The perversion of Republican economic policy on display HERE

[EVDebs]

“Whatever the total of capital flight from developing countries, it is sufficient to make nonsense of conventional financial statistics, and, therefore of the economic policy prescriptions based on them” - page 332 of Hot Money and The Politics of Debt by R.T. Naylor (Associate Professor of Economics, McGill University.

That quote always stuck with me, since during my college days economic theory, micro and macro, would say certain things were bound to happen and then something else would result…especially since the stagflation days in the ‘70s with Nixon which are now being repeated with Bush. The Prez issues huge tax cuts (the traditional economic prescription) and the economy DOESN’T really boom from the stimulus. Wow, that’s an eye-opener if there ever was one.

And now the Amer. Shareholders Assn.

ASA capital repatriation scorecard $200 billion repatriated back to America on track for $350 billion total
www.americanshareholders.com/ news/asa-repat-08-19-05.pdf

puts out that paper on capital repatriation to the tune of $350 billion on a one-year only “fix” and to my knowledge that is the only bright spot in the recent economic picture ! Plus they call it part of a 'tax cut' when it really is a tax increase...just as Reagan after his 1981 massive tax cuts later had to add taxes in ensuing years they called them ‘revenue enhancements’ ! What a Laffer, oops, I meant to spell that Laugher.