I will add to this page over time. The devil has it in his plans of destruction.”. Why are we still pretending 'trickle-down' economics work? The voodoo: how can a nation already in debt to the tune of $23 trillion (a level President Trump, during his campaign, said would signal a financial armageddon) afford to go another four trillion in hock? And when Bush ultimately lost his reelection bid, the broken pledge was blamed — perhaps unfairly, given that other factors (such as Ross Perot’s independent bid and the sluggish economy) also weighed against him. Found inside – Page 2040 For this approach, George Bush coined the term "voodoo economics" (see Lou Cannon, President Reagan, Public Affairs, 2000, p. 223). A more well-disposed press toward the later elected president labeled it "Reaganomics" (see Lehmbruch ... Design by Isaiah J. PooleBuilt on CustomPress Theme by TwoPoints. Its almost exclusively used as a derisive term by critics. “Read my lips: No new taxes,” he pledged. Bush was a Republican in the Eisenhower mold, as tax historian Joseph Thorndike puts it — a conservative who didn’t especially like tax hikes, but who prioritized broader fiscal responsibility over a narrow tax-cutting agenda. Once the pandemic clears (when, God willing, it does), will we simply go back to “boom” times with nothing changed? More recently, opponents of President Ronald Reagan used the term to attack his income tax cuts. (And for you serious trivia buffs: Who, and under what circumstances, first coined the term, "Voodoo Economics"?) This site uses Akismet to reduce spam. He was pragmatic, and pragmatism required dealing with rising deficits through both sides of the budget ledger. I hold assholes like you personally responsible. Josh Clark: Yeah it was George Bush Sr. Charles Bryant: Yeah. In the 1992 presidential election , independent candidate Ross Perot also referred to trickle-down economics as "political voodoo". To put across the idea captured in point 4 of the definition given in the old ENCARTA dictionary (color added): Voodoo n Political pressure favored stimulus resulting in an expansion of the money supply. Found insideA Word About Voodoo Economics One thing that we have to all realize is that the American version of Capitalism has been based on the Art of “Voodoo Economics” a term coined by George H.W. Bush used to debunk the economic theories of ... Instead of reckoning with the truth, instead of looking at what is occurring and self-reflecting, instead of wondering if something is fundamentally wrong with us as a nation, instead of fixing a society that wastes a quarter of its food (while bankrupting farmers), instead of donning ashes and sackcloth, of fasting, instead of greatly retrenching and going to God, we prop up a false economy with more falsity in an era where fabrication reigns supreme. Found inside – Page 257was the failure of this particular aspect of supply-side economics that left the notion with relatively few supporters ... were even more painful because the critics used the phrase “voodoo economics,” a term originally coined by George ... The terms “voodoo economics”, “voodoo mathematics”, “voodoo statistics”, “voodoo ecology” and so on, seem to have been coined with the same object in mind. It’s trickle-down economics, plain and simple, with no assurance that the “trickle” is anything more than the musings of a psychic reader. 1137 Projects 1137 incoming 1137 knowledgeable 1137 meanings 1137 σ 1136 demonstrations 1136 escaped 1136 notification 1136 FAIR 1136 Hmm 1136 CrossRef 1135 arrange 1135 LP 1135 forty 1135 suburban 1135 GW 1135 herein 1135 intriguing 1134 Move 1134 Reynolds 1134 positioned 1134 didnt 1134 int 1133 Chamber 1133 termination 1133 overlapping 1132 newborn 1132 Publishers 1132 jazz … George Bush Sr. was the person who coined the term 'Voodoo Economics' during the 1980 republican debates. Three of the factors that most directly affect the potential for sustainability - population, technology, and lifestyle - are discussed and analyzed in-depth. Literally weeks after he signed the bill, his administration began scheming to roll back those cuts — because they were concerned about rising deficits. $800. “By The Times’s calculation, taxpayers earning over $10 million would experience a 6.8 percent rise in their after-tax incomes on average under the Bush plan,” Barro wrote. Found inside“And it's very interesting who invented this type of what I call a voodoo economic policy is Art Laffer, a California economist. ...”3 The phrase “voodoo economics” quickly caught on and pithily encapsulated the wackiness of the untried ... As for Dionysus: he was a pagan god linked with the bull — as the Charging Bull is linked with Wall Street. Straight answers to every question you've ever had about howthe economy works and how it affects your life In