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"Obama’s economic plan? Back to the ’70s!"

Which means that we have to stuff a flux capacitor into a Firebird rather than a DeLorean — but that we’ll still have to stomach a lot of Yes and Chicago. I guess is the point.

James Pethokoukis:

[…] what Obama is really saying is this: “Let’s go back to the 1970s.” It was a Golden Age of Equality, with the top 1 percent’s share of national income at its lowest level of the 20th century. And the nostalgia surely doesn’t stop there. It was also a time of strong unions, expensive oil, regulated industry and high tax rates. This is exactly the Obamacrat agenda. Of course, the 1970s were also a time of economic chaos and stagflation that led voters in 1980 to reject Jimmy Carter by a crushing landslide. Yet Obama wants give that formula another shot.

[…] Back during the success-punishing 1970s, the top marginal tax rate was 70 percent. And guess what? Liberal economists such as Paul Krugman, Brad Delong and Peter Diamond — whose nomination by Obama to the Federal Reserve thankfully failed in the Senate — think the top tax rate should zoom back there again. More evidence that Clintonomics is dead in today’s Democratic party. Then again, Obama, like many Democrats, never thought the Reagan tax cuts made much sense. As Obama wrote in “The Audacity of Hope: “The high marginal tax rates that existed when Reagan took office may not have curbed incentives to work or invest … but they did lead to a wasteful industry of setting up tax shelters.” So the only downside was excessive tax planning?

[…] Here is the real record of cutting taxes and regulation: The U.S. economy grew at an average pace of 3.3 percent from 1983-2007, inflation — the scourge of the 1970s — was slayed, and the stock market rose by 1,400 percent. Median middle-class incomes rose by roughly 50 percent. (These numbers are even more impressive when you recall that heading in the 1980s, experts were predicting a dystopian, Solyent Greenesque, Age of Limits future for America.) Obama would be lucky to fail like this.

Sure, median middle-class income exploded. But still, others had more — and that’s what the income inequality argument is all about: taking what others have and spreading it out evenly, even if that means we wreck the very process that allowed for that 50% real wealth increase.

The left wants us to envy the wealth of others rather than embrace the fruits of wealth production itself — by way of a proven economic system that raises the standard of living for even those at the bottom of the “income disparity” scale such that our poor mirror much of the world’s “rich” (they have cars, DVD players, computers, flat screen tvs, shelter, food, etc.).

And it’s all so they — rather than a disinterested and organic free market — can direct wealth. The free market system takes away the power of the central planner. Which is why the central planner has to kill the free market system to consolidate power.

That they use class warfare and emotional sophistry to gin up outrage in those their institutions have trained to be useful idiots is not surprising. But surprising or not, the totalitarian impulse must nevertheless be identified, illuminated, and soundly defeated — each and every time it rears its fork-tongued face.

To borrow from that great freedom fighter, Kyle Reese, “Listen, and understand. [Socialist Utopianism] is out there. It can’t be bargained with. It can’t be reasoned with. It doesn’t feel pity, or remorse, or fear. And it absolutely will not stop, ever, until you are dead. [Or at the very least, it’s made you it’s worker bitch].

103 Replies to “"Obama’s economic plan? Back to the ’70s!"”

  1. sdferr says:

    Deontology sucks and blows, categorically, at one and the same time. Question is, how in the hell did it ever get to this point? Was there ever a simply necessary point for it? Or was it just a matter of some mind’s undirected hubristic wandering in God’s green garden?

  2. cranky-d says:

    This is some more of that Hopenchange we were promised, isn’t it?

  3. McGehee says:

    Of course, the 1970s were also a time of economic chaos and stagflation that led voters in 1980 to reject Jimmy Carter by a crushing landslide. Yet Obama wants give that formula another shot.

    Well sure — back then the right people weren’t in charge yet. They truly are the ones they’ve been waiting for.

  4. […] “Obama’s economic plan? Back to the ’70s!” […]

  5. happyfeet says:

    The Environmental Protection Agency said Thursday that chemicals found in Wyoming drinking water were likely associated with hydraulic fracturing used to tap natural gas in the area, raising tensions in the debate over the drilling practice.

