Article: Don’t Forget the Empire Economy
source: http://www.wiserearth.org/article/e3e76794fe4148738a1968ed83622a81/new/1/group/GrandPlan
The president gave an excellent address in Kansas on the economy
Tuesday. He stressed how even average Republicans see the need to tax
the rich to help provide the infrastructure, education, and health
care we need and to support the middle class payroll tax cut. What he
failed to see is that yes Clinton taxed the rich and it lead to a
decade of prosperity, but Clinton also kept the peace and cut the
military. In spite of the 1993 trade treaties, manufacturing expanded
under Clinton as they absorbed the resources normally wasted on the
military.
In contrast, Bush cut taxes on the rich in 2001 and 2003, and started
two wars and a massive military buildup. In the two years after 9-11
nearly 3 million manufacturing jobs were lost, 60% due to the military
buildup and 40% due to trade. This military buildup cost four times
the jobs in low military regions like the Midwest than in the high
military half of America. Then the tax cuts kicked in and lead to a
housing boom concentrated in the booming military half of the nation.
Since crime and corruption are proportional to the military spending
of a state, those high military states had the worst record of
mortgage fraud. Then the Iraq surge began the unraveling of the
economy that ended in banking collapse two years later.
Now the recovery is stalled because Obama is the first Democratic
president since World War Two that did not cut the military percentage
of the economy in his first year in office and social mobility has
dropped dramatically because of sixty years of empire.
Dr. Bob Reuschlein
www.realeconomy.com
Tuesday. He stressed how even average Republicans see the need to tax
the rich to help provide the infrastructure, education, and health
care we need and to support the middle class payroll tax cut. What he
failed to see is that yes Clinton taxed the rich and it lead to a
decade of prosperity, but Clinton also kept the peace and cut the
military. In spite of the 1993 trade treaties, manufacturing expanded
under Clinton as they absorbed the resources normally wasted on the
military.
In contrast, Bush cut taxes on the rich in 2001 and 2003, and started
two wars and a massive military buildup. In the two years after 9-11
nearly 3 million manufacturing jobs were lost, 60% due to the military
buildup and 40% due to trade. This military buildup cost four times
the jobs in low military regions like the Midwest than in the high
military half of America. Then the tax cuts kicked in and lead to a
housing boom concentrated in the booming military half of the nation.
Since crime and corruption are proportional to the military spending
of a state, those high military states had the worst record of
mortgage fraud. Then the Iraq surge began the unraveling of the
economy that ended in banking collapse two years later.
Now the recovery is stalled because Obama is the first Democratic
president since World War Two that did not cut the military percentage
of the economy in his first year in office and social mobility has
dropped dramatically because of sixty years of empire.
Dr. Bob Reuschlein
www.realeconomy.com
-
- groups:
- Community, News and Politics, US Politics, Progressive America, 2 more
