Is the Republican Victory Plan Another Great Depression?

[Freeper]

Omaha Steve  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Sat Jul-31-10 06:30 PM
Original message
Is the Republican Victory Plan Another Great Depression?
   

http://www.midatlanticlabor.com/appiesnet/wordpress/?p=...

Is the Republican Victory Plan Another Great Depression?

07.31.10

Is the Republican Victory Plan Another Great Depression?

It seems like the Republicans in Congress have decided that sabotaging economic recovery and employment growth is their best tactic for electoral gains in the November elections. Indications of this plan have been around since the Democratic victories in 2008. It seems that all doubt about facilitating the economic downturn as a path to political power for Republicans have been removed by recent legislative votes.

Economic recessions and depressions almost always result from insufficient “effective” consumer demand for goods and services produced domestically. In economic terms, wanting something is not “effective demand” . For a want to become a demand for goods or services, it must accompany the desire to buy with the ability to actually purchase. Money is required.

Jobs are not created by just having large pools of investment money available. There must be the opportunity to invest in a business that will have customers who can buy the goods and services before the investment money flows into job creation activities. The Republican Right economic theory that economic prosperity and employment ” trickle-down from the wealthy” has proven to be unsound by historical experience.

Tax cuts for the wealthy create huge investment money pools but not jobs. Our nation has plenty of money setting idle in corporate and personal coffers. Corporations have almost a trillion dollars setting essentially idle in corporate accounts at this time.

Republicans are seeking to extend the tax cuts for the wealthy by falsely stating that increases in taxes for the upper 2% of income earners would hurt demand and prolong the economic downturn. Experience and history prove otherwise.

Tax cuts at the highest marginal incomes brackets do concentrate wealth and political power in the hands of the economic elite. The resulting political power by the economic elite pushes government policy in directions that dramatically cut the percentage of the nation’s wealth and income held by the vast majority of Americans. This reduces the ability of most Americans to buy goods and services. As a result, the economy unwinds because customers do not have enough disposable income to keep the flow of goods and services at a healthy economic level. The former middle class disposable income now controlled by the economic elite funds speculation and unsound “bubbles” in the economy instead of a healthy economy because sound businesses now lack paying customers.

FULL story at link.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8855675

Well the democrats are doing such a bang up job on the economy aren't they?
 

[DumbAss Tanker]

Omaha Steve  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Sat Jul-31-10 06:30 PM
Original message
Is the Republican Victory Plan Another Great Depression?

If it is, it doesn't look like they are going to have to lift a finger to get there, with the great job the Obama economic team and the Dems in control of Congress are doing.

[SSG Snuggle Bunny]

Republicans are seeking to extend the tax cuts for the wealthy by falsely stating that increases in taxes for the upper 2% of income earners would hurt demand and prolong the economic downturn.

*sighs*

I didn't read the whole thing and my reason was justified when I got to this sentence.

Dear Lurking DUmbasses,

If you can't bother to repeat our arguments correctly stop pretending to be so informed.

We do not claim higher taxes curtail demand, we say higher taxes stifle investment because there is no purpose risking capital if the odds of a return diminish because the government swallows your profit margin...and history bears that out.

Got it?

[NHSparky]

Tax cuts at the highest marginal incomes brackets do concentrate wealth and political power in the hands of the economic elite.

And yet the IRS says otherwise.  Oh, shit.

[miskie]

Once again - This time in small sentences....

Republicans are in the minority. Republicans really can't do anything. Even if Republicans attempt to stop a bad bill, there are procedural end runs Democrats can use -- ( See 'Deem and Pass' )

The Democrats are chickens. They demand Republican support for bad bills so they can pin the blame on them when they fail. The Democrats are afraid to forge ahead alone.

[formerlurker]

Once again - This time in small sentences....

Republicans are in the minority. Republicans really can't do anything. Even if Republicans attempt to stop a bad bill, there are procedural end runs Democrats can use -- ( See 'Deem and Pass' )

The Democrats are chickens. They demand Republican support for bad bills so they can pin the blame on them when they fail. The Democrats are afraid to forge ahead alone.

This is all too much for them to absorb.   

The short version:
Supermajority - how is that working out for you? 


On a side note, I enjoy it very much when the leftists in MA point to Romney, Swift, Celluci and Weld for the ills of the Commonwealth.   There are 16 GOP members in the legislature?   Yeah, those GOP governors were tyrants weren't they?

[miskie]

On a side note, I enjoy it very much when the leftists in MA point to Romney, Swift, Celluci and Weld for the ills of the Commonwealth.   There are 16 GOP members in the legislature?   Yeah, those GOP governors were tyrants weren't they?

I know -- it kinda makes me crazy. 10% of the Massachusetts legislature aren't Democrats -- Ten Percent -- There is NO WAY a Republican governor can do anything in the Commonwealth without the support of A Lot of Dems - at least 41% of them.

Yet the primitives are totally incensed because there is a 59 - 41 split in the US Senate. It would be a fricken' miracle for the GOP to take 40% of the legislature here. - Honestly, I do not think I will live to see that happen, and I'm only 40.

[DumbAss Tanker]

Apparently Biden was heard trying to get the phrase 'Bush Recession' to take root, I say we up the ante and go for 'Obama Depression.'

Democrats - taking a bad situation and making it worse since, well, forever.

[BlueStateSaint]

Apparently Biden was heard trying to get the phrase 'Bush Recession' to take root, I say we up the ante and go for 'Obama Depression.'

Democrats - taking a bad situation and making it worse since, well, forever.

Was it Joe Goebbels who said something along the lines of, "Repeat a lie often enough and it becomes the truth," or was that Leon Trotsky?  Slow Joe Biden's trying that tack, I see . . .

[Randy]

So, just how is that Hope & Change working out for you during the Obama Depression?

It sounds just about right.

[jukin]

Note to lurking DUchebags, the republicans can't do anything in congress.  Also there has been loads of bi-partisanship over the past two years and it has been against the Obama and the donk leadership.