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Re: “Flat Unfair


Thom Hartmann covered this topic (including David Cay Johnston's article) quite well on his radio program.

Three points:

- (1) David Brooks (Republican Party commentator): 'We Republicans are good for only two things: cutting our taxes and blaming Democrats.' (PBS Newshour - June 2006)

- (2) 'Collier's' Encyclopedia, c1950: Their entry regarding President Calvin Coolidge.

Collier's described that Coolidge implemented policies to 'greatly reduce taxes on the wealthiest' while extending 'massive public subsidies and aid to corporations without any restrictions or obligations'.

Collier's stated that there were short-term economic gains, but that by the time President Herbert Hoover took office and expanded Coolidge's policies of low / no taxes for the wealthiest and free public money to corporations, America's bubble was bursting and 'the Great Depression was beginning'.

(This should teach us how Republicans still practice the same gimmicks using different names (Reagan: 'Tinkle Down Theory'). We are not in a 'Great Recession', we are in another Republican Party-induced 'Great Depression'. 'A rose is still a rose ...': Shakespeare.)

- (3) Groucho Marx fell for the 1920s Florida land boom and went bankrupt. The Marx Brothers' 'The Cocoanuts' (c1929) takes a hard satirical examination of the land scams of their day. No doubt anyone watching that film today will see the same thing in our mortgage derivatives catastrophe.


Posted by SharonAnne on 04/15/2011 at 8:05 PM

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