As
stated in Romney’s Reaganism Part 1, Romney’s
plan, which is very attractive to the richest Americans and corporate America,
will produce very good and very bad results.
Its good results will include tremendous
earnings for the richest Americans and Corporate America: It will allow
them to make boat loads of money – in addition to the boat loads of money
they’re making under the states and federal tax cuts they were given during the
Bush and Obama years, and the boat loads of money they made as a result of the
state and federal tax incentives that followed the mid-term elections. As a
matter of fact, the richest Americans and corporate America have received
substantial tax cuts for the past 31 years. (As mentioned before, Ronald Reagan
promised these tax cuts in 1980; he started them in 1981, after he became the
President of the United States.) From that day to the present, the richest
Americans and corporate America have received more than 15 federal tax cuts and
dozens of state tax cuts. Additionally,
wide-spread deregulation of
environmental, safety, fair wages, and equal opportunity codes, (which once
protected American workers and helped them to received fair salaries),
have allowed corporate America to further increase their boat loads of profits
by permitting them to make drastic cost cuts in these areas. Romney’s plan will
continue this trend, so it will be viewed as a good result for the richest
Americans and corporate America.
Another good
result Romney’s plan will produce is creating
jobs. Under Romney’s Reaganism unemployment will decline. The number of
Americans filing jobless claims will decline, and the state of the American
economy (on the surface) will appear bright and heading in the right direction.
However, most Americans will be unaware of the rapidly declining state of the
American economy: It’s going to get worse for all Americans – with the
exception of the richest Americans, corporate America, and a handful of highly-skilled-and-specialized
workers. Actually, it is simply going to be a continuation of the economic
trend that President Reagan started more than three decades ago, which has
continued every year for the past 31 years.
After reading this article, you might be
wondering the following: How can an
economic plan that makes more money for corporate America and put more people
back to work be bad for the United States?
Read
tomorrow’s blog: Romney’s Reaganism Part 3.
by
James A. Porter
