Sunday, April 15, 2007

Fred Thompson: Once Again, He Knows Not His Ass From A Hole In The Ground

I could spend my time destroying Fred Thompson's simplistic and downright silly tax cut arguments published in that house of economic rectitude, The Wall Street Journal. But thankfully I don't have to.

Barbara of Mahablog did it for me, regarding Thompson's repeating myths about Coolidge and Reagan's tax cuts (smart move associating yourself with the guy whose tax cuts for-the-rich helped lead us right into the land speculation that smoothed the way for The Great Depression, Fred).

Barbara was also kind enough to point to an article written by historian David Greenberg in 2004, which clearly shows the difference between Kennedy's Keynesian "demand-side tax cuts" and the supply-side hokum Republicans have dirty dreams about. Notice how marginal rates on those making over $400,000 per year in Kennedy's day were 91%.

So, um, that example sucked too, Fred.

Why not have a tax rate of even 70% for those making over $10 million per annum today (I know it would be tough for poor Republican CEOs to live on that)? Because Haliburton would declare war on the U.S. from their new home in the Middle East.


At 6:37 PM, Blogger GottaLaff said...

Halliburton's already declared war on us. We're just not smart enough to fight back forcefully enough to win yet.

At 6:46 PM, Blogger ohdave said...

Here's where he's smart though. The next GOP nominee will avoid talking about Iraq like the plague. They will get the base all fired up again on tax issues and fuck the poor legislation and vouchers and judicial restraint. This is McCain's big mistake. He is tying himself to the war effort which is why he is tanking in the polls. I heard today that Thompson is already ahead of McCain in the polls.

I really don't think a Republican has a chance in hell of winning in 08. We have at least three candidates that could whup any of their chumps hands down. They are running to see who gets to be the sacrificial lamb.

At 7:53 PM, Blogger Larry said...

Thompson is a dried up phony. He never made an impact while in the Senate, he wasn't missed when he left, and he doesn't stand a chance to win the nomination of his right wing party.

At 8:14 AM, Blogger Leo Pusateri said...

Man, you folks have BDS so bad that you choose again and again to ignore history.

Cuts in tax cut rates work [b]everytime[/b] they're tried. Bush's tax cut rates helped us out of the 9/11 devastated economy. Reagan's tax cuts paved the way for the boom in the 1990s.

Yeah, go ahead and flame away... but your total partisan-based ignorance of history in favor of party politics continues to be nothing less than amazing.

At 10:05 AM, Blogger ohdave said...

Clinton's balanced budget had nothing to do with it, eh Leo?


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