this Collector's Edition of their celebrated How anEconomy Grows and Why It Crashes, Peter Schiff, economic expertand bestselling ... Snap! Trickle-down economics, was a term coined by political satirist Will Rogers, also known as the horse and sparrow theory; it is a pejorative characterization of the economic proposition that taxes on businesses and the wealthy in society should be reduced as a means to stimulate business investment in the short term and benefit society at large in the long term. To put across the idea captured in point 4 of the definition given in the old ENCARTA dictionary (color added): Voodoo n Mass debt is progress? Sign up. Found inside – Page 28Voodoo Economics MAGIC REALISM It was George Bush who coined the phrase " voodoo economics . ... Although the term was meant to attack what became known as Reaganomics and Reagan's use of what Senator Howard Baker dubbed the “ magic ... If it looks, walks and quacks like a duck, he said, “it is a duck.” Call it what you like, but a “revenue enhancement” is a tax. Sounding the Limits of Life: Essays in the Anthropology of Biology and Beyond - Stefan Helmreich Once they became law, the … No question. But, once Reagan was gone, the GOP Establishment who’d never liked Reagan began moving back in. Now, we would be immersed poverty (and simplicity; hopefully humility), without the smoke and mirrors. In the years since, professional supply-side shills have continued peddling this fiscal fiction. Spirit Daily Blog. It was George Bush the elder who coined the term as a slander against Ronald Reagan’s economic policies, but his son George W. Bush embraced the mysticism of tax cuts that magically increase economic growth and increase government revenue – and got burned by the result. If fact, when he lost re-election to Bill Clinton, he left him a note in the Oval Office, wishing Clinton luck because that his success was America's success. 32164. The idea is that if the expenses of corporations are reduced, the savings "trickle down" to the rest of the economy, spurring growth. First he denied he’d ever called Reaganomics “voodoo.” Then, when reporters dug up the footage, he said he’d been “kidding,” and, in any case, supported Reagan’s agenda. By signing up you agree to our Terms of Use and Privacy Policy, The other way George H.W. But while Bush advertises the elimination of some deductions in the name of simplification, there are still ways that top earners can reduce their taxes to a real rate of 21 percent for earners making more than $10 million a year, according to an analysis by The New York Times reported by Josh Barro. $600. In fact, a particularly pernicious feature of the proposal would end the deductibility of state and local taxes – effectively penalizing people who live in states where higher taxes are used for higher levels of investment in education, infrastructure and other public programs. The top corporate statutory tax rate would be 20 percent, down from 35 percent. It is the Midas touch we warned about previously. Found inside – Page 72Several years ago someone coined the term “ voodoo economics . ” On reading the budget information provided by the Department of Labor for VETS for fiscal year ( FY ) 2000 in the categories of LVER and DVOP and upon finding additional ... Never before have men so disdained their humanness and their place in the created order. Tax cuts like these will mean thousands in tax savings for people in the top 1 percent but would be negligible for many working families. Ironically, it was G H W Bush (seen above) who coined the term "voodoo economics". ‘The Great Reset’ is a term that has been bandied about quite readily by most Western neo-liberal politicians. Somehow we keep running the same voodoo “experiment” over and over, relearning the hard way something that was obvious to Poppy nearly 40 years ago. Voodoo economics is a demeaning phrase coined by George H. W. Bush to attack Reaganomics of 1980s, which introduced what came to be known as supply side economics with its infamous Laffer Curve. It was H. W. Bush who coined the term “voodoo economics.” Reagan was as hated by the Republican establishment of his time as Trump is today. Over subsequent years, Reagan endorsed and signed into law 11 different tax increases, as economist and former Reagan official Bruce Bartlett has documented. Even on the Republican side, Donald Trump has said that it’s “ridiculous” that hedge fund investors pay less tax than middle-class families and that he’s be OK with paying higher taxes himself – statements that earned him the enmity of the Club for Growth, the defenders of the glided class. The last genuinely conservative candidate to even run was Reagan. 