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Republicans embrace Socialism for the Rich

Posted 28 September 2020 at 10:26 am

Editor:

“Big Business wants Socialism on losses, Capitalism on profits,” said Pat Golden, a Senior Analyst for the NYS Legislature, Kendall ’79.

We taxpayers (by the way not Mr. Trump) bailed out Big Business in the Covid emergency (they’ve made nearly $300 billion since March 15th), whereas fresh water supply is threatened by lack of bailout support of smaller municipalities, 11 million small restaurants are in danger of losing their businesses, and 20 million working poor are in danger of eviction, with small (most) rental property owners also endangered, and high layoffs for many workers, with UIB running out. But Socialism for the Rich.

We bailed out Big Business in the 2008 Bush/Cheney crash. Socialism for the Rich.

We gave Big Business big tax breaks in the beginning of George W’s administration to stimulate the economy and it doubled the national debt. Socialism for the Rich.

We gave Big Business big tax breaks during the Reagan administration. President Reagan said that it would stimulate business, increase tax receipts and balance our budget. It doubled both the debt and deficit. Socialism for the Rich. President George H. Bush called it “Voodoo Economics.”

We now owe $26 trillion. That’s nearly 40 times the $712 billion we owed in 1980.

Health care for everyone, like in every other industrialized nation in the world.  “No, that’s socialism,” they cry. No, it’s Pro-Life!

Reserve Socialism for when business fails again, and they will. We can afford that, but not health care for poor children and their mothers or the working poor or homeless veterans.

Only Socialism for the rich, from the borrow-and-spend Republicans.

Bob and Marg Golden

Kent