policy

Reagonomics as illustrated by Ronald Reagan sitting atop a huge pile of money

Trickle down economics is known by a number of names: supply side economics, Reaganomics, the Laffer Curve, voodoo economics, deregulation, Libertarianism, Mudsill Theory, Two Santa Claus theory, horse and sparrow theory, and the Trump tax cuts, to name a few. It has been espoused by everyone from Ayn Rand to Milton Friedman to Alan Greenspan to Gordon Gecko.

Trickle down economics involves focusing the brunt of government effort on helping the wealthy, at the expense of the middle class and the poor. The theory says that the wealthy elites of the country have proven themselves capable patricians for stewarding the lives of the masses through myth and fairytale in the name of patriotic duty. The “supply” in supply side are the rich, who will create companies that sell products to people who didn’t even realize they needed them. If we give enough of our collective tax pool to them, they say, they’ll create jobs and prosperity for everyone else.

The problem for trickle down economics is that that isn’t true at all. It simply doesn’t happen. Time and time again over the past approximately 200 years, the ideology of rewarding the wealthy for being wealthy has proven its premises to be completely false. Deregulation and starving the government don’t produce a prosperous utopia — they produce recessions and depressions. They produce conglomerates too big to fail, that get rewarded for their brazenly irresponsible speculation with Main Street’s money, and flaunt their ability to simply capture government in our collective faces.

Trickle down economics since the 1970s

In its most recent incarnation as trickle-down, supply-side, or Reagonomics, tax cuts are pitched as paying for themselves when they have in actual fact succeeded in blowing up the deficit and the national debt. The work of Arthur Laffer and Jude Wanniski at a fateful meeting with Dick Cheney and Donald Rumsfeld in 1974, trickle-down economic theory was put into practice during the Reagan years and has been failing to produce the promised results of paying down the debt for almost half a century.

Jude Wanniski’s “Two Santa Claus” strategy laid the political groundwork for what would soon be branded as supply-side, or trickle-down, economics. Observing in the 1970s that Democrats played “Santa” by expanding popular social programs, Wanniski warned Republicans that positioning themselves as the party of spending cuts cast them as the “anti-Santa.” His fix was simple but potent: become a second Santa by promising sweeping tax cuts. Republicans, he argued, could shower voters with fiscal “gifts” while leaving beloved programs intact, sidestepping the backlash that traditionally followed austerity talk.

This tactical reframing meshed perfectly with the emerging supply-side creed. By asserting that lower taxes on corporations and high earners spur investment, production, and ultimately broad prosperity, Republicans could claim that their giveaways weren’t merely political theater—they were an economic necessity. The brilliance (and cynicism) of the scheme was its indifference to short-term deficits: ballooning red ink would corner future Democratic administrations into either raising taxes or cutting spending, both politically toxic options.

In practice, the Two Santa Claus playbook flipped classical, demand-driven thinking on its head. Rather than boosting middle-class wages to stoke consumption, it poured resources into the top of the income ladder and trusted prosperity to “trickle down.” The approach reached full throttle in the Reagan era—taxes slashed, spending still high—and its legacy endures: chronic deficits, rising inequality, and an ongoing partisan tug-of-war over who pays the bill.

increasing national debt ratio thanks to trickle down economics scam

The Big, Beautiful, Debt-Ballooning Bill

Look no further than the monstrosity of a bill the Republicans are trying to jam through the reconciliation process. Expected to make the 2017 Trump tax cuts a permanent welfare handout to the wealthiest billionaires on the planet, the so-called “Big, Beautiful Bill” is also slated to add $4 trillion to the national debt.

We can’t keep going on this way.

It’s long past time we undertake the difficult work of educating the population more broadly about this GOP economics scam that’s been running for the past 50 years and running up the till while nurturing a truly nasty partisan political divide as insult to injury.

Trickle down doesn’t work. Tax cuts to billionaires doesn’t work — at least, not for anyone other than the billionaires and political elite class. We need an economic system that works broadly for everyone, otherwise sooner or later it all comes crashing down and we are in for a (literal) world of hurt.

Related concepts:

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AI woman with superintelligence

Understanding AI Accelerationism: Silicon Valley’s Radical Vision for the Future

What is AI accelerationism? AI accelerationism, or “e/acc” as it’s known in tech circles, has emerged as one of Silicon Valley‘s most influential and controversial ideological movements. At its core, it represents a radical optimism about artificial intelligence and its potential to reshape human civilization as we know it.