    The agency, responding to complaints from people in Pavillion, Wyo., drilled a pair of deep wells in the area and identified the chemicals in groundwater.

    Encana Corp. of Calgary, Alberta, which owns the gas field around Pavillion, said the results were not definitive.

    “This is a probability rather than a definitive conclusion,” said Encana spokesman Doug Hock. “For an agency that prides itself on science, that’s surprising.

    not all that surprising really Doug

  6. newrouter says:

    mr jeff might like this

    Still unsatisfied, Sensenbrenner followed up again. “Tell me what the difference is between lying and misleading Congress in this context?,” he asked Holder.

    Holder responded that whether a statement is a lie or misleading comment depends on what the person making it is thinking at the time.

    “If you want to have this legal conversation, it all has to do with your state of mind, and whether or not you had the requisite intent to come up with something that can be considered perjury or a lie,” Holder said. “The information that was provided in that February 4th letter was gleaned by the people who drafted the letter after they interacted with people who they thought were in the best position to have the information.”

    link

  7. Squid says:

    Deontology sucks and blows, categorically, at one and the same time.

    Wait — are you talking about the study of Runaround Sue?

  8. geoffb says:

    He posts now at the Belmont Club I’ve heard.

  9. geoffb says:

    Not everything in the 70’s was bad. We might just need more marbles.

  10. newrouter says:

    what’s the ’70’s without renewable energy

    Wind turbine bursts into flames as hurricane-force winds hit Scotland

  11. leigh says:

    I don’t want to do the 7o’s over again.

    High school wasn’t all it was cracked up to be.

  12. Pablo says:

    Question is, how in the hell did it ever get to this point?

    It crept, as evil often does. Remember when it was shameful to be on the dole? It wasn’t that long ago. Now it’s a birthright and a multi-generational way of life. And slavery is freedom.

  13. The Monster says:

    Tonight on TVLand:

    That ’70s Administration, followed by Welcome Back, Carter

  14. newrouter says:

    my allah baracky lites up all the hanukkah candles in one night

    http://www.drudgereport.com/

    go barry

  15. happyfeet says:

    the obamawhore associated press missed that detail

  16. leigh says:

    Why would he do this? It’s stupid, even for him. I guess he expects to be golfing in Hawaii on the 20th.

  17. newrouter says:

    here’s the pic

    link

  18. leigh says:

    Cripes. That’s bad. I’m insulted and I’m not even Jewish.

  19. Danger says:

    Is he that stupid or just that mean-spirited?

  20. happyfeet says:

    maybe he wanted to roast some cocktail wienies and didn’t want to have to do em one at a time

  21. B. Moe says:

    Next year he is planning to celebrate the 4th of July on May 1st.

  22. Pablo says:

    Is there no one with a protocol clue in this White House? I know they replaced this silly bint with this silly fundraising bint. Is that all we’ve got?

  23. leigh says:

    Julianna Smoot took a powder a while back, Pablo. Doesn’t the White House have a whole Office of Protocol? With a staff and everything or was that just a Goldie Hawn movie?

  24. newrouter says:

    i think its this guy doing protocol though i have no video

    link

  25. happyfeet says:

    During the week of Kwanzaa, a new candle is lit on the kinara each day.

    so it’s not like he’s never encountered the fucking concept

  26. leigh says:

    Well, he certainly has the credentials, eh?

    The first couple piss me off. They are always putting their grubby paws on dignitaries and doing stupid shit like hugging the Queen! That used to be a hanging offense. Not only did Mitchel hug the Queen, she wore a hideous argyle sweater to meet her. Anyone else not too surprised that they weren’t invited to the Royal Wedding?

  27. newrouter says:

    “During the week of Kwanzaa, a new candle is lit on the kinara each day.”

    a fake celebration by commies stealing jew stuff. hopeandchange!

  28. happyfeet says:

    man I hate commies

  29. leigh says:

    Oh noes! It’s all a fake!

  30. happyfeet says:

    you’re not supposed to torture black women

    it’s in the constitution

  31. leigh says:

    It sure sounds hate crime-y. I bet there’s extra jailtime involved.

