GOP Hell-Bent On Tax Favors For The Rich Financed By Cuts To The Poor

Republican lawmakers are locked into an ideology of trickle-down economics. They believe giving tax breaks to the rich will result in prosperity for everyone, or at least that’s what they tell the public. It’s sometimes hard to believe grown adults advocate such nonsense, but here we are, some 30+ years into a massive experiment of wealth redistribution to the top 1%. What do we have to show for it? The free-market advocates will say taxes are still too high, there are still too many government regulations, and if we cut both we will be on the road to prosperity. But whose prosperity? Does the rest of the country buy this nonsense? Apparently a large percentage of Americans do subscribe to this bombast. It’s the only way it’s lasted (even thrived) for so long.

• • •

Obama Calls ‘Paul Ryan’ GOP Budget ‘Thinly Veiled Social Darwinism’, But There’s Nothing ‘Veiled’ About It

Speaking at an Associated Press luncheon on Tuesday, President Obama called Paul Ryan’s (R-WI) Republican budget plan “thinly veiled social Darwinism.” The president was referring to the budget’s massive tax cuts for the rich and steep cuts to programs for the poor. The GOP budget is nothing more than trickle-down economic theory, a religion to Republicans. It’s also the same economic theory that has for 30 years failed to produce even a trace of the “trickle down” promised.

• • •

We Need The Trickle To Stop

I’ve written before about the failed ideology of trickle-down economics. It amazes me that so many prominent Republicans can continue to support this lie despite a mountain of evidence to the contrary. If tax cuts create jobs then how do we explain the past 10 years of the Bush tax cuts? If increasing taxes kills jobs then how do we explain the 1990s? If higher tax rates mean that investors will flee then how do we explain the much higher tax rates in the many decades leading up to the 1980s? You probably heard that billionaire Warren Buffett famously said that his secretary pays a higher percentage in taxes then he does. Warren is again raising awareness to the failed ideology of trickle-down economics in a New York Times Op-Ed article. Below is an excerpt from that article.

• • •