During a discourse concerning my last blog, I had the pleasure to discuss the subject of what our President has been requesting from the Republican Party, "Shared Sacrifice." So I was speaking with Mr. Ron Salter and from our discourse came this piece. For those of you who are interested in the truth and are genuinely concerned about this subject, this is a little background on what shared sacrifice would look like if we had "Representatives on both sides of the aisle who had a genuine interest in addressing the needs of a nation." And not just meeting the needs of a minute percentage of the wealthiest Americans who are being selfish.
When Eisenhower was president in the fifties, the highest tax rate was about 95%. That sounds impossible by today's standards, but it was true. He was a Republican too, but they really did make the rich invest in the country, to avoid paying these high rates. He warned us of impending danger from the military industrial complex also.
Over the following two decades after Ike, the rate dropped to about 70%. We didn't really have a large national debt during those days. When the rate started dropping, it was because of the "New" Republican elitist. Reagan thought we should give all the money to the rich and they would ensure the caring of all others. His philosophy resulted in big deficits and consequently, debt. No one really cared about that, because he was the "great communicator". He didn't believe that anyone could be poor in this country that was rich in resources.. When told that the black unemployment rate for blacks, who were the majority population in the nation's capital, was high. He pulled out a news paper and went to the classified section's want ads, and showed the columns of job openings. He then said that the unemployed were just lazy, or something to that affect. He was the father of this new Republican party.
When the government lowered tax rates, it didn't collect enough money to pay its bills. So it had to borrow more and more money from the rich, who now had the money, thanks to tax cuts. Imagine that. The rich can now lend the government it use to pay in taxes. They would now have us believe that China lends us the majority of our debt. In fact, more than ninety percent of it is financed right here, by American investors. Some are the same ones located on Wall Street, who squandered their money, and came back to the government they broke, only to ask to bailed out. We really don't know what happened to all of the money they claimed to have lost, due to the lack of regulations. There are many places around the world to hide money. But if you believe these wall street people could be swindled by a scam, you are just kidding yourself.
At any rate, we had one Democrat president in thirty some odd years. He created about 25 million jobs, achieved full employment, and passed on a budget surplus to an idiot named George Bush. Instead of sticking to a plan that worked. This idiot gave everyone a tax cut. Again creating an even bigger need for credit. The money that was cut in taxes, created the debt, that the rich financed.
This fool signed TARP for the people he handed all of the money too in the first place, because there was a big recession looming, created a large budget deficit for the coming year. He saw a boulder fallling from a tall building and said "oh s***", isn't my term almost over. Let the boulder fall on the next guy.
He passed TARP, a budget deficit, and a looming recession losing a quarter of a million of jobs per month, to Obama, and then vanished into oblivion.
The Tea came along, and are actually defending tax policies that created the problems we have. These are some of the dumbest people on the face of the earth. They don't get the basic idea that if you need money, you go to the well that gives water. In this case its the rich who are maybe 2% of the population and own 90% of the wealth. The rest of us are just barely surviving. The Tea party would actually make a prisoner sympathize with his captures. Obama is right one hundred percent.
These are not real Republicans in the vain of old Abe. They are monsters and scare the hell out of me. Because they can convince people to vote against their own best interest.