Trickle-down wealth--A myth adhered to by BOTH parties

[The Rabbi]

Indeed, over the years -- at least since the 1980s Reagan era -- the idea of trickle down wealth has been more quasi-religious belief than empirically supported fact. The Republican right just wants to believe that "trick down" works, and seem immune to both argument and research that points to the contrary. I doubt there's anything that will lead them to change their mind.

Perhaps more pernicious is the current policy of the Federal Reserve (and central banks around the world). By keeping interest rates artificially low they have herded money into the stock market. The capital gains thus produced disproportionately benefit the 1%, and in turn create greater economic inequality. Interestingly, this is a policy that is supported as much by liberals as conservatives. One observes the ludicrous situation of Janet Yellen lecturing against rising inequality at the same time the policies she is enacting is one of the principal drivers of said inequality.

Only the right claims to believe in bailing out the wealthiest and then letting it trickle down.

Some on the left believe we should solve simple poverty and invest it up not let it trickle down.

Sorry but who bailed out Chrysler, GM, and a bunch of other companies? Yeah that was Obama.

Bailing out hundred of thousands of auto workers IS what a responsible government should do.....

Bailing out a few banks, hedge fund managers and CEOs through tax breaks with the questionable hope that they'll create jobs in the future, is succumbing to the bribery of congressional whores.

LOL! You're OK with govertnment bailing people out. As long as it's people like you.
WHat a fucking hypocrite. You think the upper level managers at GM etc werent also bailed out? What a dope.
You are too stupid to deal wth.

 

[BluesLegend]

Indeed, over the years -- at least since the 1980s Reagan era -- the idea of trickle down wealth has been more quasi-religious belief than empirically supported fact. The Republican right just wants to believe that "trick down" works, and seem immune to both argument and research that points to the contrary. I doubt there's anything that will lead them to change their mind.

Perhaps more pernicious is the current policy of the Federal Reserve (and central banks around the world). By keeping interest rates artificially low they have herded money into the stock market. The capital gains thus produced disproportionately benefit the 1%, and in turn create greater economic inequality. Interestingly, this is a policy that is supported as much by liberals as conservatives. One observes the ludicrous situation of Janet Yellen lecturing against rising inequality at the same time the policies she is enacting is one of the principal drivers of said inequality.

Only the right claims to believe in bailing out the wealthiest and then letting it trickle down.

Some on the left believe we should solve simple poverty and invest it up not let it trickle down.

Sorry but who bailed out Chrysler, GM, and a bunch of other companies? Yeah that was Obama.

Bailing out hundred of thousands of auto workers IS what a responsible government should do.....

Bailing out a few banks, hedge fund managers and CEOs through tax breaks with the questionable hope that they'll create jobs in the future, is succumbing to the bribery of congressional whores.

LOL! You're OK with govertnment bailing people out. As long as it's people like you.
WHat a fucking hypocrite. You think the upper level managers at GM etc werent also bailed out? What a dope.
You are too stupid to deal wth.

Taxpayers bailed out everyone at GM tune the tune of over $50 billion dollars, squared away their under funded pension plan, gifted the unions a huge stake in the new GM which they had no legal right to while royally screwing over the bond holders who where the legal owners. One of the most lawless acts of government abuse in my lifetime.

 

[nat4900]

Just to teach Blues a bit of real/factutal history about the left and the right and the automakers' bailout:

Lest we forget, it was Bush rather than Obama who initiated the government rescue of the auto companies.
On December 19, 2008, a week after Republicans in the Senate had killed a bailout bill proposed by Democrats, saying it didn’t impose big enough wage cuts on the U.A.W., Bush unilaterally agreed to lend $17.4 billion of taxpayers’ money to General Motors and Chrysler, of which $13.4 billion was to be extended immediately. He had to twist the law to get the money. Deprived of congressional funding, he diverted cash from the loathed TARP program, which Congress had already passed, but which was supposed to be restricted to rescuing the banks.

“I didn’t want there to twenty-one-per-cent unemployment,” he said to a meeting of the National Automobile Dealers Association in Las Vegas last month, explaining why he acted as he did. “I didn’t want history to look back and say, ‘Bush could have done something but chose not to do it.’ ”

An Inconvenient Truth It Was George W. Bush Who Bailed Out the Automakers - The New Yorker

 

[The Rabbi]

Just to teach Blues a bit of real/factutal history about the left and the right and the automakers' bailout:

Lest we forget, it was Bush rather than Obama who initiated the government rescue of the auto companies.
On December 19, 2008, a week after Republicans in the Senate had killed a bailout bill proposed by Democrats, saying it didn’t impose big enough wage cuts on the U.A.W., Bush unilaterally agreed to lend $17.4 billion of taxpayers’ money to General Motors and Chrysler, of which $13.4 billion was to be extended immediately. He had to twist the law to get the money. Deprived of congressional funding, he diverted cash from the loathed TARP program, which Congress had already passed, but which was supposed to be restricted to rescuing the banks.

“I didn’t want there to twenty-one-per-cent unemployment,” he said to a meeting of the National Automobile Dealers Association in Las Vegas last month, explaining why he acted as he did. “I didn’t want history to look back and say, ‘Bush could have done something but chose not to do it.’ ”

An Inconvenient Truth It Was George W. Bush Who Bailed Out the Automakers - The New Yorker

Obama bailed out GM. True or false?

 

[BluesLegend]

Just to teach Blues a bit of real/factutal history about the left and the right and the automakers' bailout:

Lest we forget, it was Bush rather than Obama who initiated the government rescue of the auto companies.
On December 19, 2008, a week after Republicans in the Senate had killed a bailout bill proposed by Democrats, saying it didn’t impose big enough wage cuts on the U.A.W., Bush unilaterally agreed to lend $17.4 billion of taxpayers’ money to General Motors and Chrysler, of which $13.4 billion was to be extended immediately. He had to twist the law to get the money. Deprived of congressional funding, he diverted cash from the loathed TARP program, which Congress had already passed, but which was supposed to be restricted to rescuing the banks.

“I didn’t want there to twenty-one-per-cent unemployment,” he said to a meeting of the National Automobile Dealers Association in Las Vegas last month, explaining why he acted as he did. “I didn’t want history to look back and say, ‘Bush could have done something but chose not to do it.’ ”

An Inconvenient Truth It Was George W. Bush Who Bailed Out the Automakers - The New Yorker

Did Bush hand GM $50 plus billion in taxpayer money? No Obama did you idiot. Who threatened GM bond holders with government retaliation if they did not agree to give up their rights to GM's assets? Obama the thug that's who. 10 cents on the dollar that's the pittance Obama gave the GM bond holders, meanwhile he gifted the union a 30% stake.

I know you are retarded and so naturally handicapped in these discussions but try to keep up, we are not talking about Bush we are talking about Obama's actions as president.