What is AI Accelerationism?

At its most basic, AI accelerationism advocates for the rapid and unrestricted development of artificial intelligence. Unlike those who call for careful regulation and safety measures, accelerationists believe that faster AI development is not just beneficial but crucial for humanity’s future. They reject what they see as excessive caution, often dismissing AI safety advocates as “doomers.”

The Core Beliefs

Technological Solutions to Global Problems

Accelerationists believe that unrestricted technological progress, particularly in AI, holds the key to solving humanity’s greatest challenges. From their perspective, issues like climate change, poverty, and disease are problems that advanced AI could potentially solve if we develop it quickly enough.

Post-Human Future

Perhaps most ambitiously, many e/acc proponents envision a future where the line between human and machine blurs. They embrace the possibility of human-AI integration and the emergence of new forms of consciousness and intelligence.

an AI accelerationism vision of the future

Market-Driven Innovation

The movement has strong libertarian leanings, advocating for minimal government intervention in AI development. They believe that market forces, not regulation, should guide technological progress.

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What is a dictator? Not someone you wanna meet in a dark alley.

What is a dictator, and what drives the allure of absolute power? How do dictators reshape the political and social landscapes they dominate? This post explores the intricate systems of control underpinning authoritarian governance, tracing its evolution from historical precedents to modern manifestations, and examining the far-reaching consequences for societies caught in its grip.

Dictators: Unraveling the Complexity of Authoritarian Governance

Political power represents a profound and intricate spectrum of human organizational capability, with dictatorships emerging as one of its most complex and destructive manifestations. The journey of understanding dictatorships requires a nuanced exploration that transcends simple categorizations, delving deep into the historical, sociological, and psychological landscapes that enable and sustain authoritarian control.

The Essence of Dictatorial Power

At its core, a dictator represents far more than a mere political leader. These individuals — often demagogues — are architects of comprehensive systems of control, systematically dismantling institutional safeguards and reconstructing societal frameworks to serve their singular vision of governance. Unlike democratically elected leaders constrained by robust institutional checks and balances, a dictatorship operates through a sophisticated network of power consolidation that penetrates every aspect of social and political life.

The hallmark of dictatorial governance lies not just in the concentration of power, but in the systematic elimination of alternative power structures. These leaders do not simply rule; they fundamentally reshape the entire landscape of political possibility, creating environments where opposition becomes not just difficult, but potentially life-threatening.

a dictator in the style of North Korea
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uncanny valley version of the dollar bill the lollar

The trajectory of the U.S. national debt is a compelling narrative that mirrors the nation’s evolving priorities, polarities, challenges, and triumphs. From the nascent days of the republic, grappling with the financial aftermath of the Revolutionary War, to the expansive fiscal policies of the 20th century, each era offers a unique lens into the economic and political forces at play in the history of the national debt.

In the late 18th century, under the stewardship of Alexander Hamilton, the United States established its first national debt—a strategic move to unify the fledgling states and build creditworthiness. The 19th century witnessed fluctuations driven by events such as the Civil War, which necessitated unprecedented borrowing, followed by periods of aggressive debt reduction during peacetime.

The 20th century introduced complexities with global conflicts like World War I and WWII, the Great Depression, and the Cold War, each leaving indelible marks on the nation’s fiscal landscape. Post-World War II prosperity facilitated debt reduction, but subsequent decades saw increases due to military engagements, economic policies, and social programs.

As we navigate the 21st century, the national debt continues to be a focal point of economic discourse, influenced by factors ranging from tax policies to global pandemics. Tax cuts for the wealthy under Reagan, the Bushes, and most notably Trump since 1980 have blown a hole in the debt. Military adventurism around the world including 2 completely unpaid for Gulf Wars in the ’90s and 2000s and the 20-year war in Afghanistan ballooned it as well.

Contributors to the national debt: 1. military expenditures, 2. tax cuts for the wealthy, 3. social spending

This timeline delves into the pivotal moments that have shaped the U.S. national debt, offering insights into the decisions and events that have influenced its rise and fall over the centuries — so we can get intimately familiar with which policies increase or decrease it.

