls. Mr. Obama, of course, has given us a $1 trillion spending stimulus.
By the end of the summer of Reagan's third year in office, the economy was soaring. The GDP growth rate was 5% and racing toward 7%, even 8% growth. In 1983 and '84 output was growing so fast the biggest worry was that the economy would "overheat." In the summer of 2011 we have an economy limping along at barely 1% growth and by some indications headed toward a "double-dip" recession.
By the end of Reagan's first term, it was Morning in America. Today there is gloomy talk of America in its twilight. "
Stephen Moore: Obamanonics vs. Reaganomics - WSJ.com
7. "...outlines of President Obamas economic policies were following in close detail exactly the opposite of President Reagans economic policies. As a result, I predicted that Obamanomics would have the opposite results of Reaganomics. That prediction seems to be on track.
These economic policies amounted to the most successful economic experiment in world history. The Reagan recovery started in official records in November 1982, and lasted 92 months without a recession until July 1990, when the tax increases of the 1990 budget deal killed it. This set a new record for the longest peacetime expansion ever, the previous high in peacetime being 58 months.
What is so striking about Obamanomics is how it so doggedly pursues the opposite of every one of these planks of Reaganomics. Instead of reducing tax rates, President Obama is committed to raising the top tax rates of virtually every major federal tax. As already enacted into current law, in 2013 the top two income tax rates will rise by nearly 20%, counting as well Obamas proposed deduction phase-outs.
...the full results of Obamanomics wont be in until his historic, comprehensive tax rate increases of 2013 become effective."
Reaganomics Vs. Obamanomics: Facts And Figures - Forbes
So....the gift to America from the Obama voters....
Look across the pond......and weep.
"...therefore never send to know for whom the bell tolls;
it tolls for thee. . . ."
John Donne
2. Prime Minister Thatcher tamed the Labor unions, radically reduced taxes, privatized almost everything, gave the Argentinians a good thrashing over the Falklands (restoring democracy to Argentina in the process, though it hasnt worked very well), and played a front-rank role, with Ronald Reagan and Pope John Paul II, in the Western victory in the Cold War.
a. Britain was restored to the place...as one of the worlds most respected nations.
3. Much, though not all, of this has been squandered by Margaret Thatchers successors. John Major kept most of her accomplishments in place and won a fourth straight full-term majority for the Conservatives (the first a party has had since before the first Reform Act of 1832, which expanded the electorate).
4. Then came Tony Blair and New Labor. Gradually, almost all taxes except those on individual and personal incomes were raised, and finally those were, too. The proceeds were poured into the public service, while, in a pattern familiar to Americans, standards of state education and public health care declined.
a. ...Labor was that, for the first time, it was reelected to consecutive full terms (three terms), before being rejected under Blairs successor, the long-serving chancellor of the exchequer, Gordon Brown, in 2011.
5. Mrs. Thatcher thought better of that and placed all her bets on the American alliance with Ronald Reagan and George H. W. Bush. It worked, but it didnt last. President Obama has no interest in the special relationship,..."
Britains Future Turns Dodgy After Years of Squandering Thatchers Legacy - The New York Sun
6. Reminder: Reagan was our Margaret Thatcher
[Reagan and Obama] have a lot in common. Both inherited an American economy in collapse. And both applied daring, expensive remedies.
Mr. Reagan passed the biggest tax cut ever, combined with an agenda of deregulation, monetary restraint and spending controls. Mr. Obama, of course, has given us a $1 trillion spending stimulus.
By the end of the summer of Reagan's third year in office, the economy was soaring. The GDP growth rate was 5% and racing toward 7%, even 8% growth. In 1983 and '84 output was growing so fast the biggest worry was that the economy would "overheat." In the summer of 2011 we have an economy limping along at barely 1% growth and by some indications headed toward a "double-dip" recession.
By the end of Reagan's first term, it was Morning in America. Today there is gloomy talk of America in its twilight. "
Stephen Moore: Obamanonics vs. Reaganomics - WSJ.com
7. "...outlines of President Obamas economic policies were following in close detail exactly the opposite of President Reagans economic policies. As a result, I predicted that Obamanomics would have the opposite results of Reaganomics. That prediction seems to be on track.
These economic policies amounted to the most successful economic experiment in world history. The Reagan recovery started in official records in November 1982, and lasted 92 months without a recession until July 1990, when the tax increases of the 1990 budget deal killed it. This set a new record for the longest peacetime expansion ever, the previous high in peacetime being 58 months.
What is so striking about Obamanomics is how it so doggedly pursues the opposite of every one of these planks of Reaganomics. Instead of reducing tax rates, President Obama is committed to raising the top tax rates of virtually every major federal tax. As already enacted into current law, in 2013 the top two income tax rates will rise by nearly 20%, counting as well Obamas proposed deduction phase-outs.
...the full results of Obamanomics wont be in until his historic, comprehensive tax rate increases of 2013 become effective."
Reaganomics Vs. Obamanomics: Facts And Figures - Forbes
So....the gift to America from the Obama voters....
Look across the pond......and weep.
"...therefore never send to know for whom the bell tolls;
it tolls for thee. . . ."
John Donne