  32. happyfeet says:

    it give me the heebie jeebies just thinking on it

    oh well happy kwanzaa everybody!

  33. sdferr says:

    James Taranto takes a look at the extent (and rapidity) of the change of views toward Israel and the Jews in the Democrats today, comparing them to holding Pat Buchanan-like views from the ’90s. Older, mainstay Democrats like Joe Lieberman (a fecking Democrat candidate for Vice-President only a decade ago) for one among many, must feel particularly disoriented.

  34. happyfeet says:

    someone had stats the other day on how many jews the dumb fuck had alienated

  35. leigh says:

    I’ve never seen anything like it. From the Civil Rights era to this in just 50 years? It’s unsettling, to say the least.

  36. happyfeet says:

    he’s lost 1/3 of those jewish peoples what used to approve of his dipshit marxist ass

  37. newrouter says:

    we can get along: ronpaul and baracky

  38. sdferr says:

    Thing about those Democrats like Lieberman, they don’t have any better idea what to do about the socialist takeover of their party than the sitting Republicans do. Which is to say, like, none. All them motherfuckers are philosophically lost, without a clue.

  39. leigh says:

    Well, sdferr, they are all a bunch of nutless wonders, and I’m not just talking about the women. One of those pukes needs to be the voice in the wilderness, standing up and saying “Hold it just a damned minute!”

  40. happyfeet says:

    the Democrats tried to kick Lieberman’s enitrely-too-jewish ass out of Congress and National Soros Radio cheered the whole sick hate campaign on from the sidelines

  41. happyfeet says:

    *entirely*

  42. leigh says:

    The NY Times did a bunch of profiles in courage type articles about Lieberman and his staunchiness about his faith. Pictures of him walking on the Sabbath. Pictures of him in a yarmulke. A profile of his (second) wife, Hadassah. There was a little bit of a “not our kind of people” undertone to it all, though.

  43. newrouter says:

    i “want” baracky’s national socialism. it comes with unicorns.

  44. leigh says:

    Not for the likes of us it doesn’;t, nr. I hate to be the bearer of bad news, a’nat.

  45. leigh says:

    Us, we get errant semicolons.

  46. newrouter says:

    i think i might take the train to beck’s 7/28/12 gig. for the prerevolution vibe.

  47. sdferr says:

    Strangest thing about it is, there simply isn’t all that far to look for an answer. And yet, it’s as if they can’t find their own ass with the two hands God gave them.

    But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.

  48. happyfeet says:

    damn semicolons

    it wasn;t like this when Bush was president

  49. newrouter says:

    oh my andy

    “Many of my opponents jockeyed to be the first to fly up to New York and use Donald Trump for a photo op and no doubt try and secure an endorsement. But when Donald wants to moderate a debate – they refuse to attend. That’s what’s so wrong with politics today – hypocrisy. At this critical time in our nation’s history, just weeks before Iowan’s cast this important vote – many of the other candidates want to hide behind TV ads and mail pieces. We plan to be there front and center in person to debate Newt directly, and if it’s just the two of us, we’re fine with it.

    There’s no doubt that any of us are better than Barack Obama – however, we can’t afford to put up a person who can’t clearly articulate a vision or has a glass jaw or a unprincipled past. Donald Trump knows business and knows global markets – and we all know he’ll be able to bring in a broad audience. And let’s be honest, at least Donald Trump will have more in common with the candidates than with vast majority of past moderators.”

    link

  50. leigh says:

    For real. Bush was like a trusty sheepdog keeping us safe from terrorists and semicolons.

  51. newrouter says:

    i hope rick s. “santorums” the gay peeps

  52. happyfeet says:

    Donald Trump should’ve paced himself more better with respect to how he used his fifteen minutes

  53. happyfeet says:

    rick should just give it up we’ve never ever had a president with an icky last name

  54. leigh says:

    Rick is so desperate for attention. I bet he’d jump rope on stage if The Donald made it a debate requirement.

  55. newrouter says:

    we be santorum the baracky and the gay peeps

  56. newrouter says:

    santorum the commie bastards

  57. newrouter says:

    take the progg’s sh@t and stick it in their idiot faces.

