Monday, August 13, 2018

Audio: In a bid to beat an incumbent governor, Keith Stern tacks to the right

Vermont Public Radio News reports on Keith Stern challenging incumbent Gov. Phil Scott in the Republican primary. Stern says Scott has been a "huge disappointment."



A few words from Keith Stern on Primary Day

digital.vpr.net


8 comments :

  1. Having your cake and eating it too sounds nice. If you look at states like Kansas, tax cuts and spending cuts wreak havoc on the economy, and destroy public services. To quote George H.W. Bush, it's "voodoo economics." It NEVER works, anywhere, any time! It will not work here!

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    Replies
    1. Over the past decade, 19 states that aren't Kansas have cut their individual income taxes. That Kansas is always the one cited shows pretty clearly that most states haven't had disastrous results from cutting taxes.

      If a state is considering a tax cut that amounts to more than 10 percent of the general fund, that kinda sounds like Kansas. But if a state is considering modest reductions in corporate and individual income taxes over a multiyear period paired with base broadening, that's more like the District of Columbia’s 2014 tax reform than Kansas in 2012.

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  2. There is no correlation between tax cuts and economic growth. None. "Base Broadening" is nothing more than raising taxes somewhere else to pay for tax breaks for the wealthy; usually regressive consumption (sales) taxes that hurt the poor and working class. Kansas is not the only state that cut taxes and had major problems, but is is the best example of how tax cuts for the wealthy do NOTHING for the rest of us. For the first time in U.S. history, children born today WILL NOT do better than their parents. Does that sound like economic growth?

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    1. From an 2013 article, National Public Radio:

      Since taking office, Obama has struggled with the aftermath of a global financial crisis and a home foreclosure meltdown. Even after nearly five years in office, he presides over an economy stuck with a 7.3 percent unemployment rate and a disappointing growth rate well below 3 percent.

      In contrast, Kennedy enjoyed a nearly miraculous economic turnaround. At the time of his death in November 1963, an employment boom was beginning. Stocks were soaring, swept up in the emerging "go-go" era on Wall Street — a time when investors were falling in love with mutual funds and conglomerates.

      So, what exactly did Kennedy do?

      That boom came after Kennedy got Congress to try to stimulate the economy by passing a "liberal" agenda that included:

      Increasing the minimum wage.
      Expanding unemployment benefits.
      Boosting Social Security benefits to encourage workers to retire earlier.
      Spending more for highway construction.

      But Kennedy also did something that conservatives have been praising ever since: He pushed for much lower tax rates.

      Kennedy's biggest tax cuts were aimed at average wage earners in hopes they would spend more. Boosting the demand side of the economy "gave us the widest prosperity and longest unbroken run of growth in history" up to then.

      In contrast, conservatives focus on "supply-side" cuts, which target the marginal tax rates for wealthier individuals. The goal is to encourage them to invest more and expand output.

      More:
      https://www.npr.org/2013/11/12/244772593/jfks-lasting-economic-legacy-lower-tax-rates

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    2. I don't see how that refutes what I said, rather, it reinforces it. After Eisenhower's recession, tax cuts for working people, along with wage increases, infrastructure projects, and expansion of government benefits were the cornerstone of our prosperity in the 60's, to be sure. Supply-side economics is THE EXACT POLAR OPPOSITE OF THAT. Thanks for proving my point, though!

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    3. I'll add one more thing to my 8:15 response. Yes, Kennedy proposed lowering the top tax rate, which was 92% at that time. You know who talked him out of it? THE REPUBLICANS, who were worried that tax cuts for the wealthy would wreck the economy! Whatever happened to them? So, JFK lowered taxes for working people, and increased government spending, and kept taxes on the wealthy high to pay for it. AND IT WORKED! Again, thanks for proving my point!

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  3. chuck gregory8/15/18, 7:57 AM

    8:15, I hope you're active in Springfield's civic life.

    ReplyDelete
  4. Apparently dopey C Gregory is confusing the DATE of the post with the TIME of the post. You may need to put on your free Obama-glasses there Chuckster!

    ReplyDelete


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