Bidenism is replacing Reaganism

[Cypress]

Here's how Biden’s coronavirus relief bill represents a major departure from Reaganomics

Washington Post's E.J.Dionne and Waldman both view the America Rescue bill as a departure from Reaganomics, and Waldman believes that it underscores Biden's immunity to Republican Culture War distractions.

Dionne notes that the "25% across-the-board tax cut" that President Ronald Reagan signed into law in 1981 "inaugurated a new ideological era" of Reaganomics and conservative economic policy. Reagan famously said, "In this present crisis, government is not the solution to our problem. Government is the problem." But with the American Rescue Plan Act of 2021, Dionne argues, Congress has moved away from Reaganomics after 40 years. According to Dionne, "Bidenism is replacing Reaganism."

"Passage of the Biden plan reflects the triumph of precisely the opposite view: that only active and competent government can get us out of the mess we're in now," Dionne writes. "The willingness of Democrats to speed through a program of this size reflects the final shrugging off of Reagan-era constraints that made even liberal politicians gun-shy about government activism."

Dionne continues, "The shift away from top-down supply-side economics could not be more dramatic. The Reagan theory, reduced to its essence, was: Help the rich, and their investments will produce jobs and prosperity for everyone else. The Biden theory is bottom-up: Help middle-class and low-income Americans, and their purchasing power will drive an unprecedented era of growth."

Full article https://www.alternet.org/2021/03/reaganomics/

[ThatOwlWoman]

Here's how Biden’s coronavirus relief bill represents a major departure from Reaganomics

Washington Post's E.J.Dionne and Waldman both view the America Rescue bill as a departure from Reaganomics, and Waldman believes that it underscores Biden's immunity to Republican Culture War distractions.

Dionne notes that the "25% across-the-board tax cut" that President Ronald Reagan signed into law in 1981 "inaugurated a new ideological era" of Reaganomics and conservative economic policy. Reagan famously said, "In this present crisis, government is not the solution to our problem. Government is the problem." But with the American Rescue Plan Act of 2021, Dionne argues, Congress has moved away from Reaganomics after 40 years. According to Dionne, "Bidenism is replacing Reaganism."

"Passage of the Biden plan reflects the triumph of precisely the opposite view: that only active and competent government can get us out of the mess we're in now," Dionne writes. "The willingness of Democrats to speed through a program of this size reflects the final shrugging off of Reagan-era constraints that made even liberal politicians gun-shy about government activism."

Dionne continues, "The shift away from top-down supply-side economics could not be more dramatic. The Reagan theory, reduced to its essence, was: Help the rich, and their investments will produce jobs and prosperity for everyone else. The Biden theory is bottom-up: Help middle-class and low-income Americans, and their purchasing power will drive an unprecedented era of growth."

Full article https://www.alternet.org/2021/03/reaganomics/

And that is precisely what most economists agree is the best move during a recession. It's unfortunate that #TRE45ON gave away billions in tax cuts to the wealthiest people and corporations; during the first few years of his IMPOTUSx2 period was the best time for us to be paying down the debt. Instead, he added greatly to it, although to be fair it was necessary. If he hadn't totally bungled the pandemic response, larger stimuli probably would not have been required.

[Cypress]

And that is precisely what most economists agree is the best move during a recession. It's unfortunate that #TRE45ON gave away billions in tax cuts to the wealthiest people and corporations; during the first few years of his IMPOTUSx2 period was the best time for us to be paying down the debt. Instead, he added greatly to it, although to be fair it was necessary. If he hadn't totally bungled the pandemic response, larger stimuli probably would not have been required.

Great points.

Dumbya also had a fetish for devoting his time to tax cuts overwhelmingly benefiting the rich and the investor class.

The Joe Biden America Rescue Plan is the first massive, full blown Keynesian-esque legislative initiative I can recall in my adult life.

[War=Peace]

Biden: Deranged rapist, conservative corporate stooge, dangerous psychopath, opposer of M4A, racist, lover of death & war, enemy of The People

[Trumpet]

Biden: Deranged rapist, conservative corporate stooge, dangerous psychopath, opposer of M4A, racist, lover of death & war, enemy of The People

That sure sounds like Trump that you're describing.

[Trumpet]

And that is precisely what most economists agree is the best move during a recession. It's unfortunate that #TRE45ON gave away billions in tax cuts to the wealthiest people and corporations; during the first few years of his IMPOTUSx2 period was the best time for us to be paying down the debt. Instead, he added greatly to it, although to be fair it was necessary. If he hadn't totally bungled the pandemic response, larger stimuli probably would not have been required.

The GOP is funded, owned, and operated by the 1%, for the benefit of the 1% and always has.

[anatta]

OP is conflated nonsense. Stimulus is not economic growth, the OP is little more then a cheering section for Biden,
OP's the American Rescue Act isn't even all that much about growth. It's a Blue state wish list

[Cypress]

Biden: Deranged rapist, conservative corporate stooge, dangerous psychopath, opposer of M4A, racist, lover of death & war, enemy of The People.

^ Apparently, Biden's decisive win over the failed Trumpf is causing a lot of emotional breakdowns in MAGA land.

I suggest cultivating temperance and perspective.

