Wednesday, October 22, 2014

Extra! Extra! Paul Ryan blames Supply Side economics for lost jobs and lower paying.

What follows might have an impact on everything Paul Ryan does from here on in, especially if he runs for president. No one believes more in trickle-down economics than Paul Ryan. Often called supply side or voodoo economics, it's the belief that tax cuts and corporate handouts will have a trickle down effect, spurring on job creation. Did that create demand too? Nope.

In the final 1st District debate with Democratic challenger Rob Zerban, Paul Ryan came right out and admitted trickle down is at fault for low wages, joblessness and millions of people on assistance.

But oddly he blamed Obama for the whole 30 year Republican mess.

In a word salad mix of supply side blame, then praise and then it failure based on Democratic regulation and taxation, Ryan couldn't have been more intentionally confusing. But we know better now, don't we:
Debate Question: "Who is actually experiencing the  benefits of our economy? The sad reality is that millions of Americans have not had a pay increase in years. Many who lost jobs went back to work at substantially lower paying jobs, and many have given up entering the workforce altogether. Meanwhile, while you're in the stock market, until last week anyway, your bank account bulged as a result of corporate profits averaging 20%. What will it take, and what will you do to ensure a continued recovery is better shared by all Americans, instead of just those at the top?" 

Paul Ryan: "Hundred percent, 100% agree with that...why is that? Guess what, we're practicing trickle down economics right now. 
Beautiful, I'm liking it Paul. But here's where Ryan paints a Salvador Dali version of supply side, that impossibly includes liberal regulation and taxation. After 30 years of Reagan's supply side disaster, Ryan has the cojones to blame Obama? Ryan again agrees, trickle down failured:
Paul Ryan: The economics of this administration, more regulation that cost jobs and strangle small businesses, higher tax rates that put small business manufacturers at a disadvantage from out foreign competitors. And our Federal Reserve pumping trillions of dollars into the stock market create the wealth effect, is giving people with lots of money-more money, but that growth is not translating down to the middle class. It's not lifting people out of poverty, when we have among the highest poverty rates in a generation. This is what we're practicing right now.

These are the policies that the president and administration has put in place. More regulations, higher taxes, loose money from the Federal Reserve to pump up the stock market. We should go in the opposite direction. Regulations that make sense, that are predictable...let's have a tax code that's fair and simple and stops picking winners and losers, and lowers tax rates on all of our producers and all of our job creators so that they can be competitive in the global economy...lets streamline our regulations so that businesses can hire people, so people can get more take home pay..."
Transforming greedy CEO's into admirable "job creators" was never a sustainable lie:

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