Move over, Holy Spirit. Your place in the Holy Trinity is about to be supplanted by a stronger article of faith in Republican Theology: the worship of the Holy Tax Cut, as inspired by Saint Ronnie. But would Reagan approve this?
As Congress prepares to take up extension of the Bush tax cuts during its lame duck session, Republican lawmakers have been unanimous in demanding that the cuts for the richest two percent of Americans be extended, claiming they are necessary for economic growth and that tax cuts (miraculously) pay for themselves.
While independent economists have shown these arguments to be false, today on CNN’s Fareed Zakaria GPS, President Reagan’s former budget director took on his own party for pushing this faulty logic. David Stockman, who led the all-important Office of Management and Budget under Reagan and was a chief architect of his fiscal policy, criticized today’s GOP for misreading Reagan’s legacy by adopting a “theology” of tax cuts… [emphasis added]
Inserted from <Think Progress>
Here’s the video.
Today’s Republican Party has shifter so far to the right that, had Reagan emerged now and run for a seat in the legislature, he would have been accused of being far too liberal, challenged in the primary with massive corporate spending arrayed against him, and defeated.
10 Responses to “Republican Economic Theology”
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We all have greed, they are just in a better position to fulfill theirs.
And some of us place limits on our greed.
Your very last line says it all, TomCat. These people are INSANE!
Thanks, Jack. Indeed they are!
I’m sorry, but as a CPA, that math doesn’t add! 🙄
Shhhh! 😎 We aren’t supposed to know.
That’s a great figure, TomCat. Do you have a reference for it, other than the source noted at the bottom?
Thanks Jerry. I do not, but if you go digging at the CBO, I trust you can find the supporting data.
OK, I will give iit a try. A while ago, I tried to find supporting data for another CBO referenced figure and had no luck. Maybe I will do better this time.
Their site is certainly not user friendly. 🙂