[Cypress]

OP is conflated nonsense. Stimulus is not economic growth, the OP is little more then a cheering section for Biden,
OP's the American Rescue Act isn't even all that much about growth. It's a Blue state wish list

Stimulus is being used by advanced nations all over the planet to offset economic damage due to the pandemic.

You are free to cite an example of an advanced nation pivoting to austerity measures and massive government scale-backs during this pandemic.

Activist government is precisely what this nation needs right now. Three months ago we had president who spent his days watching TV and fuming about his election loss. He would not even lift a finger to help get the $2000 stand alone COVID relief bill passed.

[anatta]

Stimulus is being used by advanced nations all over the planet to offset economic damage due to the pandemic.

You are free to cite an example of an advanced nation pivoting to austerity measures and massive government scale-backs during this pandemic.

Activist government is precisely what this nation needs right now. Three months ago we had president who spent his days watching TV and fuming about his election loss. He would not even lift a finger to help get the $2000 stand alone COVID relief bill passed.

stimulus is not about growth as were the tax cuts. It's a make whole provision
I'm n ot arguing it'sn ot needed ( although the last one by Dems was almost pure pork) -
I'm arguing against the OP that the stimulus replaces tax cuts for growth,

You ight not like Trumps tax cuts -but they did grow GDP, and bring money back (repatriation) by corps into the US economy.
They blew up the deficit because of spending -not lack of revenues. The were revenue neutral
but help grow wages for lower percentiles we didnt get under Obama.

All these stimulus are REALLY blowing up the debt! -whether you think they are needed or not

[Nordberg]

OP is conflated nonsense. Stimulus is not economic growth, the OP is little more then a cheering section for Biden,
OP's the American Rescue Act isn't even all that much about growth. It's a Blue state wish list

It is a stimulus. That is a fact. You can have your own stupid personal beliefs, but that does not change the facts.

[Jack]

Here's how Biden’s coronavirus relief bill represents a major departure from Reaganomics

Washington Post's E.J.Dionne and Waldman both view the America Rescue bill as a departure from Reaganomics, and Waldman believes that it underscores Biden's immunity to Republican Culture War distractions.

Dionne notes that the "25% across-the-board tax cut" that President Ronald Reagan signed into law in 1981 "inaugurated a new ideological era" of Reaganomics and conservative economic policy. Reagan famously said, "In this present crisis, government is not the solution to our problem. Government is the problem." But with the American Rescue Plan Act of 2021, Dionne argues, Congress has moved away from Reaganomics after 40 years. According to Dionne, "Bidenism is replacing Reaganism."

"Passage of the Biden plan reflects the triumph of precisely the opposite view: that only active and competent government can get us out of the mess we're in now," Dionne writes. "The willingness of Democrats to speed through a program of this size reflects the final shrugging off of Reagan-era constraints that made even liberal politicians gun-shy about government activism."

Dionne continues, "The shift away from top-down supply-side economics could not be more dramatic. The Reagan theory, reduced to its essence, was: Help the rich, and their investments will produce jobs and prosperity for everyone else. The Biden theory is bottom-up: Help middle-class and low-income Americans, and their purchasing power will drive an unprecedented era of growth."

Full article https://www.alternet.org/2021/03/reaganomics/

Maybe a Government/Corporate America will be able to compete with a Government/Corporate China?

[BidenPresident]

Here's how Biden’s coronavirus relief bill represents a major departure from Reaganomics

Washington Post's E.J.Dionne and Waldman both view the America Rescue bill as a departure from Reaganomics, and Waldman believes that it underscores Biden's immunity to Republican Culture War distractions.

Dionne notes that the "25% across-the-board tax cut" that President Ronald Reagan signed into law in 1981 "inaugurated a new ideological era" of Reaganomics and conservative economic policy. Reagan famously said, "In this present crisis, government is not the solution to our problem. Government is the problem." But with the American Rescue Plan Act of 2021, Dionne argues, Congress has moved away from Reaganomics after 40 years. According to Dionne, "Bidenism is replacing Reaganism."

"Passage of the Biden plan reflects the triumph of precisely the opposite view: that only active and competent government can get us out of the mess we're in now," Dionne writes. "The willingness of Democrats to speed through a program of this size reflects the final shrugging off of Reagan-era constraints that made even liberal politicians gun-shy about government activism."

Dionne continues, "The shift away from top-down supply-side economics could not be more dramatic. The Reagan theory, reduced to its essence, was: Help the rich, and their investments will produce jobs and prosperity for everyone else. The Biden theory is bottom-up: Help middle-class and low-income Americans, and their purchasing power will drive an unprecedented era of growth."

Full article https://www.alternet.org/2021/03/reaganomics/

Good point, agree. Many refuse to admit that Trump modeled himself on Reagan.

[Cypress]

Good point, agree. Many refuse to admit that Trump modeled himself on Reagan.

Trump's only substantial legislative achievement was a version of trickle down economics tax cuts which overwhelmingly benefited the wealthy and investor class.

His cabinet was almost exclusively rich white guys and the Wall Street establishment.

[Nordberg]

Reagan really damaged the American philosophy. His claims about the government being the problem, not part of the solution wound up with more and more power being taken from the people. Who needs regulations? I suppose the people who breathe air and drink water do. Reagan created much of the animosity between most citizens and the wealthy. It remains 50 years later. He also brought the false idea that we are better off trusting corporations than the government. That has created much damage and unneeded tension.