  58. happyfeet says:

    all the kerfuffle about how tacky Donald is has done a lot to gloss over that he’s partnering with… Newsmax

    Newsmax.

    Yes. Newsmax.

    I thought Donald was more a World Net Daily kinda guy.

  59. John Bradley says:

    rick should just give it up we’ve never ever had a president with an icky last name

    Ignoring that bit of retcon-ing, we’ve had two presidents named Bush — which prompted Whoopie Goldberg to talk about her twat, in public.

    Ick.

  60. happyfeet says:

    there was a bush in the bible which makes it definitively not-icky

  61. leigh says:

    Yuck, John.

  62. newrouter says:

    santorum the left

  63. newrouter says:

    speaking of bush

    Kate Bush – Wuthering Heights 1978

    ah the ’70’s

  64. happyfeet says:

    she has a new one I haven’t heard it yet my friend H says she’s gonna try and get me a cd off the street team that’s been working it

  65. Pablo says:

    A 2010 study released by Nielsen reported that Newsmax.com was the number one site for conservatives in the U.S., making it one of the most influential conservative news sites in the nation.

    Ick. Wouldn’t want to get any of that on you. Especially if you’re Dan Savage.

  66. newrouter says:

    kinda funny that kate bush and ronald reagan and steve jobs were on the same plane circa “78-“81

  67. happyfeet says:

    what does that even mean… #1 site?

  68. happyfeet says:

    this [PDF] study uses the more-accepted Comscore numbers and they show that the site with the greatest % conservative audience is Mr. Drudge’s (p. 37)… and as that chart shows, if you’re talking about the site with the greatest conservative reach it’s going to a be a high-traffic site like Yahoo or ESPN

  69. happyfeet says:

    here is a favorite Kate Bush song

  70. newrouter says:

    look at the end of kate bush’s “running up that hill” with the end of from Flashdance What A Feeling http://www.youtube.com/watch?v=ILWSp0m9G2U. a celebration of individual achievement. sad about this “culture”.

  71. Jeff G. says:

    I was one of the first people to say we need to take a look at Santorum. Said it on Twitter, after some debate performance or other.

    I was told to get serious. By a chick who is a Romney supporter.

    It was ironic.

    I still like Bachmann, but Santorum is also quite sincere in his conservatism. He’d Constitution the shit out of some fools. Like a family values Honey Badger.

  72. Jeff G. says:

    Pat Benatar does a nice cover of Bush’s Wuthering Heights.

    It’s on my iPod.

  73. leigh says:

    There’s a load of yucking it up on memeorandum about Rick Perry wearing the exact same jacket Heath Ledger wore in Brokeback Mountain!

    How stupid is that? Like Carharrt isn’t worn all over by ranchers and farmers.

  74. Jeff G. says:

    I have a Carhartt jacket and I’ve never been buggered. Anecdotal, but there you go.

  75. leigh says:

    You and my husband and sons. Come to think of it, my 80 year old dad has one, too.

    I’m not seeing a correlation.

  76. newrouter says:

    “here is a favorite Kate Bush song”

    yea don’t know what she be celebrating. superman is there but effin’ commies galore. the ” big psych”

  77. happyfeet says:

    i like the cloudbusting one too where the fascist government destroys her family

  78. Stephanie says:

    I have a Carhartt jacket and I’ve never been buggered. Anecdotal, but there you go.

    Yea, but you don’t wear mom jeans or throw a baseball like a foreigner, either.

    Oh that’s not Perry? Never mind.

  79. bh says:

    You know a great Carhartt product? These.

    Got them as a present and now I wear the hell out of them during the winter. Practically snow pants and the zippers make winter boots easy to tuck under.

  80. newrouter says:

    i don’t dance with commies, fascist, low rent acorn activists et al. what’s with the guacamole?

  81. leigh says:

    Carhartt wears like iron. You’ll still have them 20 years from now.

  82. sdferr says:

    It’s true, even with the weld-spatter.

  83. serr8d says:

    “During the week of Kwanzaa, a new candle is lit on the kinara each day.”

    Bunch of wussies. Takes a REAL Islamicist to show you how celebrating’s supposed to be done.

