|Ξ Poem||Soaking Notes|
Reagan: Ronald Reagan, a prominent neoconservative, was U.S. President from 1981 through 1988. Reagan's economic policy, known as Reaganomics, featured reducing taxes for the rich while increasing taxes for the poor, increasing destructive military-industry spending while cutting back on productive domestic spending, tightening supply-side economic control while ignoring control of the demand side, and radically reducing government regulation and oversight of wealthy corporations. With these policies, Reagan swelled the budget deficit and the trade deficit, tripling the national debt from $909 billion to $2.601 trillion and turning the U.S. from the richest creditor to the biggest debtor nation, brought on the 1987 stock market crash and the bankruptcy of 747 savings and loan institutions (which he bailed out with taxpayer money), and greatly enriched the wealthiest Americans at the expense of the lower classes.
Bush: 1. George H.W. Bush, a prominent neonconservative, was U.S. Vice President under Ronald Reagan and U.S. President from 1989 through 1992. Although he initially derided Reaganomics as ‘voodoo economics’ Bush never criticized Reagan while his running mate or Vice President, and he headed Reagan's deregulation task force. During his own Presidential reign, Bush continued to build up the military. A Democratic Congress reigned in Bush's attempts to further decrease domestic spending, thus preventing immediate worsening of income disparity. But Bush nearly doubled the national debt again, to $4.001 trillion. 2. George W. Bush, a prominent neoconservative, was appointed U.S. President from 2001 through 2008. Bush took Reaganomics to its logical conclusion, further reducing taxes for the extremely wealthy while increasing taxes for everyone else, enormously increasing destructive military-industry spending while drastically cutting back on productive domestic spending, and radically deregulating wealthy corporations and halting enforcement of remaining regulations. With these policies, Bush swelled the budget deficit and the trade deficit, doubling the national debt from $5.628 trillion to $11 trillion and counting, bringing on the 1980 stock market crash, the bankruptcy of 130 banks and other financial institutions (preliminary estimate), precipitating the Greater Depression of 1980, and increasing income disparity to ratios rivalling (other) third-world dictatorships.
McCain: John McCain, a prominent neoconservative, was the 2008 U.S. Republican Presidential nominee. A self-proclaimed Reaganite from his earliest days in politics, McCain has pledged to further decrease taxes for the ultrawealthy without relief for the middle and lower classes, further increase destructive military spending while further decreasing constructive domestic spending, and further deregulate wealthy corporations.
tinkle: 1. trickle. 2. piddle.
Reaganomics was often referred to as ‘trickle-down economics’, under the theory that wealth accumulated by the superwealthy would trickle down to the poor, ulimately enriching all — a theory contradicted by countless plutocracies throughout history and thoroughly discredited by the historical tables published by the White House's own Office of Management and Budget under Presidents Reagan and Bush.
soak: 1. drench (here with tinklage). 2. impose excessive taxes on.
Neoconservatives characterize their reverse-Robinhood economic ideology, of robbing the poor to pay the rich, with slogans such as “starve the beast” and “race to the bottom”, where the ‘beast’ to be starved is the public good, which they short-sightedly believe to detract from the good of the wealthy elite; and where the thing to be raced to the bottom is the ‘earned income’ of honest laborers, which they short-sightedly believe to detract from the ‘unearned income’ of the ruling plutocrats.
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