Sunday, October 05, 2003
The Tax Cuts Are Working: Hooray For Us And Thank-God!
So says our President.
Gee, thanks for that wonderfully clear, not to say simple-minded explication of your theory of free market economics, but not so fast, Mr. President. Let's take a moment to check out what well-known, universally admired, distinctly left of center, and always witty economist, Max Sawicky has to say on the subject.
One thing about the moral clarity of our President, you never have to wonder if this President might be aware of alternate views outside the particular box in which his own opinions are formed. The chances that any of the President's staff, who by his own admission do his reading for him, would ever have acquainted him with the work of a Max Sawicky can reliably be projected as nil. Not surprisingly considering sentiments like these:
How many of you can even begin to imagine this President having any concrete awareness of the connection between high unemployment and that list of social ills, raise your hands?
Nor is that connection something that your SCLM is going to be talking about the minute there are any continuing upticks in economic outlook. That is going to be our challenge in the next fifteen months.
I know I'm repeating myself, but this challenge is one that can't be repeated, analyzed, and acted upon too often.
Max's own think tank, Economic Policy Institute, has an important site, "Job Watch, Tracking jobs and wages" you should bookmark, and return to often to renew your arsenal of information about the exact dimensions of the failure of Bush's economic doctrines.
One could ask, what doctrines, since other than paying lip service to them, the only legtimate economic role for government the President appears to genuinely believe in is cutting taxes. So don't be surprised that there are more cuts in the (clearing of throat here) pipeline, and as ever, they're skewed to make sure the haves keep on having, in a manner worthy of robber barons.
The point here has nothing to do with anything as exotic as class warfare; if any statement that comments on economic inequities is to be taken as class warfare, then class warfare has been going in this country long before Marx was a gleam in the eye of Papa Marx. Max has one up by Benjamin Franklin; here at 'corrente,' we're planning to replace Monsieur Voltaire with some shockingly radical market-doubting comments by Thomas Jefferson, and yes, the sainted Lincoln.
The point, as John Edwards points out in most of his speeches, better than the other candidates do, even Dr. Dean, is the transfer of wealth from the middle class to the upper economic rungs of our society, by leveling progressive taxation on wages in multiple ways, many hidden, while reducing taxes on unearned income in ways just as hard to keep track of.
The Center on Budget Policy & Priorities has all the gruesome details here.
Study, remember, share.
Buoyed by the first increase in the nation's employment since January, President Bush campaigned in the Middle West today, where he declared that his tax-relief policies would lead the country out of government deficits and toward wider prosperity for the American people.
"It's based upon this theory," Mr. Bush told an audience estimated at 1,000 in the Milwaukee convention hall. "When somebody has more money in their pocket, they're more likely to demand a good or a service; and in our society, when you demand a good or a service, somebody's going to produce the good or a service; and when somebody meets that demand with production, it means somebody is more likely to be able to find a job.
"The tax relief we passed, letting people keep more of their own money, is an essential ingredient to making sure people can find work in America," Mr. Bush said as his audience applauded
Gee, thanks for that wonderfully clear, not to say simple-minded explication of your theory of free market economics, but not so fast, Mr. President. Let's take a moment to check out what well-known, universally admired, distinctly left of center, and always witty economist, Max Sawicky has to say on the subject.
There is a new employment report out today, and the job growth number has finally turned around from negative to positive. 57,000 jobs were added in September, the first positive month since January
(edit)
How big is 57,000? Not big enough to reduce the unemployment rate, since the labor force grows faster than this rate of change implies.
Still, up is better than down. Does it mean the tax cuts are working, or that they could work? No and no. The tax cuts have already failed, the Congress has failed, and the President has failed. All we're doing now is plumbing the depths.
One thing about the moral clarity of our President, you never have to wonder if this President might be aware of alternate views outside the particular box in which his own opinions are formed. The chances that any of the President's staff, who by his own admission do his reading for him, would ever have acquainted him with the work of a Max Sawicky can reliably be projected as nil. Not surprisingly considering sentiments like these:
The fiscal policy mandate for the Federal government is to do its utmost to alleviate job losses. We are now looking at four million jobs lost since the start of the recession. Job losses mean individual bankruptcy, mortgage foreclosure, eviction, repossession, loss of health insurance, homelessness, hunger, and other bad stuff.
The President and other tax cut supporters promised huge job gains as a result of their policies. Instead we are seeing huge shortfalls, relative to their promises.
How many of you can even begin to imagine this President having any concrete awareness of the connection between high unemployment and that list of social ills, raise your hands?
Nor is that connection something that your SCLM is going to be talking about the minute there are any continuing upticks in economic outlook. That is going to be our challenge in the next fifteen months.
I know I'm repeating myself, but this challenge is one that can't be repeated, analyzed, and acted upon too often.
Max's own think tank, Economic Policy Institute, has an important site, "Job Watch, Tracking jobs and wages" you should bookmark, and return to often to renew your arsenal of information about the exact dimensions of the failure of Bush's economic doctrines.
One could ask, what doctrines, since other than paying lip service to them, the only legtimate economic role for government the President appears to genuinely believe in is cutting taxes. So don't be surprised that there are more cuts in the (clearing of throat here) pipeline, and as ever, they're skewed to make sure the haves keep on having, in a manner worthy of robber barons.
The point here has nothing to do with anything as exotic as class warfare; if any statement that comments on economic inequities is to be taken as class warfare, then class warfare has been going in this country long before Marx was a gleam in the eye of Papa Marx. Max has one up by Benjamin Franklin; here at 'corrente,' we're planning to replace Monsieur Voltaire with some shockingly radical market-doubting comments by Thomas Jefferson, and yes, the sainted Lincoln.
The point, as John Edwards points out in most of his speeches, better than the other candidates do, even Dr. Dean, is the transfer of wealth from the middle class to the upper economic rungs of our society, by leveling progressive taxation on wages in multiple ways, many hidden, while reducing taxes on unearned income in ways just as hard to keep track of.
The Center on Budget Policy & Priorities has all the gruesome details here.
Study, remember, share.
