By Owen Paine on Thursday September 20, 2007 10:21 AM
One of my heroes,
Sir Bobby Reich -- the weeble-friendly K9
of the early Clinton years -- posted a nice one over at his blogsite:
http://robertreich.blogspot.com/2007/09/way-to-prevent-looming-recession.html
With the economy heading for recession... the question everyone is asking is how much [will] the Fed... cut short-term interest rates to stimulate the economy.... But a Fed rate cut won't stimulate the economy....[I]f a Fed rate cut can't prevent a recession, what can? Putting more money into Americans' pockets by cutting their taxes.... middle and lower-income Americans spend more when their taxes are cut... the biggest tax they face is the payroll tax.... the payroll tax needs to be cut ... exempt the first $15,000 of earnings from payroll taxes .... starting as soon as possible.Perfect perfect perfect. Couldn't agree more, dear chap. Bobby even takes a vigorous swipe at the people's favorite love-the-little-guy party (the one with the long ears and the big corporate hospitality tent):
With a recession looming, Democrats need to stop being the party of Herbert Hoover economics.
Comments (4)
I used to read The American Prospect when it first came out, and Reich was the inside-back-cover editorialist. He wrote many convincing pieces on programs and initiatives that were practical, simple and radical at once. He was the last time I believed that the Democrat party had a mind at all.
And he was a Democrat. I heard him speak during the 2004 Presidential primaries, and he was fully engaged in the futile exercise of predicting who was going to be the candidate.
He's kind of a mystery to me -- a thinking Democrat!
Posted by plato's cave | September 22, 2007 1:04 AM
Posted on September 22, 2007 01:04
i love the guy
and my wrathful Hand
is stayed
i smite not
the Dembot nation
with a final biblical smite
just cause
a few like bobby r
march still among em
Posted by op | September 22, 2007 7:40 AM
Posted on September 22, 2007 07:40
I too have a soft spot for the thoughtful Dems. They're liberal atavisms, albeit mostly along mythical lines of descent, and eccentricly appealing because of that. I can understand why they stick with people who mercilessly vampirize them -- the Kerrys, Clintons, et al. They hope for that golden moment when the support of their marginal constituency is so vital to the self-serving majority that they can wring a concession out of them. I think that's currently a seriously mistaken program, and actually harmful overall, as it keeps too many people diverted into being parasitized, but I don't think they're venal.
Posted by Scruggs | September 22, 2007 11:40 PM
Posted on September 22, 2007 23:40
scruggs
"
They hope for that golden moment when the support of their marginal constituency is so vital to the self-serving majority that they can wring a concession out of them. I think that's currently a seriously mistaken program, and actually harmful overall..."
i agree ten thousand percent
and if u suggest we bomb the donk tent
despite the harm's way status
of the munchkin reichwehr ...i can not say
it would be wrong
i just can't do it myself
till the munchkins come marching out
to the tune of
" the road to the next great reformation
will not be on the two party ballot "
Posted by op | September 24, 2007 1:40 PM
Posted on September 24, 2007 13:40