When we say that wingnut economics is discredited, this is why July 13, 2009
Posted by Evil Bender in News and politics, economics, wingnuts.trackback
Over at Atrios’ pad, echidne notes that Republicans don’t seem to mind screwing over ordinary people, but slight tax increases on the rich are right out. We all knew that. We also knew this:
Senator John Kyl, the Republican Whip, also flatly rejected any such tax increase.
“We’re in a recession,” he told CNN. “It would be a job killer. It would be exactly the wrong thing to do any time, but especially when we’re in the middle of a recession.
Recession? Cut taxes! Boom? Cut taxes! Inflation? Cut taxes! Deflation? Cut taxes!
Seriously, if it’s “exactly” the wrong thing to do at any time, how can that be more true during a recession? These assholes aren’t even trying any more.
AFAIK, microeconomics is pretty much settled science. The real research and discussion is mostly in macroeconomics. Indeed, there’s an old jake about how if you put three economists in a room and asked for their thoughts on something you’d get four opinions.
Essentially, economics is complicated, and so are national economies. When a national economy has problems, there are no easy solutions. In some circumstances, a tax cut might solve a problem. But so might deregulation, reregulation, increasing spending, shifting around appropriations, or even some combination of these things. Indeed, doing nothing and letting things sort themselves out might even be the best solution. The key point is this: there is no economic fix-all. Hence, I think the issue with Kyl is not his advocacy of additional tax cuts per se, but rather his preconceived notion that his preferred course of action is the solution to every problem.
I would like to push on you my long-held contention that American Conservatism is about nothing but greed, or as it is more commonly put, “cut my taxes.” The rest is all window dressing, intended primarily to convince themselves that they hold the moral high ground.
There is, therefore, no such thing as conservative “ideology,” as they are not advancing any real position, but rather claiming to believe whatever alleged argument or fact that supports their immediate purposes.
Having no real beliefs, they have no qualms about the inconsistency or fallacy of their arguments, and it will only drive you to distraction to expect that truth or consistency means anything to them.
I’ll up the ante -
Conservatism is about freedom for people with money while restricting the freedoms of that “other no-so-rich guy.”
I’ll buy into that. Somehow or other, they manage to convince millions of suckers that, somehow or other, if they just let the rich do whatever suits their purpose, they too will someday get their hands on a lot of money.
A few winners and a hell of a lot of suckers standing around in parks screaming about taxes. That’s what they’ve got.
they manage to convince millions of suckers that, somehow or other, if they just let the rich do whatever suits their purpose, they too will someday get their hands on a lot of money.
Yup, supply side economics is absolute genius at getting the rich richer. As a description of reality, not so much.