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Why can't conservatives admit that supply-side economics has failed?

• 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
• 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
• 66 percent of the income growth between 2001 and 2007 went to the top 1?f all Americans.
• 36 percent of Americans say that they don't contribute anything to retirement savings.
• A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
• 24 percent of American workers say that they have postponed their planned retirement age in the past year.
• Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
• Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
• For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
• In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
• As of 2007, the bottom 80 percent of American households held about 7?f the liquid financial assets.
• The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
• Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
• In the United States, the average federal worker now earns 60?ORE than the average worker in the private sector.
• The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
• In America today, the average time needed to find a job has risen to a record 35.2 weeks.
• More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
• or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
• This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
• Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years.
• Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.
Funny how the conservatives either ignore, refute without research, or claim that the facts I posted don't apply.

Facts REALLY do get in conservative's way...

Asked By: teeewalk - 8/4/2010
Best Answer - Chosen by Asker
I could add a couple of things to your list.

People are working increasingly in dead-end jobs, getting no cross-training, low end of scale pay, not a lot of respect from bosses. They are being used as throw away employees. Dial back 40 years, that was NOT considered OK. It was NOT the general way of corporations. They tried to build their employees into more and more capable people. UPS still does, but most don't.

Executive compensation for people at Big Banks and Hedge finds is no longer even tied to performance. Executives can have horrible performance that results in the loss of Many Billions to their firms, 50 million jobs in USA and $3 Trillion taxpayer dollars and still get multi-milion dollar bonuses, golden parachutes, retirement packages, 401 K contributions, and expense accounts. The rottener the performance the bigger the pay. Lloyd Blankfein gets $70 million per year for his wonderful job running Goldman Sachs.

To put the supply side argument in proper context. That term arose during the discussions of the Laffer curve during the Reagan Administration. But it casts a false light on what's really going on.

Here is the truth.

There is a very large group of farmers and agrarian persons and populists and troglodites and Munchkins who thought that the New Deal was the worst thing that ever happened to USA. They liked Hoover, they like McKinley. They liked Buchanan.

It's really an issue of work ethic equitable justice for them. They don't care if the whole country is poor and living in the Great Depression so long as nobody gets anything they haven't earned by planting and harvesting and the sweat of their brow. This is a very deep, almost religious feeling among these agrarian populists -- the so-called anti-intellectual class, the people that Baum wrote about.

So the New Deal was anathema. Here was the President handing out money by the carloads to poets, and artists, and architects, and musicians, and curators, and all sorts of fancified citified poodle-icious people. And then to make it worse there was all kinds of new regulations at the Coal mine, and in the steel mills, and on the railroads, and there were unions popping up like poppies.

The real impetus in America among the truly stupid in 2010, about 80 years after the New Deal, is resistance to the New Deal.

The trolls reject the New Deal. They want to roll it back. That is the orifice of analism out of which comes Dr. Milton Friedman, and his sidekicks Senator Phil Gramm, who wrote Gramm-Leach-Bliley that killed a major piece of New Deal legislation (the Glass-Steagal Act), which was a lynchpin keeping our economy from going right off the tracks -- so when it was repealed, that's what happened.

It's not a matter of stupid or crazy. These people are religiously imbued with a Vision. A nutty vision, but it shines before their eyes with great clarity -- Roll back the New Deal! It's a mission from the God of the trolls, which is a very very narrow conceptualization of the Work Ethic.

These people want distributional equity in the way they think is fair which means that only people whose work is just like theirs should get any subsidy or support from the state -- not fancy pants sculptors, or dancers, or mosaic people. The Farm bill should be most of the Federal budget. Whatever is not in the Farm Bill should be in the Highway Bill.

It's not about economics -- supply-side or any other kind. It's about distributional equity in the eyes of pignorant, petty, pusilanamous, poverty of the mind, and poverty of the life people.

That accounts for the great mystery of politics in 2010 -- why the lower middle class blue collar voters vote for the Jewish Banker Billionaires of New York City with whom they share exactly nothing in common. They want G.W. Bush, not Hillary. They want Sarah Palin, not Hillary.

