The Argument for Progressivism

Posted on 03/07/2010 at 8:36 am by Bob Cesca

Any argument for progressivism and against Reaganomics and deregulation should begin with a response to this chart:

030310-snapshot1-thumb-454x352.jpg

Huzzah for trickle-down economics. Note that from 1995-2007 there was a Republican Congress.

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  • eve

    wowpicture, thousand words, etc

  • http://politicalpartypooper.wordpress.com/ Political Party Pooper

    I don’t think you should call it Reaganomics. Today’s brand of conservatism and his brand were two very different things. You could blame Republicans for that, because they’re too stupid to realize that they went too far, and now it’s like they’re caught in a crazy cycle of defending bad economics rather than admitting they were wrong.Again, Reagan didn’t want to go below a top tax rate of 50%. Bush 1, Clinton, Bush 2, and Obama seem to have no problem with being way below that. Today, you are accused of being a socialist if you want the wealthy to pay more than 30%.The wealthy are like small children. They have to be encouraged to do the right thing, and taxes is the only way we have of doing that. Economics is the one place that shows what human nature really is.

  • LeeVanSpleef

    Bob, I’m not clear on this. Who are these top 400? Is it actually 400 people or 400 companies? What does this 400 represent? If it’s 400 people, is it really significant out of 300 million people? Who’s making all de money, mon?

  • Hielo

    I say this about every outrage that surfaces in our greedy world. But, well, here it goes again . . .If you ask “how” this or any other financial injustice can happen, you must always come to the same conclusion: Legalized bribery. Those that have the money can add to their coffers by buying congressmen and misleading the voters. There is no other explanation.We always seem to deal with the secondary elements do the process and spend little energy on dealing with the root cause.

  • http://www.bobcesca.com Bob_Cesca

    PPP:>>>>Today’s brand of conservatism and his brand were two very different things.Not in terms of economic policy. It’s been the same. Deregulation, trickle-down, tax cuts for the wealthiest 1%, corporate welfare. Though Reagan was at least willing to bargain on taxes.

  • MichaelLA

    Political Party Pooper at March 7, 2010 10:13 AMBlasphemer. Anything short of saying that Reagan was Satan’s father is a sin before the maker.Also, ignore the ancient Wall Street bastards who themselves said they made much more enormous gains under Clinton with deregulation than Reagan would ever accept.But today idiots hear the rhetoric of 30 years ago and think that it was literal, not what it actually was– red meat for then-fringe dolts.

  • Akiko

    PP Pooper, the Wall street guys made those gains under Clinton and the Republican congress. And there is no “maker” whatever that is.

  • http://www.phydeauxpseaks.blogspot.com Phydeaux Speaks

    LeeVanSpleef,the figure looks at inflation-adjusted pre-tax and after-tax income growth for the 400 top-income families between 1992 and 2007,….from the links.

  • http://politicalpartypooper.wordpress.com/ Political Party Pooper

    Bob,Trickle down worked under Reagan. He is the only President in the last forty years who raised the REAL income of the Middle Class against inflation. All others have tried…and failed…miserably. His deregulation made some sense at the time, as well.But he never, in his life, would conceive that some group of morons would rescind Glass-Steagall, or allow a brand new set of securities like Credit Default Swaps go COMPLETELY unregulated. You can’t pin that on Reagan. He never even considered it.