Continue reading A Brief History of the National Debt
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Mean World Syndrome is a fascinating concept in media theory that suggests prolonged exposure to media content that depicts violence and crime can lead viewers to perceive the world as more dangerous than it actually is. This term was coined by George Gerbner, a pioneering communications researcher, in the 1970s as part of his broader research on the effects of television on viewers’ perceptions of reality.

Origins and development

Mean World Syndrome emerged from Gerbner’s “Cultivation Theory,” which he developed during his long tenure at the University of Pennsylvania. Cultivation Theory explores the long-term effects of television, the primary medium of media consumption at the time, on viewers’ attitudes and beliefs. Gerbner’s research focused particularly on the potential for television content to influence viewers’ perceptions of social reality.

According to Cultivation Theory, people who spend more time watching television are more likely to be influenced by the images and portrayals they see. This influence is especially pronounced in terms of their attitudes towards violence and crime. Gerbner and his colleagues found that heavy viewers of television tended to believe that the world was more dangerous than it actually was—a phenomenon they called “mean world syndrome.”

Key findings

Gerbner’s research involved systematic tracking of television content, particularly violent content, and surveying viewers about their views on crime and safety. His findings consistently showed that those who watched a lot of TV believed that they were more at risk of being victimized by crime compared to those who watched less TV. These viewers also tended to believe that crime rates were higher than they actually were, and they had a general mistrust of people.

This perception is not without consequences. Mean World Syndrome can lead to a variety of outcomes, including increased fear of becoming a crime victim, more support for punitive crime policies, and a general mistrust in others. The syndrome highlights a form of cognitive bias where one’s perceptions are distorted by the predominance of violence showcased in media.

Mechanisms

The mechanisms behind Mean World Syndrome can be understood through several key components of Cultivation Theory:

  • Message System Analysis: Gerbner analyzed the content of television shows to determine how violence was depicted. He argued that television tends to present a recurrent and consistent distorted image of reality, which he termed the “message system.”
  • Institutional Process Analysis: This analysis considers how economic and policy decisions in broadcasting affect the portrayal of violent content.
  • Cultivation Analysis: This step involves surveying audiences to understand how television exposure affects their perceptions of reality.

Criticism and Discussion

While Gerbner’s theory and its implications have been influential, they have also attracted criticisms. Some researchers argue that the correlation between television viewing and fear of crime might be influenced by third variables, such as preexisting anxiety or a viewer’s neighborhood. Others suggest that the model does not account for the diverse ways people interpret media content based on their own experiences and backgrounds.

Furthermore, the media landscape has changed dramatically since Gerbner’s time with the rise of digital and social media, streaming platforms, and personalized content. Critics argue that the diverse array of content available today provides viewers with many different perspectives, potentially mitigating the effects seen in Gerbner’s original study of primarily broadcast television.

Modern relevance

Despite these criticisms, the core ideas of Mean World Syndrome remain relevant in discussions about the impact of media on public perception. In the modern digital age, the proliferation of sensational and often negative content on news sites and social media might be contributing to a new kind of Mean World Syndrome, where people’s views of global realities are colored by the predominantly negative stories that get the most attention online.

In summary, Mean World Syndrome is a key concept in understanding the powerful effects media can have on how people see the world around them. It serves as a reminder of the responsibilities of media creators and distributors in shaping public perceptions and the need for media literacy and critical thinking in helping viewers critically assess the barrage of information they encounter daily.

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SOTU 2024 Joe Biden Presidential address

Strong economic messages of the Keynesian buttressing of the middle class that is Bidenomics were everywhere in evidence at last night’s State of the Union address, Biden’s third since taking office in 2021. In SOTU 2024 he spoke about stabbing trickle-down economics in its gasping heart as a repeated failure to the American people. Instead of giving another $2 trillion tax cuts to billionaires, Biden wants to give back to the people who he says built America: the middle class.

The President delivered strong, sweeping language and vision reminiscent of LBJ’s Great Society and FDR‘s New Deal. He also delivered a heartwarming sense of unity and appeal to put down our bickering and get things done for the American people.

“We all come from somewhere — but we’re all Americans.”

This while lambasting the Republicans for scuttling the deal over the popular bipartisan immigration bill thanks to 11th hour interference from TFG (“my predecessor” as JRB called him). “This bill would save lives!” He is really effective at calling out the GOP‘s hypocrisy on border security with this delivery.

