Wanniski also invented the Two Santa Claus Theory: That Democrats started playing Santa Claus during the Franklin Roosevelt administration, giving out goodies like Social Security and unemployment insurance and later Medicare. Republicans played the role of Scrooge, always trying to âshoot Santaâ in his words. This led to Democratic victories for decades.
He urged Republicans instead to have their own Santa: The Tax Cut Santa. Most of the tax cuts would go to the wealthy Republican donors. A few tax-cut scraps would be thrown to working people â often temporary, with a sunset. Massive PR would hype the minute cuts for workers.
But there was another âbenefitâ for Republicans: By cutting taxes, this raised the deficit and debt, which allowed them to scream that there is no money for âentitlementsâ that the Democratic Santa was giving out. The Republican Santa essentially would shoot the Democratic Santa.
Reaganâs budget advisor David Stockman admitted this was a conscious plan called âstarve the beast.â Republicans have no actual interest in balancing the budget. They just use this story to prevent Democrats from playing Santa with benefits for workers.
The democrats have not been "balancing the budget" in sometime. Both parties are addicted to this drug and it has become specially bad after 2008. The last time we had fiscal discipline was during Bill Clinton's time in the 90s where we almost balanced the books. Now it's just crazy.
That wouldnât be because we subsidize corporations and have to make up for what theyâre not paying workers to eke out mere subsistence and have to constantly clean up Repugnantkkklansâ messes without sending the economy into a deep Depression now would it?
Haha our debt is high because of spending more than comes in. Period. That includes govt overspending, possible loopholes in the tax code that dems and reps wonât fix, etcâŠ
The National Debt was well under $1Trillion before tax cuts for the rich, which donât pay for themselves like social spending does, became the Republican raison dâĂȘtre.
Now just the interest payment is $1Trillion. The National Debt is 100% caused by Trickle Down economics. If everyone got paid a living wage and could afford an effective tax bracket of 25% theyâd have a surplus every year.
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u/NAU80 1d ago edited 8h ago
The âtrickle downâ was part of the Two Santa Strategy. It is also the reason our debt is so high.
https://www.montecitojournal.net/2023/02/28/two-santas/
Thank you for the award!