MasterJaguar01 -> RE: Income Inequality is costing the US on Social Issues (5/2/2015 4:30:16 PM)
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ORIGINAL: HunterCA quote:
ORIGINAL: MasterJaguar01 quote:
ORIGINAL: HunterCA Frankly, I still think the battery technology would have been benificial to me living off grid. But then system failed with the whole Obama weird Keynesian spending thing. Leftist economic theory just does not work....ever. OK ok ok ... Sorry for the thread drift, but I would like to point something out, that might blow your mind. Believe it or not, it was Reagan who PROVED Keynsian spending worked! It wasn't his tax cuts that created jobs, it was his economic stimulus! He happened to spend it on defense, which at that time, was in a transition, which spurred new Engineering, Manufacturing, and Information Technology :) Ignorant Republican politicians (Newt, Paul Ryan (the faux intellectual of the group), Ted Cruz, Rick Santorum) to name a few, love to bring up Reagan as an economic success, and BADLY misunderstand WHY. If they only knew. There is definitely a real-life model for Republican economics. It is called Kansas. OK... Back to your regularly scheduled thread :) Hum, my understanding was that the Reagan tax deal with the democrats actually cut defense spending 7%. I believe I posted s link to that earlier. He may have changed direction of the spending into new technology, but it wasn't a stimulus. I'm going to have to call BS on that unless you have some links. Call BS all you want. Reagan's massive defense spending stimulated the economy. I know it, and everyone one my age in Info Tech knows it. I don't need any links... But if you want links... http://www.usnews.com/opinion/blogs/scott-galupo/2011/11/01/ronald-reagan-practiced-keynesian-economics-successfully http://www.newyorker.com/news/john-cassidy/reagan-bush-and-obama-we-are-all-still-keynesians http://www.bloomberg.com/news/articles/2011-06-21/ronald-reagan-s-accidental-keynesian-stimulus-echoes I will correct one thing I said... I said that it wasn't his tax cuts that created jobs. At the middle-income level, they spurred demand. The upper end tax "cuts" were really tax (much needed) REFORM. Getting rid of the rid of the 20 different rates... The highest being a ridiculous 70% (which no one paid anyway) (coupled with getting rid of the loopholes which allowed the wealthy to avoid paying.) In order of impact: 1) The massive economic stimulus 2) Middle class tax cuts 3) Tax Reform Anyone who really understands economics understands this. Anyone who was working in IS, or Engineering at that time very well understands this (or should). Whether or not he intended it as a stimulus, he and Obama have proved Krugman right.
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