Supply Side Economics Has Been an Epic Failure

[BigLouie]

Sometimes there isn’t a mountaintop high enough to shout out the obvious: SUPPLY-SIDE ECONOMICS HAS BEEN AN UNMITIGATED DISASTER! Period, end of discussion.

The facts are as clear as the nose on your face. Not only has this bastard-child of an economic scheme been responsible for the bulk of the U.S. debt over the last three decades, which the vaunted defenders of the faith fail to even acknowledge, it has been responsible for the biggest upward redistribution of wealth in this country since the 1800s – the time of the great land barons.


Just take a gander at the data from the chart below. Read it and weep. It’s easy to understand how Republicans can continue to sell a failed and morally bankrupt economic philosophy to the American public; it’s all they have left. What still befuddles the mind is how the American public keeps on buying it.

[Fast Gunn]

Reagan really pushed his Reagamomics on this country and many people bought into it.

It was really a great scheme, but only for those at the top of the food chain and the so-called "trickle-down" effect was just smoke and mirrors that never bore fruit.

. . . Why so many still admire Reagan is beyond me!

[wellendowed1911]

Originally Posted by Fast Gunn

Reagan really pushed his Reagamomics on this country and many people bought into it.

It was really a great scheme, but only for those at the top of the food chain and the so-called "trickle-down" effect was just smoke and mirrors that never bore fruit.

. . . Why so many still admire Reagan is beyond me!

Totally agree and the GOP wants to talk about class warfare-lol How many times did Reagan raise taxes? Reagan tripled the deficit- inflation rose, but I guess he gets a pass- also at the same period during Reagan's term UE rate went up and it didn't go down until 2nd term

[cptjohnstone]

Originally Posted by Fast Gunn

. . . Why so many still admire Reagan is beyond me!

he needs to be on Mt Rushmore

[cptjohnstone]

Originally Posted by wellendowed1911

Totally agree and the GOP wants to talk about class warfare-lol How many times did Reagan raise taxes? Reagan tripled the deficit- inflation rose, but I guess he gets a pass- also at the same period during Reagan's term UE rate went up and it didn't go down until 2nd term

he got the idea from John F Kennedy, a donkey

[CuteOldGuy]

Reagan couldn't have done it without the support of Democrats in Congress. G Bush 41 also needed Democrat help. Pres Clinton kept it going, a Democrat. GW Bush also needed some Democrat help, so to blame this all on Reagan and the Republicans is ridiculous. It was a team effort, and is the natural result of crony-capitalism, not supply-side economics.

[TexTushHog]

Oh, come on, you can do better than that!!

Check out the graph that accompanies this story:

http://www.nytimes.com/2011/10/29/op...ipe-dream.html

[Boltfan]

Retread thread. Hell even the same graphic was posted.

[JD Barleycorn]

You destroyed your own argument from the very first post. Supply side economics? How long have we not been doing that. Those great days that you show on your graph were supply side economics without all of the EPA regs, the EEOC regs, the OSHA regs, the MSHA regs, and all the other regs that have been added since the 1950s. Supply side economics? It cost thousands of dollars to hire a single individual today because of all the rules. A small business with a gross income of 5 million dollars has to pay the same amount of money that a large business with a gross of 100 million dollars to hire a new employee. Small business is the engine that makes our economy run and yet we have shackled small business with all of these rules that make small business reluctant to hire anyone. This isn't supply side economics. This is a semi-state controlled economic model and the rot set in when the government became more involved. The direction you want to go is socialism and things will go from bad to worse.

[dilbert firestorm]

Originally Posted by JD Barleycorn

You destroyed your own argument from the very first post. Supply side economics? How long have we not been doing that. Those great days that you show on your graph were supply side economics without all of the EPA regs, the EEOC regs, the OSHA regs, the MSHA regs, and all the other regs that have been added since the 1950s. Supply side economics? It cost thousands of dollars to hire a single individual today because of all the rules. A small business with a gross income of 5 million dollars has to pay the same amount of money that a large business with a gross of 100 million dollars to hire a new employee. Small business is the engine that makes our economy run and yet we have shackled small business with all of these rules that make small business reluctant to hire anyone. This isn't supply side economics. This is a semi-state controlled economic model and the rot set in when the government became more involved. The direction you want to go is socialism and things will go from bad to worse.

fascism

[Iaintliein]

Indeed, comrades, everyone knows that central planning by the government is the only way to run an economy!
ROFLMFAO

[CuteOldGuy]

The statistics are typical of crony-capitalist states. And really, TTH, the NYTimes? An authority?

[WTF]

Originally Posted by cptjohnstone

he needs to be on Mt Rushmore

yea, hanging from rushmore. What was his energy plan again?

[WTF]

Originally Posted by Iaintliein

Indeed, comrades, everyone knows that central planning by the government is the only way to run an economy!
ROFLMFAO

so abortion should be left up to the person preggo?

[CuteOldGuy]

WTF, how does that even apply to the current discussion? My answer is, of course, yes, but even if it were "no" it has nothing to with central economic planning.