Here's a Supply side economist Arthur Laffer, talking about how bad Medicare and Medicaid will be if they're run by Government. Say what? For starters Medicare and Medicaid are govt run programs. They're started like that and they remain the same.
We see all these fake pundits on TV every day, particularly on CNN, Faux news and MSNBC. No body questions their credibility or what makes them knowledgeable on any topic. No example stands out like Sarah Palin.
And of course the same thing goes with TV news anchors. This woman here in this video didn't even correct him that medicare is indeed a govt run program. I wouldn't be surprised if she's also ignorant of that fact. And faux news, you'll be confused whether you're a watching a news channel or a bimbo parade.
I want to take this opportunity to write about Supply Side Economics. I didn't study economics in college, so I'm no authority on economics to write opinions. But still I'm gonna voice my opinions about it. Supply side economics states that lower taxes for rich and capital gain tax cuts spurs economic growth. That's an over-simplified statement, but again there's not much actual economics in that. Whenever some one says Supply Side Economics, I'll break into laughter. I want to show them Larry Kudlow on CNBC and ask them why he's such an epic fail. Trickle down economics is one of the greatest lies ever told to America. Still there're so many people out there drinking that kool aid.
W implemented few of these supply side economics theories. Tax cuts for rich and lower taxes on capital gain taxes. Federal Deficit increased and (not surprising for a 'Fiscally conservative') Federal spending also increased. Rich became richer and wealth didn't really trickle down. Even now, once in a while I see few conservative boneheads on TV telling how tax cuts and limited government are the silver bullets for every issue.
And you know, Obama is the cause for all the bad things...
Peace
See the actual media matters article here
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