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12 Biggest Right-Wing Lies About America

These political fallacies are giving America a false vision of our economy and world.

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If we do those things, overall health care costs will continue to rise. And we’ll have sicker seniors, more seniors in poverty, and seniors who don’t live as long.

Means-testing won’t cut it, either. Scratch most means-testing proposals and you’ll find they’re not targeting “millionaires and billionaires” – they’re aimed at the middle class.

We already know how to handle “millionaires and billionaires” more fairly: Raise their taxes. That’s simple, clean, efficient, and fair.

The only way to fix our Medicare cost problem is by fixing the impact of unrestrained greed on our health care system. We need to do something about that — now.

We don’t need to cover less. We need to pay less.

5. We’re “living beyond our means.”

More snake oil.It’s undertaxed corporations and billionaires who are living beyond our nation’s means, by claiming an inordinate and unearned share of our nation’s wealth and not paying their fair share of taxes for it.

We have the means to be the country we’ve always been. What we’ve lacked is the political will to buck the moneyed forces who are dismantling a system that’s worked for 75 years.

Ours is a country that won two world wars. We once led the world in economic growth and blazed the way in science, technology, and the arts. We decided to send human beings to the moon and back in ten years … and did it.

Now we’re told it’s “beyond our means” to live as well as we did in 1969. There’s a word for that, but it’s not printable.

6. Our problems aren’t anybody’s fault.

This fallacy might be called the “Sh*t Happens” school of economic thinking. It says that the economy just crashes from time to time, recurrent and unavoidable disasters just like earthquakes.

But we avoided these crises for decades by regulating Wall Street and prosecuting crooked bankers. When we stopped doing those things we got another crisis.

Cause and effect.

7. Banks paid back what they owed us from the bailout.

Here’s why this is a fallacy: First, we don’t have a full accounting even now. Secondly, we’re still responsible for the enormous amount of toxic risk which Wall Street created and the government then assumed on its behalf.

Besides, that’s not how business works. Every major bank in this country was a failing business with intolerable risk exposure. Loans under those conditions are of enormous and inestimable value.

When you ask nothing in return – not partial ownership, not a percentage of the profits, not even an end to their criminal behavior – you’re giving away the store. And when you give those loans to serial crooks and cheaters – people who serially cheat you – people, you’ve been had.

8. Wall Street-ers didn’t commit any crimes – or they’re too hard to prosecute.

Which gets us to our next fallacy, or fallacies. There’s overwhelming evidence, and a mound of billion-dollar settlements, demonstrating that banks — and individual bank executives — broke laws over and over in the run-up to the current crisis.

These mountains of prima facie evidence were ignored, and continue to be ignored, by the Obama/Holder Justice Department.

Now we’ve learned that all the banks knowingly defrauded regulators in a LIBOR scandal. All of them!

LIBOR is like one of those Agatha Christie novels where all the suspects did it.

9. “Ideologues” are getting in the way of “bipartisan” and “technocratic” solutions to our problems.

This is another fallacy – one they’ve been using to sell unwise, unpopular, and unfair policies. It’s usually attached to billionaire-funded corporate agendas like those of the “Simpson Bowles” plan, the Democratic group called Third Way, and the corporate CEOs of “Fix the Debt.”

 
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