TYT: Supply-Side Economics/Tax Cuts Debunked

[ihavenobias]

Run time: 03:08 https://www.youtube.com/watch?v=-dQUIzzIOPo   Posted on YouTube: July 31, 2010 By YouTube Member: TheYoungTurks Views on YouTube: 304   Posted on DU: August 01, 2010 By DU Member: ihavenobias Views on DU: 979

 
Summary: Cenk shares a great Financial Times piece debunking conservative claims about supply-side economics and the deficit/debt. You can http://blogs.ft.com/martin-wolf-exchange/2010/07/25/the-political-genius-of-supply-side-economics/|read the article here>.

PS---Cenk will be hosting MSNBC Live Monday August 2nd though Friday August 6th from 3-4pm Eastern, 12-1pm Pacific. Watch Live or set your DVR/TiVo to record the shows!

[AlbertCat]

1. Why does anyone STILL have to debunk this crap????

It's been actually, physically and well as fiscally, been proven a failure for 30 FRIGGIN' YEARS now!

Babies born when Reagan started this supply side, Laffer curve baloney are now starting to lose their hair and get beer guts! How can anyone but glassy-eyed Church of Supply Side cult members fall for this?

[Yavin4]

2. People Fall for this Crap Because...

It fits a larger bullshit narrative which is that everyone who works hard will someday be a millionaire, and that they want lower taxes waiting for them when they do. Also, it fits the narrative that only racial minorities need government services, and that government takes away from White people, esp. White working class males to pay for these services.

This narrative is ingrained in the subconcious of millions of Americans, in partcular White middle and working class Americans. It's based on race and stupid greed, but it is a very effective electorial strategy.

The reason why we're not as progressive as say the European democracies are is because we don't base our votes on our economic interests. Instead, we vote based on our prejudicies.

[20score]

3. A big K&R