Tuesday, December 07, 2010

The Ones That Mother Gives You Don't Do Anything At All

I'm still confused by what appears to be a contradiction between the recent fainting spells over Social Security going bankrupt and the proposed 2% tax "holiday" from having to pay taxes into it. I also admit I'm not the most educated audience on economics, though I try to keep up, but this does have more of the same stink of cognitive dissonance as the idea that tax cuts to the rich will "create jobs", when the empirical evidence of the last 9 years (and especially since the Great Recession) argues quite the opposite result.

Thus, I find this this Moody's chart, thanks to George Washington's guest post at Naked Capitalism, to be both edifying and infuriating:


As the chart shows, the actions that will help lift us out of this mess made by the rich are the very things they have brought out their big guns to murder, while the actions that will actually drag the recovery back into the sump are the actions the rich are making sure, via their lap dogs in Washington, will most definitely be taken.

As time goes by, I find Kevin Baker's comparison of Obama to Hoover becoming more and more on point. God help us.