JamesCurran wrote:
Wrong on pretty much everything there.
- The prosperity of the Clinton administration was well underway long before the internet boom. He was the only president since Johnson to make it through his term recession-free.
- No one doubted the economy would continue to improve under Reagan, as the recession of 1980 had ended 6 months before. The economy was never in a "tailspin" under Carter -- The Dow actually did quite well -- The OPEC oil embargo threw the economy into a spell for a bit, but it had recovered.
- You completely forgot about the recession of 1981-82.
- What the economics experts really WERE saying was the Reagan economic plan during the high-flying mid 80s was "a textbook case on how to CAUSE a recession" -- which was exactly what it did do -- You'll recall the day in 1987 when the Dow lost 25% in one day -- erasing nearly all the gains under Reagan.
-The equivalent of the "internet boom" that happened during Reagan's time was the women's movement --- at the start of his term, most women were housewives; by the end, most were working outside the home. This led to essentially a "fire sale" on workers, and labor costs (salaries) dropped -- hence the boom. That's also why in the 70's family could get by on one income, but by the 90's, most needed two.
-There is no rational way to argue the tickle-down WILL work. It requires rich people hiring workers they have no business need for, out of charity. It just won't happen. (You also show how little you understand about economics -- your "rational" explaination of Supply-side economics, is actually describing Demand-side economics -- except you are limiting it to a tiny percentage of the population. Use the same explaination, but with everyone in the country buying things, and you get a much better economy)
Wrong on pretty much everything there. br br - Th... (
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Most of this response is nuts. I don't know where you guys get this stuff. The internet stock boom the drove the Clinton era economy was loaded with companies that soon after went bankrupt. Several others were nothing but gigantic Ponzi schemes. Prior to that it was so important to the Clinton era success crazy ass Al Gore tried to take credit for inventing the internet. I remember watching him say that right on television in real time and being from Tennessee we were were all humiliated by how dumb he looked. That's why we didn't vote for him.
Your last statement is the most ludicrous of all. Rich people don't hire people because they feel sorry for them they hire people so they can make more money. It's a truly symbiotic relationship. Simple as that.
The thing with the sickness over "the rich people" is that it is always stated by the loony left like that is some sort of fixed group. It is not. Lots of people today who have very little will be the rich people of tomorrow and some of the rich today will be gone. And, if you have a tax system that encourages investment guess what happens? The idea that America is the Land of Opportunity is what has made us such a dynamic force in the world. The trouble with that for the loony left is they truly want to see America fail.