>>Dead wrong. Over-regulation, over-taxation, and the Invasion of the Border Crashers led to the current depression.
Sorry, but you are half-wrong. It is both what you said and what I said. It all goes into the pot to create the mess we are in. You base your version of truth on old economy concepts. You can’t support an economy on stock speculation and welfare...or at least not forever. That model has had a good run for about 20 years, but now the welfare state is fully unsustainable and then you use your old economy concepts to blame problems on over-taxation. How do you expect people to live when their jobs are gone? Not everyone is cut out to be a business owner, you know. Would you just say, “Bah. Throw them out in the cold to starve.”
Globalization is great up to a point. Excessive globalization leads to unemployment. Unemployment leads to welfare increases. Welfare increases lead to over-taxation. Over-taxation leads to more globalization.
See the cycle? How do you break it? You either starve people (by cutting welfare without creating more jobs) so the wealthy can get richer or you bring jobs back and that cuts into profits. Or you cut taxes and balloon the debt to still pay for the welfare until the jobs come back.
But what if the decision makers decide to pocket the profits from the lower taxes and still outsource the work? Will they still complain about the national debt that is lining their own pockets?
I supported Trump because he was a realist about the economy. If he switches to being a supply-sider with no plan for creating jobs other than the false hope that corporate decision makers will suddenly become altruistic, then there’s no point in voting for him or anyone because we’re screwed.
“You can’t support an economy on stock speculation and welfare...or at least not forever. That model has had a good run for about 20 years, but now the welfare state is fully unsustainable and then you use your old economy concepts to blame problems on over-taxation.”
How well do you remember the Carter and Reagan years? I suspect you might have come in in the middle of this stretch of history.
The “old economy concepts” are in no way responsible for the continued growth of the welfare state. Reaganites wanted (and want) to end the welfare state, not sustain it.
Further, it is bleeding obvious that industry has fled overseas to escape taxation and regulation, two things that Reagan fought against in conformance with “old economy concepts.”
Another thing you don’t seem to understand is that “old economy concepts” recognize that stock speculation cannot sustain an economy. Reagan sought to get government off the backs of manufacturing industries so they could make us all prosperous.
What you deride as “old economy concepts” are the same classic economics propounded by JFK, by Nixon (less so), and strongly by Reagan. They are not “old;” they are eternal.
Supply-side economics is just another way to say “freedom.”
“Over-regulation, over-taxation” (are the cause)
He’s right. This is a BIG part of the FIX.
It is TIME to DownSize DC. Close entire Rogue/Unconstitutional Departments, including their SWAT Teams.
This is the only path out of the is ComDem engineered mess.
“I supported Trump because he was a realist about the economy. If he switches to being a supply-sider with no plan for creating jobs other than the false hope that corporate decision makers will suddenly become altruistic”
Wow! You really have **no** idea what supply-side economics is about.
Jobs are not created because “corporate decision makers” become altruistic. Did you *really* think that *anyone* thought that? Did some college professor lay that piece of drooling-idiot wackadoodle crap on you?
Supply-side economics hold that “corporate decision makers” create jobs because that is the way that they themselves make money. They create jobs out of enlightened self-interest.
That only happens, though, if setting up and operating a new business is practical. Today, regulations make it a huge PITA. Then, if you get set up, the government levies the highest corporate taxes in the civilized world.
Who needs it? Love of country is not going to keep those dirtbags from bailing out. Hello, China.
Lastly, it has been demonstrated repeatedly that the Laffer curve accurately represents the progress of tax revenues following tax cuts.
Reagan was right.
Reagan was right, and the godless unpatriotic pierced-nose Volvo-driving France-loving left-wing Communist latte-sucking tofu-chomping waitress-murdering holistic-wacko neurotic vegan weenie perverts were wrong.
It’s awfully late in the day to be criticizing classical economics, especially since they have guided policy in no way since Ronaldus Magnus walked into history.