Hillary likes Elenor Roosevelt, who was the wife of the Devil Incarnate FDR the man who ruined America according to these blickered trolls and mauvais munchkins.
Answered By: dolphin314etc - 8/4/2010
Additional Answers ()
What and lose another election?
Answered By: ☼Solar☼ - 8/4/2010
All your examples are all how conservatives want us to live.
Answered By: hi - 8/4/2010
Too long! Not worth the read. I'm sure none of this provides evidence to support your premise.

Why can't liberals admit that socialism has failed:
Greece
Spain
Portugal
France
Britain
Answered By: Comrade Hussein Satan - 8/4/2010
I recognize this as a cut and paste from a religious nut's blog. He was trying to make a little different case, but it goes to show that a little knowledge is a dangerous thing.
Answered By: apeman605 - 8/4/2010
If the richest country in the world isnt good enough for you than leave and go to North Korea or one of your other progressive paradises.
Answered By: Meet Reality - 8/4/2010
Your facts are completely WRONG
Answered By: G S - 8/4/2010
That is their agenda -- get as much wealth as they can for their base. They tried to wrap an economic theory around that, and that fell flat. Facts are facts, and we see the destruction to the Working Class caused by Republican economic policies that have only benefited the extremely rich.
Answered By: Law Man says let the FACTS rule - 8/4/2010
Not true.
"61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007." You mean its gotten worse under Obama? I guess libs will hate to hear that.
Answered By: Splitters - 8/4/2010
They dont think, they just repeat what Rush tells them

and Rush will tell them that the liberals sabotaged the economy, and its not the conservatives fault and they will believe it, cause believing that the liberals are out to get them gives them comfort
Answered By: Dave87gn - 8/4/2010
None of the bilge you posted has anything to do with supply side economics

this arises from big government spending -

why can't you admit the Greece model is a failure
Answered By: Nancy's Botox Lips - 8/4/2010
How are your "facts" related to being a failure?
Answered By: John Milton - 8/4/2010
GS says that your facts are wrong, but notice he didn't offer and alternative.
One guy says it too long to read and another that it is a cut and paste from a religious nut site.

You might enjoy, if getting derpessed is enjoyable, the Automatic Earth.org site.

Thanks
Jeff
Answered By: Jeff Lebowski Communist - 8/4/2010
And you have what sources to support your theory? It is all about supply and demand. Why do ignorant liberals continue to expect entitlements versus actually paying for what they want?

You are also ignorant to the fact that a number of that many of the millionares that you are talking about are liberals.

Owning stock in large corporations is not a right, it is a privilege that companies offer to give employees and investors a chance to share in the company profits.

You liberals complain about pricing of goods from large corporations and them creating jobs in other countries, while you continue to demand cheaper prices at walmart
Answered By: Joe - 8/4/2010
All I see is that factoids bother liberals.

But I don't see any evidence that supply-side has failed.

*Reality* is supply-side. You can't get a job from a poor person. You can't consume, buy or sell something that doesn't exist yet. Only supply-side acknowledges these realities.
Answered By: WhoIsJohnGaltCom - 8/4/2010
I have never been hired by a poor person!
Answered By: BryanW652 - 8/4/2010
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They've admitted the data is not true, yet they continue to post it. Why are they continuing to claim they've saved or created jobs in districts that don't even exist after it's been proven and they've admitted it's a lie? http://abcnews.go.com/Politics/jobs-saved-created-congressional-districts-exist/story?id=9097853 Dastardly, presenting information known to be false as true is lying, does this really need to be explained to you?
8 answers - Asked By: libs, almost as smart as lint - 11/24/2009
Http://abcnews.go.com/Politics/jobs-saved-created-congressional-districts-exist/story?id=9097853 I understand the desire to show that your policies are working-but outright lying isn't the way. Is this the "transparency" and "change we can believe in?" Cookie--Nice-I forgot about that.
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In reality we think of it that way- but in politics I know it's a radical concept- What if the only way to get the economy to serve the people is to have them start pending?? Do you like recession better ----because you don't like people getting something?
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