Is This Election the End of Reaganomics? I Hope So.

Reaganomics, you know, the richest five percent of the population will spend us out all our economic troubles? Unfortunately, their spending habits do not necessarily help the U.S. economy very well. Their spending seems to help Italy, Germany, France, and England though. You know, Ferrari, Mercedes, Porche, Dom Perigon, and Rolls Royce? None of these companies are American, so the money from the super-wealthy's wild spending sprees does not stay within the U.S. Plus, they "invested" their money (more like squirreled away) in ocean front properties in Florida, the Gulf Coast and California. I don't see how investing in Florida real estate helps farmers in Iowa. Yet, many people hold on to the notion that the more money the uber-rich make, the better off middle America is. These self deluded ones deserve our pity. The river Denial runs very deep for them. Had the super-wealthy did what the original boosters of Reaganomics expected, this philosophy might have worked, but they didn't. The uber-rich did not invest their money by creating start up companies, investing in new technologies and any other investing that would have created wealth for, say, farmers in Iowa, or owners of small to medium sized manufacturing companies, or...oh, you know what I mean. When I read and listened to what the backers of Reaganomics were saying about this "new" economic philosophy, this is the picture I was getting from them. But, when the fox is let loose in the chicken house, your bound to have fewer chickens, not more. Old fashioned human greed took over and perverted Reaganomics until it became a philosophy of corporate greed, not corporate philanthropy as first envisioned. But, wasn't this what the Democratic Party was saying all along; that, when just a few people are given huge sums of money, they wouldn't necessarily reciprocate in investing in enterprises that would bolster the middle class? Looks like the Democrats were right all along despite all the venomous charges the Republicans have cast their way. Now that all the Reganites have been proved wrong, let us move on to a different economic philosophy that will "float all boats", not just the multi-million dollar yachts.