  84. newrouter says:

    my allah peeps: baracky wants to do national socialism

  85. geoffb says:

    So now we let one progressive socialist with an obsession, decide whether someone is qualified to run for President? We’re to let one Savage be determinative? Fuck that shit. Next thing Randomnymouses will be picking all candidates from all Parties.

  86. newrouter says:

    Nazism advocated the supremacy of an Aryan master race over all other races.[9] Nazis viewed the progress of humanity as depending on the Aryans and believed that it could maintain its dominance only if it retained its purity and instinct for self-preservation.[10] They claimed that Jews were the greatest threat to the Aryan race.[11] They considered Jews a parasitic race that attached itself to various ideologies and movements to secure its self-preservation, such as capitalism, democracy, the Enlightenment, industrialisation, liberalism, Marxism, parliamentary politics, and trade unionism.[12] To maintain the purity and strength of the Aryan race, the Nazis sought to exterminate or impose exclusionary segregation upon “degenerate” and “asocial” groups that included: Jews, homosexuals, Romani, blacks, the physically and mentally disabled, Jehovah’s Witnesses and political opponents.[13]

    link

  87. newrouter says:

    we need a christmas recipe? hf?

  88. happyfeet says:

    christmas recipe!

    I’m doing my first christmas thing this saturday but they’re all a bunch of fitties so I’m stumped what to do so far… I’m thinking of maybe just getting spicy tuna rolls and then just a big thing of the cocktail shrimp from ralphs… and then for beverages I’ll just have bottled waters in a bucket and some red wine… and then I’ll be ready to go on coffee with skim milk – I’m not even gonna bother with the low cal creamer stuff

    and then just in case after that I’ll have a cheese plate standing by with some of that quince wine

  89. newrouter says:

    kate bush be fatty like chris donuts

  90. happyfeet says:

    kate is rich rich rich but not as rich as romney

  91. Dana says:

    Our esteemed host wrote:

    I have a Carhartt jacket and I’ve never been buggered. Anecdotal, but there you go.

    But can you prove that? I mean, surely even the appearance of impropriety is enough to raise serious questions on this subject.

    Further, it might be noted that all you have denied is being a bottom; how are we to know you aren’t a top? The fact that your denial of such activity was extremely limited should also raise questions. It’s a good thing you aren’t running for President!

  92. Carin says:

    There’s a load of yucking it up on memeorandum about Rick Perry wearing the exact same jacket Heath Ledger wore in Brokeback Mountain!

    Just shows them for the fools they are. Carhartts are practically the daily uniform of a large percentage of men living outside of Detroit here in Michigan.

    But keep it up. I can hear people changing the channel.

  93. Abe Froman says:

    How stupid is that? Like Carharrt isn’t worn all over by ranchers and farmers.

    I suppose it’s easier than noting that Perry has the same jacket that a lot of left wing pussies wear ironically. The contrast between a bunch of twats who couldn’t screw in a lightbulb without electrocuting themselves and a guy who can actually work with his hands would just be too painful for them. So, yeah, go with the movie character.

  94. Carin says:

    Abe, they don’t know any of “those” guys.

  95. Ernst Schreiber says:

    I’m guessing Perry wears Carhartt better the Mitt Romney. Romney seems more of a North Face or Columbia guy.

  96. Ernst Schreiber says:

    From Santorum’s statement:

    [L]et’s be honest, at least Donald Trump will have more in common with the candidates than with vast majority of past moderators.

    I’m guessing just a bit more in common with the audience as well.

    I hope Bachmann debates too. It’d be nice to see a serious debate among conservatives* for once.

    *Well, two conservatives and one haphazard conservative. debauched by too many years in the D.C. whorehouse.

  97. […] Already Killed the Free Market System Posted on December 9, 2011 7:30 am by Bill Quick “Obama’s economic plan? Back to the ’70s!” The left wants us to envy the wealth of others rather than embrace the fruits of wealth production […]

  98. Squid says:

    Abe, they don’t know any of “those” guys.

    Nonsense. Most of them have a brother or father or uncle who has grease under his nails. They just don’t talk about him. (It’s even worse if he goes to church on Sundays.)

Comments are closed.