1,786 Likes, 63 Comments - Mitch Herbert (@mitchmherbert) on Instagram: “Excited to start this journey! ], Filed Under: Commentary, Prophecy Tagged With: voodoo economics, Spirit Daily is sustained by its bookstore, “special reports,’ and donations. CHARLOTTESVILLE, Va. (AP) — A jury ordered 17 white nationalist leaders and organizations to pay more than $26 million in damages Tuesday over the violence that erupted during the deadly In perplexity is the opportunity for the humility that humanity has discarded. Midas was a legendary king of Phrygia (in modern-day Turkey). Found inside – Page 378George Bush wants to chop it back down ; the president who coined the phrase " voodoo economics " says that will produce more revenue . Brooklyn , N.Y. January 19 , 1989 Chapter 1 1. José Ortega y Gasset , The Revolt Introduction to the ... To describe Reagan's policies, which we have been following ever since, despite the … And he was assailed as a dunce and an economic illiterate. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. This page provides a sociological definition of otherness and how it works in societies. Found inside – Page 68I do not know who originally coined the term voodoo economics , but I have heard it for the first time here , first - hand . PanAmSat is a private corporation making a determination where they want to make their investment . Financial Terrorist America, who gave the world the 2008 crash. Reagan, the shining white knight of small-government conservatism, left the US economy with the biggest national debt in history. When he took over the presidency, he reversed these policies, perhaps even to much so, but necessarily. Gnosticism (from Ancient Greek: γνωστικός, romanized: gnōstikós, Koine Greek: [ɣnostiˈkos], 'having knowledge') is a collection of religious ideas and systems which originated in the late 1st century AD among Jewish and early Christian sects. But on Wall Street, near that charging bull (idol), they charge on! Prior to the Reagan administration, the United States economy experienced a decade of high unemployment and persistently high inflation (known as stagflation). It refers to the economic policies created by U.S. President Ronald Reagan during the 1980s and still widely practiced.. Your email address will not be published. He used euphemisms. When Reagan won the Republican nomination, he made Bush his running mate; the two won decisively in both 1980 and 1984. Over 2 million text articles (no photos) from The Philadelphia Inquirer and Philadelphia Daily News; Text archives dates range from 1981 to today for The Philadelphia Inquirer and 1978 to today for the Philadelphia Daily News Almost 40 years ago, during the 1980 presidential primary, Bush famously characterized the agenda of then-rival Ronald Reagan as “voodoo economics.”. Do you remember the phrase “voodoo economics”? Back in 1980 another George Bush coined the term “Voodoo economics” to describe the policies of his rival for the Republican presidential nomination, Ronald Reagan. “I was really stunned when he said it,” said John “Buck” Chapoton, who served as Reagan’s assistant treasury secretary for tax policy. Your email address will not be published. It was Bush who coined the term “Voodoo Economics” when referencing Reagan’s “Supply Side” idea that He has the life of all in His design. The Zionist/Jew - Bank Of England, and US Federal "Rothschild, et al" Reserve. He Coined the Term "VOODOO ECONOMICS" used to Describe Ronald Reagan's So Called "Trickle Down" Theory. $600. That is the revenue that the federal government would lose if the Bush tax plan is implemented over 10 years. It’s safe to say this is not what George H.W. It is another sign of the times. They conveniently ignore current reality: The largest U.S. companies spent more than $550 billion buying their own stock in 2014 and are on pace to come close to $1 trillion this year, Bloomberg reported in July. The Zionist owned/controlled corporate Ponzi banks. From Neal Stephenson — who coined the term "metaverse" in his 1992 novel Snow Crash — comes a sweeping, prescient new thriller that transports readers to a near-future world in which the greenhouse effect has inexorably resulted in a whirling-dervish troposphere of superstorms, rising sea levels, global flooding, merciless heat waves, and virulent, deadly pandemics. How would you feel if most of what you made went to paying interest? That curve-related government revenue with tax rates and argued that between 0 and 100% tax rates, which bring zero revenue, there will be one rate that would maximise it. Even using the magic accounting of the Bush team, federal spending will grow at less than a third of the rate of economic growth generally. On 20 Sep 2018 @Smith_JeffreyT tweeted: "The health emergency in #Zimbabwe has "s.." - read what others are saying and join the conversation. The terms “voodoo economics”, “voodoo mathematics”, “voodoo statistics”, “voodoo ecology” and so on, seem