Over the last few weeks, Meet The Press with David Gregory was becoming an avenue for Republican talking points. And the talking points were not only coming from Republican senators, but from the host of the show, David Gregory himself, prompting me to write a blog called, Is David Gregory a Republican Mole. Well Gregory must have read my post, because on Sunday’s Meet The Press, David Gregory regained a couple notches in the credibility belt. These notches may be temporary.

GOP House Leader John Boehner

Gregory's guest, GOP House Leader, John Boehner was the recognizable deer caught in the headlights. When Gregory demanded an answered to a simple question, Bonehead Boehner stuck to his republican talking points. Gregory however, didn’t relent but kept pressing.

The question is one of merit and should be asked by all reporters conducting interviews with GOP senators and pundits/talking heads, who were conspicuously quiet when the tax breaks were implemented a decade ago.

According to CBO, the Bush Tax Cuts for the wealthy added over $1 Trillion to the deficit over the ten year period. So it is obvious that allowing these tax cuts to expire is the prudent thing to do. GOP doesn’t see it that way and they proclaim their opposition to the expiring tax cut for the wealthy every chance they get.

Okay, fine. You can make your argument Boehner, but if you’re going to propose allowing these trillion dollars tax cuts for the wealthy to continue, how should this be paid for?

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For over 30 years, we have been consumed by the theory that giving to the ultra rich in the form of tax-breaks or loopholes, will allow them to give back to us in return. And for over 30 years, while this theory has been in full force, the economy for the most part, has been on a decline, the poor got poorer, the middle class just made enough to scrape by and the rich continued getting richer.

Explaining Reaganomics

The theory is called “Reaganomics,” and is based on what I call economic slavery -  making sure the rich stay rich, while everyone else work double and triple shifts just to survive.

Like the name implies, Reaganomics was introduced in the Reagan administration back in the 1980’s and had four major principles. Among these principles, two stands out;

1. Deregulation: According to William A. Niskanen, one of the authors of Reaganomics, “Reagan eased or eliminated price controls on oil and natural gas, cable TV, long-distance telephone service, interstate bus service, and ocean shipping. Banks were allowed to invest in a somewhat broader set of assets, and the scope of the antitrust laws was reduced.”
2. Tax Cuts for the Wealthy: Mr. Niskanen also wrote about this, saying “The changes to the federal tax code were much more substantial. The top marginal tax rate on individual income was reduced from 70 percent to 28 percent. The corporate income tax rate was reduced from 48 percent to 34 percent.” (continue reading...)