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Tuesday, September 14, 2010

Griper Blade: Fact: Republican Economic Policies Suck

If you give the rich tax cuts, they'll create jobs. That's what we keep hearing. But, like all political and media debates these days, no one is required to bring any facts, no one has to demonstrate why this is so or how it supposedly happens. It's a discussion of theology, not economics, and it's only true because Republicans believe it so strongly. St. Reagan said unto the multitude that it was so and lo, it was manifest. The dogma must not be questioned.

If facts are unwelcome, then a recent report will be taboo. It turns out that people who are well-to-do are wealth collectors and don't spend money they don't have to. Not much of a surprise there. I suppose that's one reason why they're rich.

Bloomberg News:

Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among the rich, according to data from Moody's Analytics Inc. When taxes were raised under Bill Clinton, the saving rate fell...[CLICK TO READ FULL POST]

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