It’s no secret that the only “plan” Republicans really have to address job creation is to push for deregulation and cut taxes – two things that have unequivocally proven time and time again that they have almost nothing to do with creating jobs. If tax cuts and deregulation actually led to strong economic success, Bush’s eight years in the White House would have yielded record growth.
Well, since all other economic indicators under President Obama have been overwhelmingly positive, many Republicans have been left with no other alternative but to complain about the growing problem of income inequality. It’s an interesting complaint considering the wage gap between the average American and the richest among us really began to grow once Reagan and his fellow Republicans forced trickle-down economics upon us. You know, the belief that the more money we give the rich, the better it will be for the rest of us.
If you just laughed and/or cried, I don’t blame you.
Well, over the last 30+ years we’ve given the rich plenty. In fact, over that time they’ve done better than at any other time in our nation’s history, while the rest of us continue to fall further and further behind.
So, the questions I always ask is, “When does that wealth start to trickle down? Just how rich do the wealthiest among us need to be before the rest of us finally start benefitting?”
Naturally, believers in the asinine theory of trickle-down economics never seem to have any answers for those questions.
That’s why it’s peculiar to me when I see Republicans talking about income inequality considering when they point out that it’s a problem in this country, they’re essentially admitting that trickle-down economics is a scam.
Take for instance probable GOP presidential candidate Jeb Bush, who recently admitted his party’s economic philosophy has been a failure for Americans when he pointed out that wages in this country weren’t keeping up with the growing wealth among the richest among us.
“If we grew at a far faster rate, the middle would no longer be as squeezed as they are,” Bush said. “We are in the sixth year of recovery, and median income is below what it was at the start of the recovery.”
Again, I would be amiss if I didn’t point out that big corporations and the rich are doing great right now. Hell, even job growth has been at historic levels while taxes remain very low. In other words, wage stagnation should not currently be a problem – at least not according to the theory of trickle-down economics – but it is.
So, when someone like Bush points out that over the last six years wages have hardly grown, despite the fact that the rich are doing great in this country, he’s literally admitting that his party’s economic foundation is a lie. If all it took was lower taxes and wealth at the top, middle class Americans would be thriving right now.
But they’re not.
The reason why wages have remained flat the last six years isn’t because of higher taxes or more regulations, it’s because businesses have taken advantage of an economic crash that left millions desperately looking for work, with many Americans taking jobs at a much lower wage than they would have previously received.
This isn’t about the economic policies of President Obama, it’s about the greed of corporate America. I can damn well guarantee that if you look at many of these same businesses where wages have remained flat, the executives at most of them have seen hefty pay raises and bonus packages the last few years.
So, if Republicans want to keep harping on income inequality, that’s fine – it is a problem. But they need to realize that every single time they do, they’re admitting that the bedrock of their economic philosophy is a complete scam.
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