Monday, July 4, 2011

Down the Rabbit Hole

Krugsandra is mildly concerned that we are returning to the failed economic policies of a generation ago.
[T]rickle-down is clearly on the ascendant — and even some Democrats [like President Obama] are buying into it. What am I talking about? Consider first the arguments Republicans are using to defend outrageous tax loopholes. How can people simultaneously demand savage cuts in Medicare and Medicaid and defend special tax breaks favoring hedge fund managers and owners of corporate jets?
But we know how to solve our economic problems, we've been here before.
What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does not need is a transfer of billions of dollars to corporations that have no intention of hiring anyone except more lobbyists.

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