Conservatives these days have warped up the reality distortion field and increased the shields on their bubbles. And, just to mix my metaphors, have begun shouting at the masses to clap harder because their Tinker-Bell ideas lay dying on the floor.
First up, the Bush Tax Cuts. Way back when there was a Republican majority in both houses of Congress, they held the Presidency, and they were stocking the courts with activist ideologs emerging from their decades long program of raising them in a bubble. And they decided to try their ideas of Lower Taxes and Less Regulation. So they passed the Bush tax cuts.
Now, if you remember these cuts were sold on the premise that lower taxes helps create jobs, brings wealth to everybody, and would increase tax revenues from all the prosperity. If you don't remember that, hey, just turn on the TV and listen to the conservatives these days. Why? They're touting the same old line and saying exactly the same thing. You may also remember that the actual CBO projections were so bad that, even with a majority and having the Presidency, they couldn't stomach the financial disaster of making those tax cuts permanent. You may have heard about "making them permanent." Yeah, it's another line the conservatives, especially the Tea Party supported conservatives, like to spout off.
But here's the thing. We've now had a decades long live experiment with that ideology. So, how did it work out?
Zero job growth for the decade (Washington Post and as a side note, look at that chart, actual job growth was greater when tax rates were substantially higher. In fact, they start to slow after the Reagan tax cuts, which strangely enough were sold with the same tired line). Also, real wages declined and wealth concentrated at the top end of the scale (Business Insider article I linked to before which pulled together several charts from other sources, and Alan Greenspan). As to tax revenue, do I need to find links about how we went from a surplus to record deficits (and ran that way since the first tax cuts)?
So, that ideology is demonstrably wrong. Reality. It's a bitcher. It also has an obvious liberal bias. Don't believe me? Hey, the tax cuts are here. Right now. We're living with them. See all the new jobs created by them? Neither do I.
The ideology is bankrupt, and it's nearly bankrupting our country. And we now have a wave of people who think that the real problem is that we didn't try hard enough. That's magical thinking. It's also the definition of insanity. And it's the reason why the advertising logic of "buy more, save more" still works. So if you ever wonder why I get so stabby at times, here's your answer. The whackaloon quotient keeps going up.