Wednesday, February 9, 2011

Arthur B. Laffer: Reaganomics: What We Learned -

Arthur B. Laffer: Reaganomics: What We Learned -

Wrong, we learned nothing judging from where we find ourselves today.

Reagan era deregulation led to the Savings and Loan debacle, the destruction of the airline industry, and sow the seeds of the Wall Street and banking malfeasance that nearly led to the economic collapse we barely avoided in 2008. The inexorable decline of the middle class and the exporting of entire industries also sprang forth from the policies of Reaganomics.

If Laffer is to be taken seriously, and he can't, what is his explanation for the mess we find ourselves in today? The Reagan tax policies have endured to this day. This country is as far from where we need to be as ever before. The richest of the rich continue to thrive at the expense of the dwindling middle class.

What was a lie in 1981, is still a lie in 2011.

No comments:

Post a Comment