Tuesday, November 30, 2010

Are there really people that stupid in Congress?
SHADEGG: Aha! So your answer is it’s the spending of money that drives the economy and I don’t think that’s right. It’s the creation of jobs that drives the economy…
Wow, we are now stuck with generations of economic idiots who still haven't gotten the memo about the 'trickle-down' fallacy.

Ronald Reagan didn't double federal revenue, idiots. If you have $6 and I give you $3 more you didn't double your money.   Revenue went from $600 billion to $900 billion in Reagan's eight years.  And if giving the 'job creators' tax cuts created jobs, George W. Bush wouldn't have the 'worst track record on record' on job growth.  We would be drowning in jobs if it were tax cuts that created them. And of course, Reagan didn't really cut taxes for most people. In fact, as you well know, he gave us the largest tax increase in our nation's history in 1982 and then raised taxes again in 1983, 1984, 1985, 1986 and 1987 - not on the top brackets of course - just social security recipients and middle-class workers. But, people are as ignorant about those facts as Rep. Shadegg is on the simple theory of supply and demand.

Spending does drive our economy. You wouldn't create a job if you couldn't sell your products, numbnuts! Every dollar spent on unemployment insurance 'generates an additional $1.61 in economic activity'.

Economic prosperity trickles up, not down.  Just ask Reagan's budget director.

CBO historical data