Bigfoot, the Loch Ness Monster, and Conservative Economics
If Mitt Romney were to declare that his plan for Medicare relied on fairy dust, people would laugh. If he said that he was waiting for Superman—literally Superman, the one with the blue red 'S' and the dangling spit curl—to teach America's children, everyone would assume it was a joke. If Romney swore that bug-eyed aliens were central to his foreign policy, it would generate well-deserved snickers.
And if he said any one of these things over and over, if he insisted they were true, if he included them in nearly every speech, proudly repeated them to the press, and made them the centerpiece of his campaign... if he did that, the laughter would turn sour. Surely Romney wouldn't be able to give a speech without being met with derision. He wouldn't make it through an interview without the media tearing into his ridiculous and unworkable plans. He'd be laughed right out of the race.
So when Mitt Romney declares that his economic plan involves reducing taxes on the wealthy as a means of growing the economy... where's the laughter?
The assertion that there is a relationship between a growing economy and tax cuts is an old one. For many conservatives, the relationship seems one of pure common sense: allow the rich person to pocket more earnings, and they'll have more to spend on growing their businesses. Simply allow those at he top to "keep more of their own money," and the rewards trickle down to everyone. That this relationship isn't immediately obvious to the must casual observer among the hoi polloi is a source of irritation.
To better convince those who just don't get it, conservative economists have sought elusive proof of this beast with the dauntless dedication and fervid belief of Bobo seeking Bigfoot. In just the last week, Hoover Institution fellow Thomas Sowell made a fresh stab at the idea.
Read more:
http://www.dailykos.com/story/2012/09/23/1135159/-Bigfoot-the-Loch-Ness-Monster-and-Conservative-Economics
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