Monday, June 18, 2012

Stop writing sob stories about poor sez GOP hopeful

In yet another example of Compassionate Conservatism, modeled on the teachings of Jesus, GOP senatorial candidate Eric Hovde of Wisconsin said that the press should really stop writing about the struggles of poor people during this recession that his party created through financial deregulation and tax cuts for the rich.  Mr. Hovde says he is sick and tired of reading stories that say, "Oh, the person couldn't get, you know, their food stamps or this or that."  Unsurprisingly, Hovde then indicated that he supported more tax cuts for corporations, and the contradictory position that we need to reduce the cutting taxes on corporations who can afford to pay more.  I know, I know, voodoo economics 101 says that cutting taxes for a corporation magically creates jobs, but this falsehood has been repeatedly rubbished in this recession and the previous ones, all the way back to when Trickle down economics was first proposed.  The fact is that many corporations already dodge most of their tax liability anyway.  They don't need any help, and they are certainly not going to use their latest windfall to "create jobs" when they know that their customers don't have any disposable income to spend.  What would "create jobs" would be for middle class people to have more disposable income, which requires that we cut their taxes, not the taxes of the wealthy who already have more disposable income than they need, by definition.  For more discussion on this point see Why Trickle Down Economics Never Worked.

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