to have been coined with the same object in mind. But even Reagan knew his fiscal promises were a scam. He later became an advocate of trickle-down economics, at least for Republican voters, as Reagan’s VP and when he succeeded Reagan. Voodoo Economics was a term coined by George H W Bush describing Ronald Reagan’s economic policies known as Reaganomics before he became his Vice President. Do note that because this is not a charity, donations are not tax deductible. So Reagan picked as his veep the man who’d coined the term “voodoo economics” to describe Reagan’s policies. Found inside – Page 14The remaining chapters of this book will be devoted to an overview of economic policies during the past 35 years with an emphasis on economic malpractice that I refer to as voodoo economics . The term , “ voodoo economics , ” was coined ... The exact power of the charm varies--voodoo is an oral religion, and its tenets depend on the user--but it often is used as a protective charm to ward off evil spirits. Richard Nixon Bush Sr knew it was a big lie and coined the term VOODOO ECONOMICS because he knew the whole premise was a lie. The Zionist/Jew - Bank Of England, and US Federal "Rothschild, et al" Reserve. The sad thing is, the guy who coined the term "Voodoo Economics" not only lost the election to Reagan, but then he lost his second term for trying to fix the hemorrhaging and shore things up as best he could following the spendathon that Reagan went on. Stephen Colbert commented he wasn't a bitter partisan. But the point here is money and its preeminent place in an American psyche. A term has been coined for product sellers who shrink their packages, and thus, the amount of product in those packages, keeping the package price the same: shrinkflation. Bush. When he took over the presidency, he reversed these policies, perhaps even to much so, but necessarily. Charles Bryant: No. Almost 40 years ago, during the 1980 presidential primary, Bush famously characterized the agenda of then-rival Ronald Reagan as “ voodoo economics .”. Prior to becoming Reagan’s vice president, George H. W. Bush coined the term “voodoo economics” as a proposed synonym for Reaganomics. The main thesis of this was professed by the discredited economist Arthur Laffer who invented the Laffer Curve. Found inside – Page 176Poor George Bush — ironically, the very person who had coined the phrase "voodoo economics" for that approach when he ... Toward the end of Ronald Reagan's term, he seemed to lose interest in jellybeans, or maybe he forgot about them, ... Think about it: a debt of twenty-five trillion is more than $75,000 per person (including babies, the retired, and everyone in-between) and $182,307 for every household. Found inside... the Republican Party nomination in Pennsylvania as the anti-Reagan and coined the term voodoo economics to describe Reagan's plan for cutting taxes, increasing defense spending, cutting domestic spending, and balancing the budget. Bush’s passing was the end of an era. Attacks on Keynesian economic orthodoxy as well as empirical economic models such as the Phillips Curve grew. The phrase is back in use as President Trump is also proposing tax cuts. Found inside – Page 86His critics pointed out ( including the current vice - president , who coined the term “ Voodoo Economics " ) that it couldn't be done except with mirrors . On the evidence , the critics were right . On the other side , administration ... This Element will focus on why governments make these poor policy choices. We will discuss a number of examples of 'zombie ideas' that refuse to die, and then discuss the factors that are associated with their survival. For an Example, Here are my own 2 answers below. Found inside... the Republican Party nomination in Pennsylvania as the anti-Reagan and coined the term voodoo economics to describe Reagan's plan for cutting taxes, increasing defense spending, cutting domestic spending, and balancing the budget. @alwaysclau: “It’s quite an experience hearing the sound of your voice carrying out to a over 100 first year…” Mass debt is progress? Josh Clark: John Hughes. The term voodoo economics was coined by George Bush Sr to attack Ronald Reagan's economic policies that prescribed tax cuts as the best solution to the country's problems. You cannot serve God and wealth.” Does anyone get it? (Doesn’t money always win?). It was George Bush the elder who coined the term as a slander against Ronald Reagan’s economic policies, but his son George W. Bush embraced the mysticism of tax cuts that magically increase economic growth and increase government revenue – and got burned by the result.Now Jeb Bush, aiming to be the third member of the Bush clan to take … Found inside – Page 23Several years ago , someone coined the term " voodoo economics . " when reading the budget information