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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (92367)	10/29/2008 9:58:11 AM
From: biotech_bull	Respond to of 541861

David Shrum has a thoughtful piece on the fading of the Reagan revolution and the redistribution argument. End Times for Reaganism When John McCain at last focused on the economy in this campaign, he recycled the Republican playbook from the late 70s and early 80s. Those old moves had had a remarkable shelf life, lasting a generation. They had carried the first of the hapless Bushes to the White House in 1988 and powered Newt Gingrich’s revolution in 1994. Even at the start of a new century they were still in use, occupying the heart of George W. Bush’s domestic economic policies. But now McCain is learning the hard way, even if he won’t yet admit it, that the Reagan playbook’s time has come and gone. The old Republican trick was to lie about taxes: Democrats would raise everybody’s and Republicans would cut everybody’s. (In reality, Republican largesse meant the millionaire reaped a windfall while the waitress got pennies and the public debt soared.) McCain has resuscitated that canard, making the case against Obama’s progressive tax policy. But he’ll lose the argument—and the Presidency—because the Republican era of wholesale deregulation and the redistribution of wealth, upward, is over. theweek.com