“We can fight about the border or we can fix the border. Send me a bill!”

He is taking full advantage of being the incumbent candidate here. He has the power and the track record to do all these things he is promising, and he’s telling the exact truth about the Republican obstructionism preventing the American people from having their government work for them.

SOTU 2024 Joe Biden fiery speech with Kamala Harris and Mike Johnson in the background behind him

I love that he calls out Trump in this speech, without naming names — almost a kind of Voldemort effect. He who must not be named — because giving him the dignity even of a name is more than he deserves.

He says that Trump and his cabal of anti-democratic political operatives have ancient ideas (hate, revenge, reactionary, etc.) — and that you can’t lead America with ancient ideas. In America, we look towards the future — relentlessly. Americans wants a president who will protect their rights — not take them away.

“I see a future… for all Americans!” he ends with, in a segment reminiscent of the great Martin Luther King’s “I Have a Dream” speech, with its clear vision of power and authority flowing from what is morally right and just, instead of what is corrupt and cronyish. It gave me hope for the future — that Americans will make the right choice, as we seem to have done under pressure, throughout our history. 🤞🏽

Continue reading Biden SOTU 2024: Success stories and big policy ideas
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Dark money refers to political spending by organizations that are not required to disclose their donors or how much money they spend. This allows wealthy individuals and special interest groups to secretly fund political campaigns and influence elections without transparency or accountability.

The term “dark money” gained prominence after the 2010 Supreme Court decision in Citizens United v. Federal Election Commission. In that case, the Court ruled that corporations and unions could spend unlimited amounts of money on political campaigns, as long as the spending was not coordinated with a candidate’s campaign.

This decision opened the floodgates for massive amounts of dark money to flow into political campaigns, often with no way for the public to know who was behind it. Dark money can come from a variety of sources, including wealthy individuals, corporations, trade associations, and non-profit organizations.

Hidden donors

Non-profit organizations, in particular, have become a popular way for donors to hide their political contributions. These organizations can operate under section 501(c)(4) of the tax code, which allows them to engage in some political activity as long as it is not their primary purpose. These groups are not required to disclose their donors, which means that wealthy individuals and corporations can funnel unlimited amounts of money into political campaigns without anyone knowing where the money came from.

Another way that dark money is used in politics is through “shell corporations.” These are companies that exist solely to make political donations and are often set up specifically to hide the identity of the true donor. For example, a wealthy individual could set up a shell corporation and then use that corporation to donate to a political campaign. Because the corporation is listed as the donor, the individual’s name does not appear on any public disclosure forms.

The money can be used to run ads, create content and propaganda, fund opposition research, pay armadas of PR people, send direct mail, lobby Congress, hire social media influencers, and many other powerful marketing strategies to reach and court voters.

These practices erode at the foundations of representative democracy, and the kind of government the Founders had in mind. One is free to vote for who one wishes, and to advocate for who ones wishes to hold power, but one has no Constitutional right to anonymity when doing so. It infringes on others peoples’ rights as well — the right to representative and transparent government.

Dark money impact

Dark money can have a significant impact on elections and public policy. Because the source of the money is not known, candidates and elected officials may be influenced by the interests of the donors rather than the needs of their constituents. This can lead to policies that benefit wealthy donors and special interest groups rather than the broader public.

There have been some efforts to increase transparency around dark money. For example, the DISCLOSE Act, which has been introduced in Congress several times since 2010, would require organizations that spend money on political campaigns to disclose their donors (the acronym stands for “Democracy Is Strengthened by Casting Light On Spending in Elections”). However, these efforts have been met with resistance from groups that benefit from the lack of transparency — who, somewhat ironically, have been using their influence with the Republican Party to make sure the GOP opposes the bill and prevents it from passing, or even coming up for a vote at all.

In addition to the impact on elections and policy, dark money can also undermine public trust in government. When voters feel that their voices are being drowned out by the interests of wealthy donors and special interest groups, they may become disillusioned with the political process and less likely to participate.

Overall, dark money is a significant problem in American politics. The lack of transparency and accountability around political spending allows wealthy individuals and special interest groups to wield undue influence over elections and policy. To address this problem, it will be important to increase transparency around political spending and reduce the influence of money in politics.

Dark Money: Learn more

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Climate change denial
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