provided by the Department of Labor for VETS for fiscal year 2000 in the category of LVERS and DVOPs and upon funding additional ... If anything, by adopting what is called a territorial tax system for corporate profits, Bush would give corporations a permanent incentive to continue shunting profits through overseas tax havens, where they would be officially out of reach of the Internal Revenue Service. “Jeb!” has made faint nods toward the populist anger over increasing income inequality, but the tax plan he has released this week shows he is as wedded to failed conservative economic orthodoxy as his relatives and the rest of the Republican political leadership. He is a proponent of Supply Side Economics. Hard to believe it was George Bush, Sr. who first coined the term ‘Voodoo Economics’ to explain Ronald Reagan’s tax plan, but once the Gipper asked him to be his V.P., he never looked back. The consequences are that the national investments we need to improve public schools, make higher education more accessible, rebuild our infrastructure, bolster research and development to transition to a green economy and to help struggling families and individuals will continue to be grossly inadequate. Vice President George H. W. Bush turned out to be a very good and loyal Vice President. Trump may be an arrogant asshole who took care of the 1% before the working class. Bush’s Oval Office note to me revealed the heart of who he was. Found inside – Page 34It's voodoo economics . Mr. Bush coined the term himself . They are only putting in IOU's saying that when you need the money we'll give it to you . They're not putting in money that can be invested to produce income to support the fund ... With a pajama-clad President Reagan refusing to leave the White House on his successor’s Inauguration Day, Buckley has given this farce of Oval Office politics a nearly perfect beginning. Baker was wary of pushing too hard for compromise, however, because of his former role as campaign manager for George Bush, the man who coined the ''voodoo economics'' phrase. Voodoo economics are back with a vengeance. From the Civil War general who believed they raised troops' morale, it's slang for prostitute. Also tucked into the proposal: Elimination of the employer portion of the Social Security payroll tax for workers who have reached retirement age but choose to remain in the workforce. Last year they crafted the GOP’s $1.9 trillion deficit-financed, top-heavy federal tax cut. Faith. The first reference to trickle-down economics came from American comedian and commentator Will Rogers, who used it to derisively describe President Herbert Hoover's stimulus efforts during the Great Depression. [35] A woman demonstrates outside the Federal Courthouse Tuesday, Nov. 23, 2021, in Charlottesville, Va., after a jury ordered 17 white nationalist leaders and … Bush who famously coined the term “voodoo economics” as a way for Bush to challenge Ronald Reagan’s supply-side economics ideas during the presidential primary season of 1980. In fact, it was Bush who coined the term "voodoo economics". He was 81 years old. Seeing as this song was released in 1992, that would have been 12 years in the past. Gh Bush Coined the term “VooDoo Economics” when running against Reagan in the Republican primary. While running against Ronald Reagan for the Presidential nomination in 1980, George H. W. Bush had derided the trickle-down approach as "voodoo economics". It will be accomplished only when humankind reaches a desperate hand to the Almighty Good Who is God above all maelstrom. Bush and Cheney, who I'm sure you voted for, doubled the national debt again, into the trillions. Back to the “voodoo economics” thing: the phrase was coined by George Bush, the elder, who used it during the 1980 Republican primary, when he was running against Ronald Reagan. Perhaps Bush counted on the soothing power of the right euphemism. Found inside – Page 3-1051And , if one were to quantify this and treat economics with the seriousness that one , you know , addresses chemical and air quality , I mean it would just be so obvious . And the sad thing is the person who coined the term voodoo ... The government can call its economic principles whatever it likes – let’s call them “voodoo economics”, coined for Reagan’s hang-the-deficit philosophy – but it looks like it … Found insideSteel Magnolia: A nickname coined by the press in 1976 to describe Rosalynn Carter, a proper Southern lady with an iron backbone. Voodoo economics: A phrase coined by George H.W. Bush in the 1980 Republican primary race to refer to ... Ed Rogers: George H.W. Josh Clark: H.W. Needless to say, that didn’t happen: They added $1.5 trillion Found inside – Page 127the world grappled to understand the meaning of it all, the best the leader of the Free World could muster was the