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Saturday, October 22, 2016

‘Romney Hood’ Is The Return Of Reagan’s Starve The Beast Strategy

‘Romney Hood’ Is The Return Of Reagan’s Starve The Beast Strategy

Romney may be running as the small government candidate, but his only real goal is to cut taxes.

The Tax Policy Center has carefully analyzed how much would come out of the pockets of the middle class and poor to support Mitt Romney’s top-heavy tax cuts for the rich. The numbers are appalling. But it’s likely Romney has no intention to pay for his tax cuts or to make his plan revenue neutral. Call it the Ronald Reagan feint.

Romney is promising tax cuts and believes that’s how he will get the vote. He probably thinks deep down that the tax cuts will generate more growth than anyone serious anticipates, just as Reagan did, but here’s no real evidence to support that, as much as his advisers try to claim otherwise. He says he is “supportive” of Paul Ryan’s budget, which will result in draconian cutbacks. But we shall see how often he talks about these details. He knows people don’t really believe what progressives say about these cuts, as Katrina vanden Heuvel has noted.

Romney is running an impressionistic campaign, not one of details. The impression is that he is for tax cuts and smaller government, which is appealing to many Americans. The details will come later, if they ever do.

Oddly enough, he is not genuinely running on austerity. Rather, he is the new leader of the old starve-the-beast school. Eventually government will be cut if taxes are cut first. That means he will use the austerity argument to chop up Social Security and Medicare to the degree he can when the time comes. And we may get some stimulus under Romney as president, but it will be the worst kind. We got stimulus under Reagan and George W. Bush, but tax cuts did not return America to a fast-growing, job-creating economy under Bush, and deficits were used under the tax-hating Reagan to create obstacles for new social programs and put heat on welfare. The nation never grew fast enough to bring the deficit down as a proportion of GDP in the 1980s and it left George H.W. Bush with a difficult agenda and still historically high unemployment.

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Copyright 2012 The National Memo
  • AliceR51

    Soo true. These ppl I take it ,being journalist know who are the right ones,they do their homework,they are paid to know all those right ones & wrong ones .So just goes to show USA which ones are out to get & simple.

  • TRAILER PARK TEABAGERS : if they can our bred you !…..they can out vote you !

    • onedonewong

      as opposed to lib NYC folks who live in an upright trailer they call an apartment with 300 sq ft with out a bath or a shower??

  • onedonewong

    any thing that reduces the size and influence of govt is a GREAT idea

    • Anarkist

      • onedonewong

        no a Taxpayer

  • We need government it provides us with defence, roads and bridges, and amoung other esencial services regulations. Regulations to protect us from the gread of “Wallstreet” and big industry like insurance, the health care industry, and oil and mining. The President we now have in the Whitehouse understands this need for government so I will be suporting him. The Republicans are moving so far to the right we risk losing these regulations and the protection of our constitutional rights. One of these rights are being thretoned in some of the states the “right of vote”.