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View Diary: Tuesday, I cast my first Democratic ballot ever (169 comments)

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  •  A question for both you and John... (19+ / 0-)

    I'm wondering, Gwen, how much your change of heart can be attributed to a realization that THE fundamental claim of Republican Economics had been tried in a Grand Experiment and had failed spectacularly?

    The Bush/Republican tax cuts for the wealthy were not heralded by the media as an ideal opportunity to test Republican claims re: the economy, but they should have been.

    What made it such a great test of Republican economic theory is the fact that the tax cuts were signed into law at a time when exceptionally favorable conditions for economic growth were in already in play (no deficit, very low interest rates, some pent up demand, and increased military spending).

    There was every reason for Republican True Believers to expect that their tax cuts for the 'Job Creators' would stimulate job growth at a rate never seen before.  Instead, what we saw was the weakest period of job growth in any recovery since WW II.

    Instead of all that money creating new jobs, the wealthy threw it asset markets, where they quickly created a new bubble, this time in real estate.  Instead of creating new jobs, all of those extra disposable dollars got wasted on useless asset-price inflation within the Financial Sector of the economy.

    Of course, all of the extra tax-cut dollars eventually ended up in banks, which were encouraged by the huge influx---and lax regulation---to take on ever-riskier loans.

    So was that it, Gwen, John?  Even though this failure was not focused on so much by the media (or even the Democrats!) I'm wondering just how much a vague sense that the Tax Cut Experiment had failed might have had on your eventual disaffection with the GOP?

    Congratulations on your liberation from the Party of Modern-Day Pharisees!

    The EVIL Of Republican Politicians

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