If Conservative Economics Actually Worked, Romney Would Have Won

On Nov. 6, Romney carried the majority of every economic group except those with less than $50,000 a year in household income.

via Mitt Romney: A good man. The right fight. – The Washington Post.

This is from the….insanely partisan…guy who ran the campaign that lost the Presidential election.  This is whining to a huge degree…but I wanted to focus on this one sentence.

You see….we’ve had 30 years of “trickle-down”/”supply side”/”Laffer Curve” economics from the Republicans.  From Reagan to Bush the Lesser they kept cutting taxes on the wealthy, and saying that the wealth would trickle down and the rising tide would raise all boats.

This simply hasn’t happened.  For the majority of the country, wages have been stagnant.  For folks like Romney, they’ve gone up huge.

This trend continued during the Great Recession.

In 2010 median net worth in the U.S. hit its lowest point since 1969 at $57,000, according to a recent study by NYU Professor Edward Wolff, who studied Americans’ net worth from 1983 – 2010.

During the same period, income inequality skyrocketed in the U.S., Wolff found, largely thanks to the housing bust, which took a significant bite out of middle-class Americans’ assets. Wolff found that while middle income earners lost 18 percent of their net worth, those in the top 1 percent increased their wealth by 71 percentover the same time period, according to Wolff’s report.

[full story]

So my point here is that if Republican economic theory actually worked, and the wealth actually tricked down, and the rising tide actually lifted all boats…we wouldn’t have such a large portion of the country making so little money.

If Republicans economics worked, they’d be in the White House right now.  It doesn’t, and they aren’t.

Note: Reading Stevens “reasoning” (put in quote for a reason…go read it), I am not at all surprised Romney lost so badly.  His notion of who is voting Democratic (and why) is wildly off the mark.

When Mitt Romney stood on stage with President Obama, it wasn’t about television ads or whiz-bang turnout technologies, it was about fundamental Republican ideas vs. fundamental Democratic ideas. It was about lower taxes or higher taxes, less government or more government, more freedom or less freedom. And Republican ideals — Mitt Romney — carried the day.

See….he’s claiming that Romney won…even though he lost.  He’s claiming Republican ideas won…even though they lost.  He’s going to keep claiming they work…even though they don’t.

There’s little help for folks like this.  But we should certainly take a moment and laugh at them, especially when they claim stuff like this.

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