“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.”
>>Supply-side economics is just another way to say “freedom.”
I’m 54 so I remember Carter and Reagan. Can’t you see that the conditions are quite different between now and then?
But, you are correct. Supply side is freedom. It is also lassaiz-faire. A managed economy fails badly. A free economy fails just as bad when half of your country is not working.