Do any of you folks here who are demanding tax cuts for billionaires and their scions really convinced that those tax cuts for billionaires will bring the economy back?
Why would the superwealthy invest money into the USA supply side when nothing else has changed?
In fact, why would they invest in the USA supply side even if the USA cuts back on FEDERAL spending?
If the USA actually cut back on Federal spending enough to make a dent in the deficiet, their number one CUSTOMER for good and services in this nation is going to stop buying from THEM.
Like I say, nobody I can think of in power has a plan that convinces me they've got the real long term solution to this eroding economy.
Let's put it another way: Do you suppose increasing taxes will help the economy?
Not unless the revenue is invested sensible, no.
In fact, I'm on record on this board as having repeatedly said that I am dubious that NOW is the time to raise taxes.
I just don't buy into the GOP theory that giving people who already aren't investing (and who are collectively already sitting on trillions of dollars they're not investing) will suddenly invest into an economy that isn't healthy.
If the GOP tricklly down theory worked (it doesn't it never has) then Bush II would have handed Obama a healthy economy since the wealthy are paying less taxes now than they did when Bush II came into office.
Wealth doesn't trickle down, it trickles up, sport.
Bill Gates isn't shit without his employees.
Your investments make you money because workers create wealth that your money
helped them create.
This capitalist society needs BALANCE.
It needs a worker/consumer class AND it needs a CAPITAL class, too.
And when society get out of calance, when either the CAPITAL class has too much of the society's wealth, or thye soncusmer class has too much of the society's wealth that society is not running efficiently.
AFter nearly 40 years of supply sider economics, the inequal balance between SUPPLY (read wealth) and DEMAND (read consumers) is so out of kilter that all that wealth seems to be able to do now is buy government and create BUBBLES with their money as people like you TRY to find profits that aren't as high as they should be.
The reason some of us are wealthy is because enough of us have enough.
When that gets out of line societies' economies fibrilate.
And that is what is happening right now.