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Blog of Mass Destruction

Lusting After Reagan's Failure

By The Reverend Published: December 5, 2010

This is must-see teevee for anyone interested in knowing truth. Conservatives....hold your noses if you must....but you really need to see this. To reality-based readers, it's a good time for a refresher on the miserable economic failures of the Father of "voodoo economics."

Visit msnbc.com for breaking news, world news, and news about the economy

The "Rising Tides Lift All Boats" Reaganism theory....

The chart at the 3 minute mark shows that 90% of Americans during the period 1980-1990 saw NO increase in their income, while the top 10% saw their income double.

"Trickle down"...
At the 4:50 mark, from the UPI, Dec. 1989....

"Upper income Americans were the main direct beneficiaries of tax cuts in the early 1980's.....There is no evidence in (our) data that those benefits have trickled down to lower-income Americans."

The fiscally responsible deficit hawking during the Reagan decade.....

At the 5 minute mark, the oh-so-fiscally-responsible Reagan Revolution oversaw an increase in the national debt from $995 million in 1981....to $2.6 billion in 1988. A two-and-a-half-fold increase.

Cutting taxes primarily to benefit America's wealthiest during the Reagan daze led to the biggest disparity in wealth ever recorded.....AND....the national debt increased exponentially while the huge disparity developed.

Now, do you see why Bush's second go around of Reagan's utterly failed trickle down, tax-cutting-to-favor-the-rich policies have failed so miserably for 90% of Americans?

Now, do you see why progressives....reality-basers who accept Father Ronnie's reign, warts and all.....are opposed to going back to the twice-proven-to-be poisonous policies of Republican presidents past?

Finally....What, then......based on the proven facts of trickle down's miserable failures.....what explains the current GOP's apparently insatiable lust to cut taxes for the wealthy? Do Republicans hate average Americans......do Republicans want average Americans to stay where they are economically, or fall further behind? Is that what the GOP wants?

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