The economic principles of supply side economics (voodoo economics) have not only been discredited intellectually, it has been discredited in practice. After-all, it is true that Reagan’s eventual good economy only resulted from reverse Keynesian economic policies effected by reducing taxes and increasing spending simultaneously.
Of course GW Bush continued the tax cuts. As his fiscal irresponsibility continued two things were distinctively evident. Firstly, a large transfer of wealth occurred from the middle class to the wealthy. Secondly, the jobs that the wealthy would have created with their disproportionate tax cuts did not create any jobs.
The Right Wing echo chamber has been effective however. It continues to deflect the genesis of the American conundrum, the wealth disparity effected by corrupt politicians passing policies instigated by bribes from the wealthy class. Instead of middle class anger being directed at the wealthy and politicians who codified the pilfering, middle class anger is directed at the lower classes and union workers.
The middle class must realize that whatever government help the lower classes receive is a pittance relative to the giveaways to corporations (including the military industrial complex). As well, the middle class should fight for the same wages and benefit afforded union workers instead of working towards the further lowering of American labor standards by supporting the demise of the union. The middle class should fight for benefits and wages at least as good as unions not fight for the unions to lose theirs.
The middle class must realize that corporations and the wealthy have always had unions. Their union is the Chamber of Commerce and the myriad of trade organizations that they use to lobby and bribe our politicians. Most importantly the middle class must educate themselves and do so quickly. After-all, the owners of our mainstream media as well as the Right Wing echo chamber are all wealthy corporations. GE owns our most “Liberal” station MSNBC. As such one cannot expect complete unbiased information. It is for this reason that the middle class more now than ever must be willing to find unbiased sources and raw data so they can interpret whatever information they are forced fed.
The country is at a turning point. It is not cliché that the transfer of wealth in effect now will make the middle class nothing more than indentured servants. Many in the middle class already are.
My Book: As I See It: Class Warfare The Only Resort To Right Wing Doom
Book’s Webpage: http://bit.ly/aB9Zkz – Twitter: http://twitter.com/egbertowillies