In 1981, when Ronald Reagan came to office I was concerned that his economic policies that he was proposing were insane. They made no sense to me as an economics major. Trickle down economics, his theory that giving tax breaks to the rich would trickle down to the middle class and make the economy boom was implausible. It was, in my opinion, one of the most bizarre and illogical ideas I ever heard and even George Bush Sr agreed. Heck he even called it voodoo economics. But heck, I was just a 23 year old and too young to understand things. Or was I?
This week we barely missed going into the Great Depression part two. It was inevitable. What bothers me is that all of the billionaires and millionaires who have made so much money got bailed out and now we, the taxpayers, the hard working individuals and families have to pay for all the losses. Do the rich people who basically stole my money and your money have to pay? Hell no. Now they put up a candidate who not only doesn’t want to pay more taxes, he wants more tax breaks for the wealthy. How much more do they want to steal from us now?
The rich have gotten richer in the past 30 years and the middle class has been squeezed and the poor have gotten nothing and been swelling over the years. On September 16th with the takeovers of AIG, trickle down and the nonsense of the past 30 years have come to an end.
Funny to hear John McCain talking about increasing regulation of the financial markets when his party spent the past three decades espousing deregulation and his chairmanship of commerce commitees were at the forefront of the deregulation movement. What a hypocritical position. While my blog is not intended to be a political blog, I am sitting here in my living room looking at my children wondering how the hell they are going to pay for this mess. I don’t know, do you?
I urge my readers to vote for Barack Obama and end the decades of the same bad economic policies that have put us on the brink of disaster. He may not be the perfect candidate, who is, but he does represent a change we really need badly or all of the sacrifices our ancestors made for this country go for naught.