prospect of making more money. ... He ran against Reagan in and coined the term “voodoo economics. Even coined the then-derisive term “Reaganomics.” His name was George H.W. That is, of course, by design. For many, it’s needed — those, especially young, who are out of work, hopefully for not long. According to supply-side economics, consumers will benefit from greater supplies of goods and services at lower prices, and employment will increase. Who then would have foreseen that real Voodoo would be used against the son of this man who became President Reagan’s Vice President and successor? Found inside – Page 15As the Reagan era was winding down, America masochistically decided that eight years of economic hardship were not enough. In 1988, “Reagonomics” was replaced by George H.W. Bush's “voodoo” economics, a term coined by Ronald Reagan ... These policies are commonly used with supply-side economics, referred to as trickle-down economics by political enemies and free market economics by political advocates. He later became an advocate of trickle-down economics, at least for Republican voters, as Reagan’s VP and when he succeeded Reagan. it's not "left vs. right", it's state vs rights. Found insideAs noted by the magazine The Economist, country clubs are traditionally places “where affluent, white (mostly ... chew gum, and stare blankly across the room) about “voodoo” economics, a term coined by Reagan's opponents to refer to ... Voodoo economics is a derogatory term used to describe the economic process known as supply-side economics. So, indeed, the image of Reagan, who was more politically popular than W's dad, the more fiscally responsible Bush Sr. who coined the term "voodoo economics" to describe the policies of Reagan, may well be what W and his followers and much of the media are thinking of. Back in February I wrote in 'The Miasma Theory of White Racism:' Scientific-minded dissidents frequently compare today’s orthodoxy that the cause of whatever ails blacks is—and, indeed, must be—white racism to discarded scientific constructs such as phlogiston in chemistry and aether in physics. A feisty economist who coined the term “voodoo economics” for President George H.W. No wonder Citizens for Tax Justice executive director Bob McIntyre says that Bush “derides special interest giveaways and crony capitalism but then outlines a plan riddled with special interest giveaways and crony capitalism ideals.”. In one fell swoop, the U.S. government increased its budget by fifty percent, and is about to increase it by another fifty percent with an additional package. The term was used by then-presidential candidate As a result, the zombie ideas of Reaganomics only grew stronger. Opinions to start the day, in your inbox. 8y. His pledge of no new taxes as well as H. Ross Perot cost him the 1992 election but remember he was the man who coined the term Voodoo Economics when speaking of Reaganonomics. Meanwhile, new polls this morning on the Democratic presidential race have Bernie Sanders now slightly ahead of Hillary Clinton in Iowa, on the strength of an unapologetic platform of raising taxes on corporations and the wealthy and using that revenue to rebuild the country. The terms Latino, Hispanic and Latinx are often used interchangeably to describe a group that makes up about 19 percent of the U.S. population. Complete trust or conviction in someone or something. I think it was St. Reagan who coined the term “voodoo economics” – an oxymoron if ever there was one. We need to send them a lifeline. Oddities: 11:11 A.M. On 11/11 Said What — If Anything? In the riveting, groundbreaking book Econoclasts, historian Brian Domitrovic tells the remarkable story of the economists, journalists, Washington staffers, and (ultimately) politicians who showed America how to get out of the 1970s ... But the big number to remember is $3.4 trillion. Voodoo economics – a disparaging term coined by President George HW Bush to discredit President Reagan’s economic policies. Uh, Gary, George Bush is the dude who coined the term "voodoo economics". The term “metaverse" is the latest buzzword to capture the tech industry's imagination — so much so that one of the best-known internet platforms is rebranding to signal its embrace When he discovered to his horror that his touch had turned his food and drink—and even his daughter—to gold, he begged Dionysus to take back the gift, and Dionysus agreed to do so. Voodoo economics are back with a vengeance. According to an analysis in praise of the plan by conservative economists John Cogan, Martin Feldstein, Glenn Hubbard and Kevin Warsh, the Jeb Bush tax plan would cut the individual top statutory rate from 39.6 percent to 28 percent, and middle-income filers would generally see a tax rate of 25 percent.
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