Throughout the first decade of this century, the rich got much richer, while the rest of us saw marginal improvement at best in our incomes. Yes, we all know this. But a report yesterday by the US Bureau of Economic Analysis shows that US corporate profits are at an all-time high.
So…isn’t it a tenet of Reaganomics that if you just get out of the corporations’ way and let them make lots and lots of money, then they’ll build lots more factories and we’ll all have jobs and life will get much better for everyone? Deregulation! Cut the capital gains tax! That’s it in a nutshell, pretty much.
But the rosy promises of those who supported Reaganomics didn’t happen, did they? Why is it that US corporations are doing better than they ever have…but those factories are not being built and those jobs are still not being offered to Americans? Could it, might it just possibly be that Reaganomics is wrong?
Oh no, that can’t be the case, because no matter how bad things get for the American people despite record profits by US corporations, we all know that conservative dogma cannot EVER be wrong and must not be questioned! Despite what the data show, the Republicans are always better for the economy than are the Democrats!
So let it be written. So let it never be questioned.Powered by Sidelines