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Unintentional Comedy… never in doubt…

July 8, 2011

Let me sum up Mr. Stiglitz’s piece in Salon in a few sentences..

Because the EVIL RIGHTWING™ refuses to allow government to continue growing at a nice pace by increasing taxes and cutting spending, and instead wants to leave the wealth in the private sector that actually creates jobs and stimulates growth, they’re living in a fantasy world that will only lead to mutual destruction of the the known world.

Or something to that effect. Because unlimited nanny-state government and wealth redistribution at the hands of a few polticians is a bang up formula for economic power houses or something….

As some one wrote over at another blog,

“Stiglitz (like his idjit confrere Paul Krugman) is usually wrong but never in doubt. Come for the snide demagoguery; stay for the unintentional comedy.”

  1. Michael Eaton permalink
    July 11, 2011 9:50 am

    “Stiglitz (like his idjit confrere Paul Krugman) is usually wrong but never in doubt.”

    Wrong? Only in the diseased mind of a John Bircher-style conservative-till-death…No matter what the real world is doing.

    It is literally IMPOSSIBLE to cut our way to prosperity. Growth DOES NOT happen by laying off government workers. Growth does not occur by making the rich wealthier (proven at least 3 times in the last 20 years).

  2. Michael Eaton permalink
    July 11, 2011 10:18 am

    More of what you call “comedy”:

    “What’s at stake is the “carried interest” loophole, and President Obama is pushing to close it. The White House estimates that this would raise $20 billion over a decade. But Congressional Republicans walked out of budget talks rather than discuss raising revenues from measures such as this one.

    “The biggest threat to the United States this summer probably doesn’t come from Iran or Libya but from the home-grown risk that the nation will default on its debts. We don’t know the economic consequences for America or the world, and some of the hand-wringing may be overblown — or maybe not — but it’s reckless of Republicans even to toy with such a threat.”

    “This tax loophole is also intellectually vacuous. The performance fee is a return on the manager’s labor, not his or her capital, so there’s no reason to give it preferential capital gains treatment.”

    The hedge fund manager’s secretary and janitor pays a higher tax rate than he does. Funny, huh??

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