| Re: Rightards lie all the way back to Carter |
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Group: alt.philosophy · Group Profile
Author: Michael CoburnMichael Coburn Date: Sep 15, 2008 15:19
On Sat, 13 Sep 2008 16:15:42 -0700, Shrikeback wrote:
> On Sep 13, 1:30Â pm, Bret Cahill aol.com> wrote:>> The corp. media don't want the public discussion on economic issues but
>> who cares about them?
>
> Yeah, you'll never hear them talk about the Jimmy Carter double-digit
> everything high-tax economic staglfation boom, the threatened
> ressurection of which is the only vital economic issue this election.
> So spread the word: the peanut gallery won't do it for you.
The so called "Carter" problem was inherited from a long line of tax
cutting and spending politicos starting with the patron saint Kennedy who
cut taxes on the rich from 9x%% to 70%%. That was the beginning of the
inflation problem. The dual "wars" of Johnson (Vietnam and the War on
Poverty) and no increase in taxation exacerbated the problem of
inflation, but Johnson _KNEW_ he was causing inflation and often spoke of
it as helping the farmers (which it did). At that time the tax code was
not indexed and so the government also benefitted from the inflation. In
this case the tax cuts actually did increase the revenue although at the
expense of the productive sector. Then along comes Nixon and instead of
putting the tax code back to the way it was, he does wage and price
controls, and removes the gold standard due to its "inconvenience". And
Nixon decides to declare victory and leave Vietnam dumping a lot of
military people into the job market and we have stagflation.
Carter was the inheritor of all this malfeasance. He did not create it.
He, like any other politician other than Clinton, decided to dump the
problem on the Fed and thus hired Paul Volcker as the hatchet man.
Ronald Ray Gun was the beneficiary of this action. Carter was tossed and
Reagan had the Volcker (the Carter appointee) to use as the bad guy.
Reagan ab-used the Fed and Carter to create the biggest handout to the
rich in history with his tax cut for the rich from 70%% to 28%%. And as
the Fed was able to declare victory over the inflation monster and eased
monetary policies, the economy grew. Ray Gun and the voodoo econ supply
side trickle downers were able to prance and preen and declare that "See,
deficits don't matter".
And now at the end of 30 years of lying stupidity and greed, the reality
is coming home to roost. We now pay almost $400B in interest on the debt
of the republican borrow and military war rightarded fascists. That debt
is 80%% military spending debt. It is the price of Republican fascism.
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