Things were almost perfect during the seventh and eighth years of the Presidency of GW Bush: The Axes of Evil had been subdued (Really?); income tax rates for the highest earners were at a historic low(TRUE); the terrorists had been vanquished(FALSE); income tax rates for the highest earners were at a historic low; the estate (death) tax – (inheriting an estate enables hard working Americans to be successful because of their birth situation) was on life support (TRUE);income tax rates for the highest earners were at a historic low; there was almost no deficit adding to the minuscule national debt (FALSE); income tax rates for the highest earners were at a historic low; access to contraception and abortion for people without means was low (TRUE); and fewer Americans than ever understood Natural Selection in specific or science in general (TRUE). The only dark cloud on the horizon (besides the fact that Social Security was on sound footing) was in housing: some very wealthy people – of the class know as job creators – had been growing our economy by speculating on increasing housing values, which had created a bubble getting ready to burst; and many home mortgages – of a type labeled subprime – had been written because the government forced financial institutions to make loans to people who had no chance of ever paying them back(FALSE). (The job creators dealt with the latter issue by hiding these bad loans in a package of securities, which they – using the best of free market principles – sold to unsuspecting clients) (ALL TRUE). When the housing bubble burst, the shady, worthless securities were exposed, markets collapsed, millions of job were lost (TRUE), many homes became worth less than what was owed on them (TRUE), and then, even worse, a Democrat – and a Black person – was elected President.
The President and his Democratic Party friends came into office and instantly the national debt and the deficit became huge (FALSE),unemployment reached levels almost as high as during the Reagan Administration(TRUE), gas prices skyrocketed, our national defense was compromised, and – horror of horrors – legislation to help people gain access to affordable health care was signed into law (TRUE). Even worse, the policy – begun in the previous presidency – of helping the financial and auto industries by providing low interest loans was continued(TRUE). What could have been worse? Higher taxes? Food stamps and unemployment insurance for those who were living the American Dream until their jobs were destroyed? Higher taxes? Spending tax money on successful military missions? Higher taxes? Strengthening public schools in poor neighborhoods so that some could gain the skills to survive, and even prosper? Higher taxes? Improved access to contraception and woman’s health needs? Marriage equality?
N.B.: taxes on moderate incomes are lower than they were on Jan 19, 2012; the marginal (highest) are unchanged.
Until one understands what is wrong with this tea party perception of history, they have no hope of understanding the USA of today.