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It's time to talk about the elephant in the room. The elephant that doesn't know economics or good public policy. How are there any supporters for Republican/conservative/right-wing politics? They are devoid of facts and bad for the health of our society. Here's a few points:
They believe tax cuts and breaks - primarily for the rich and big corporations - lead to economic growth and prosperity. However, decades of research studies reject this premise. Tax cuts and breaks do not lead to economic growth. Instead, these forms of public policies increase income inequality because the rich and corporations are the main beneficiaries of these forms of tax reliefs. Taxing the 1%: Why the top tax rate could be over 80% | VOX, CEPR
Tax cuts and tax breaks do not create jobs. In fact, 14 of the largest corporations with the lowest effective tax rate - paying no income taxes - shed 63k jobs over a five year period despite $107 billion in pre-tax profits. However, 14 of the largest corporations with the highest effective tax rate created 115k jobs over the same period, reporting 168 billion in pre-tax profits. Think Corporate Tax Cuts Create Jobs? Think Again. | Center for Effective Government
Although corporations are richer than ever, in the midst of some of the lowest taxes they've seen in a century, this record amounts of corporate profit is being extracted for stock buybacks to increase stock performance rather than higher wages and investment. Stock Buybacks Are Killing the American Economy - The Atlantic
It's evident the republicans favor lower taxes and tax breaks, and we know that those public policies increases income inequality. Let's go further.
From 1913 - 1933 and 1977 - 2008, the tax rates and tax breaks were persistent public policies. As a result, the top earners gained most of the income gains. What happened? When the top earners share of the national income peaks (23.9% in 1928, 23.5% in 2007) there is a major economic crisis. During these time periods, median wages declined and stagnated, economy performance worsened and collapsed. However, from 1947 - 1977, when top marginal tax rates were at all time highs, more of the income gains went to the middle class, median wages surged and the economy grew faster, given the ability of the middle class to consume more, and better jobs were created.
In summary, Republican administrations steered the nation into both the Great Depression and Great Recession by drastically lowering taxes allowing most of the income to concentrate at the top, effectively pulling the rug from under the economy. The most recent decline is traced back to the Reagan administration, where income inequality began to rise.
Income inequality is associated with social mobility. Countries with high income inequality have lower social mobility. That is, the American Dream is now better lived in other advanced nations. Thanks Reagan! http://www.brookings.edu/~/media/Mul...ducation/2.jpg
They combat increases in the minimum wage-----------------------------
Raising the minimum wage does not hurt the economy or job creation. Research shows there is little to no evidence of a negative association between increasing minimum wage and employment. http://www.irle.berkeley.edu/workingpapers/157-07.pdf
They are consistently in favor of cutting social programs that benefit the middle class and poor, which of course positions our nation behind our advanced peers. They irrationally believe government spending on thee programs creates dependence on government, yet it actually increases social mobility. Government spending and intergenerational mobility
The Democrats gave us Vietnam (Kennedy, Johnson); double-digit inflation, interest rates, and unemployment (Carter); the dot-com collapse (Clinton); bad loans to dead-beat home buyers (Carter's CRA, Clinton); NAFTA, globalization, and off-shoring of American jobs (Clinton); the repeal of Glass-Steagle (Clinton); and now a president (Obama) who has more than doubled the national debt from $9 trillion to over $18 trillion and is determined to import a tsumani of cheap illegal labor.
1. So you agree that the claim that Republicans Presidents have resulted in 2.5 times the debt of Democrats Presidents is highly inaccurate...because that is grossly false, as are all those other unsubstantiated claims.
the OP is clueless.....there are many factors that move an economy and it doesn't all come from 1 branch of government.
Our system of government isn't made up that 1 branch of government or the whole government controls the whole economy.
There are definitely many factors that move an economy, some of which I haven't gotten to yet.
For now, I'll just refer you to a previous post.
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Originally Posted by Stephen1110
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Conservative shifts in policy and Republican strength in Congress are associated with higher levels of
inequality.
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The impact of a one percentage point increase in the share of seats held by Democrats in Congress decreases the top income share by about .08.
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Democrats are more favorable than Republicans toward social programs that redistribute income, but the parties also differ over what the economic rules of the game should be. Based on our analysis, Democrats appear to favor an economic system that produces more egalitarian outcomes even before any redistribution occurs. In essence, the market is not completely beyond the influence of politics and policy, and it is not just in the realm of explicit redistribution that political parties produce divergent distributional outcomes. Political decisions in part “make the marketâ€
While there are other factors - which I am certain to get around to - studies show that one percentage point increase in the share of seats held by Republicans increases the top income share by .08%. So, not only does the economy do better under a Democratic president, but income inequality is decreased - and by association, social mobility is increased - under Democratic congressional strength.
Republicans don't talk about the economy as Romney did during his campaign precisely because it has flourished under this great President Obama. Excellent post. Republicans simply decimate the economy trying to fortify the rich, while everyone else goes to hell. They haven't a clue.
Republicans usually get into office to clean up the Democratic mess. So they will have slow growth for a few years. The Democrats come into power after the Republicans and gain from lower taxes and sometimes less government that the GOP puts into place. We have not seen much positive economic success under Obama. I don't count the stock market since it's being proped up by the FED. Once Obama is out the FED will raise rates, a lot, that will kill the market and maybe confidence in the consumer. The FED;s whole mission in life the last 7 years was to support the 1st black President.
Think both kind of are stinky when it comes to the economy. One taxes you till you have nothing left on your wallet, but moths. The other spends frivolous amounts on project's or gives kickbacks to corporate individual's. So I mean you have money then wam they take it away.
the OP is clueless.....there are many factors that move an economy and it doesn't all come from 1 branch of government.
Our system of government isn't made up that 1 branch of government or the whole government controls the whole economy.
Really? 90 years ago, when the economy was the most prosperous, the federal government only controlled 5% of the economy. Now they control over 50%.
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Raising the minimum wage does not hurt the economy or job creation. Research shows there is little to no evidence of a negative association between increasing minimum wage and employment.
Excellent thread speaks the truth
