January 18, 2008



IMPEACH BUSH



IMPEACH CHENEY



TIME FOR TRICKLE UP ECONOMICS



Republican style economics have been tried several times in the past 100 years or so. Every time they've been a disaster. We got the Great Depression with Hoover. We got recessions under Eisenhower. We had stagflation under Nixon and Ford. We've had huge deficits and inequality under Reagan, Bush, and under the second Bush. Instead of constantly cutting taxes for the rich, and claiming the benefits will trickle down to us, which they haven't, let's cut taxes for the majority of us. This article by Stephen Pizzo is at www.smirkingchimp.com:


1) Revoke the Bush tax cuts for the top 1%
2) Shift those cuts to reduce the payroll tax by the same amount.

That's it. A two-point economic stimulus package that will pump $1 trillion into the pockets of American consumers. And, rather than that money flowing into family trusts and other paper investments, it will get spent, piece by orderly piece, each week, every week, forever. So, if congress is itching to make a tax cut permanent, that's the one -- a payroll tax cut.

The beneficiaries of the Bush tax cut had their chance to prove the trickle-down theory, and failed -- just as they failed the last time it was tried by Ronald Reagan. Both attempts left America saddled by back-breaking deficits and debt. Both attempts enriched the already enriched at the expense of middle class working Americans.

They had their chance. Now give trickle up economics a chance. Revoke the Bush tax cuts for the top 1% and give them to working Americans.
Then, just so they feel like they're getting a piece of this new action, send each of America's top 1% earners a government check for $300 as their share of our economic stimulus package -- with our compliments.