The Fraud of Bushenomics: They're Looting the Country

How can all this be done?

Raising taxes.

On the wealthy. And on corporations. That's not class warfare. That's simple practicality.

After your first $20,000, how much of the next 20 do you need, to live, thrive and survive? Damn near all of it. After your first 20 million, now much of the next 20 million do you need? Not a nickel.

The rich will whine, writhe and scream that they won't do business, they'll be driven out of business, that business will collapse. Bullshit. If they dislike keeping 20 or 30 or 40 cents of each dollar of profit so much that they won't take the dollar, someone will come along who gladly will. That's how markets work.

All of this is pretty straightforward and common sense.

The illogic of Bushenomics is obvious. The results were foreseeable. After all, similar effects took place under Reagan and Bush the Elder, until they reversed courses.

The alternatives are equally obvious. The facts bear out the theory. Go back to Hoover and Roosevelt, then look at the down, up, down, of Bush the Elder, Bill Clinton, and Bush the Lesser. (We do note that there are minor industries dedicated to proving that Franklin Roosevelt was, in the words of CNN's Glenn Beck, "an evil son of a b____," that the New Deal really, really, really didn't work, and that Bush the Elder was really, really, really responsible for the boom of the Clinton years and that Clinton was responsible for the first recession during the reign of Bush the Lesser. But they are like people who see the image of the Virgin Mary in bread sticks and crullers.)

None of our politicians, pundits or economists are addressing the fundamentals.

The last time we switched from the nonsense of worshiping unmitigated greed, disguised as free marketeering, it took a market crash and the Great Depression to move us out of our public relations-manufactured delusions and make us understand that when we all do well the rich get richer too, so let's start with the common good.

Based on the dialogue as it stands now, we will go with tinkering and twaddle, doing more of what doesn't work. And only if the whole things collapses will we address the real problems.

Larry Beinhart is the author of "Wag the Dog," "The Librarian," and "Fog Facts: Searching for Truth in the Land of Spin." All available at nationbooks.org.

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