Thursday, March 17, 2011

Another Great New Republican Economic Idea

Well, not so new, and really, guys, not all that great, either.  From Daily Kos, the following news:

"Ways & Means chief David Camp wants to return to 1931 tax rate...The extension of Bush-era tax cuts for the rich that caught howls from liberals last December is nothing compared with a new proposal that would, once again, reduce the progressivity of the U.S. tax code. This time it would take us back 80 years, a match for what it was in 1931, with a top marginal rate of 25 percent..."America needs a tax code that promotes, not prevents, job creation," (Camp) said."

And we all know how great the 25% top tax rate was at generating jobs in 1931.  There is just no damage to the country that's too much for Republicans, if it puts another dollar in the pockets of the rich.  Are they so greedy that they are indifferent to the consequences, or are they actually trying to cause a depression, so they can blame it on the Democrats?  I can't really tell at this point.

Kos helpfully provides the following chart to make his point:

Here's what thirty years or so of Republican-driven economic policy has done for our country. Pretty shocking, when you see it in this unadorned form, huh?  I hate to say it, but I'm afraid we're screwed.

1 comment:

Dave Dubya said...

We are looking at the realizatiion of the Reich Wing's neo-feudal plutocracy. Only more democratic socialism can save us. This all about totalitarianism crushing democracy, while ignorant, hateful voters give it all away to the elites.