Hate To Say This On Fox

October 19, 2012 § Leave a comment

“I hate to say this on Fox — and I hope I’ll be allowed to leave here alive — but I don’t think there is anyway we can cut spending enough to make a meaningful difference. We’re going to have to raise taxes on very rich people, people with incomes of like say, 2, 3 million a year and up, and then slowly move it down. Two-fifty a year, that’s not a rich person.”

  • Ben Stein, Conservative economist and political analyst, October 18, 2012
  • Source: Fox & Friends (video)
  • Context: Ben Stein, in an appearance on Fox & Friends, advocated for a higher tax rate on the wealthy to the shock of the three hosts. “You do not think Washington just has a spending problem?” asked Doocy, to which Stein replied:

“I do not think they just have a spending problem. I think they also have a too-low taxes problem. And with all due respect to Fox, whom I love like brothers and sisters, the taxes are too low.”

  • The hosts attempted to defend”trickle down economics,” but Stein was quick to point out that there is no connection between the level of taxation and level of economic activity, pointing out that the nations most prosperous years were also ones with very high tax rates:

“The evidence is that there is no clear connection between the level of taxation and the level of economic activity. The biggest growth we’ve ever had in this country was from roughly 1941 to roughly 1973, that was the best years we ever had and those were years of much, much higher taxes than we have now, during war time and during peace time. So, the economy can grow very fast, even with much higher taxes. And we’re going to have to do something.”

  • Doocy was quick to point out that “taxes were at 70, 80 percent then” to which Stein responded by agreeing:

“I know. And yet, we were very prosperous, we were extremely prosperous. I mean, the highest rate was in the 90s during parts of the 50s and, yet, we were very prosperous.”

Turned Around Pretty Well

September 26, 2012 § Leave a comment

“If this election is just about the last four years, that’s a muddy verdict. Bush was president during the financial meltdown. The Obama team has turned that around pretty well. Bill Clinton’s speech at the convention was very important in that way…he’s has go to make it a choice about the next four years and explain what obama would do that would be bad for the country and what he would do to be good.”

  • Bill Kristol, neo-conservative political analyst and Fox News contributer, September 23, 2012
  • Source: Fox News
  • Context: Kristol, on Fox News, criticized the Romney campaign’s strategy of attacking the President’s economic record because the “Obama team” has done a good job at turning around an economy that was in a state of financial meltdown during the last months of the Bush administration.

Hard To Sell

September 2, 2012 § Leave a comment

“It’s kind of hard to sell ‘trickle down,’ so the supply-side formula was the only way to get a tax policy that was really ‘trickle down.’ Supply-side is ‘trickle-down’ theory.”

  • David Stockman, Ronald Reagan’s budget director, December 1981
  • Source: The Education of David Stockman
  • Context: Republicans have been stressing “supply side” economics in order to avoid the negative connotations associated with trickle down economics. As David Stockman points out, “supply side” economics is in fact another term for trickle down economics.

A Reminder

August 20, 2012 § 1 Comment

“These are the values inspiring those brave workers in Poland. The values that have inspired other dissidents under Communist domination who’ve been willing to go into the gulag and suffer the torture of imprisonment because of their dissidence. They remind us that where free unions and collective bargaining are forbidden, freedom is lost. They remind us that freedom is never more than one generation away from extinction. You and I must protect and preserve freedom here or it will not be passed on to our children and it will disappear everywhere in the world. Today the workers in Poland are showing a new generation how high is the price of freedom but also how much it is worth that price.”

The Same Empty Conservative Sermon

August 17, 2012 § Leave a comment

“Paul D. Ryan is the most articulate and intellectually imposing Republican of the moment, but that doesn’t alter the fact that this earnest congressman from Wisconsin is preaching the same empty conservative sermon.”

  • David Stockman, former director of the Office of Management and Budget under Reagan, August 13, 2012
  • Source: Paul Ryan’s Fairy-Tale Budget Plan by Stockman
  • Context: David Stockman, in his piece published in the New York Times, attacks Ryan’s economic and budget proposals, saying that they do absolutely nothing to fix the economy and may even make things worse. He goes on to conclude:

“In short, Mr. Ryan’s plan is devoid of credible math or hard policy choices. And it couldn’t pass even if Republicans were to take the presidency and both houses of Congress. Mr. Romney and Mr. Ryan have no plan to take on Wall Street, the Fed, the military-industrial complex, social insurance or the nation’s fiscal calamity and no plan to revive capitalist prosperity — just empty sermons.”

  • Bruce Bartlett is another former member of the Reagan administration who has come out against the Republican Party’s economic policies.

I’m Not One Of Those People

August 17, 2012 § Leave a comment

“No, I’m not one (of those) people who votes for something then writes to the government to ask them to send us money. I did not request any stimulus money.”

  • Paul Ryan, Mitt Romney’s running mate, October 28, 2010
  • Source: Nightside with Dan Rea (includes audio)
  • Context: Recently, AP revealed that Paul Ryan accepted stimulus money while publicly attacking Presidents Obama’s American Recovery and Reinvestment Act of 2009. Paul Ryan denied these allegations, but the AP released letters signed by Paul Ryan requesting federal money for his district ( PDF). Even after the release of the letters, Paul Ryan continued to deny accepting any funds, saying that he did not “recall” ever doing so. In total, Ryan’s requests directed tens of millions of dollars in stimulus money to his district, helping create jobs. On October 28, 2010 on Dan Rea’s radio program, a caller had asked Paul Ryan if he “accepted any money” from the stimulus package. Ryan responded with the quote above. Given the mounting evidence that he did in fact ask for stimulus money while publicly denying that he did and attacking the President’s measure, the Romney campaign was forced to respond, saying on August 16, 2012 that Ryan’s office had filed the request, not him personally:

“After having these letters called to my attention I checked into them, and they were treated as constituent service requests in the same way matters involving Social Security or Veterans Affairs are handled. This is why I didn’t recall the letters earlier. But they should have been handled differently, and I take responsibility for that. Regardless, it’s clear that the Obama stimulus did nothing to stimulate the economy, and now the President is asking to do it all over again.”

  • Despite Ryan’s claim that the stimulus did not work, most studies show that it did. In fact, many Republicans who publicly decried the stimulus bill secretely accepted stimulus money and took credit for the jobs it created:

That’s Crazy

August 17, 2012 § 1 Comment

“We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loop holes are understandable, but in practice they sometimes made it possible for millionaires to pay nothing while a bus driver was paying 10% of his salary and that’s crazy.”

  • Ronald Reagan
  • Source: video
  • Context: Ronald Reagan also proposed that the wealthy pay their fair share, which is one of the pillars of Obama’s 2012 presidential campaign. As a matter of fact, Reagan raised taxes several times during his administration. In recent years, economists and politicians within Reagan’s administration, such as Bruce Bartlett and David Stockman, who helped create “The Reagan Budget”, have come out against the Republican Party and its economic policies.

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