A bad day for the world

I was a university budget officer in my old US life in the 1980s. We saw the problems created with throwing the baby out with the bath-water in an attempt to employ trickle-down economics. It does not trickle-down, it clogs the works up like a toilet.

Upon his election, Reagan directed the rewriting of the tax code to make it 'simpler' and to give favourable rates to corporations, and the 'better off'. (But it took years to do and the code became even more ponderous than ever).

The problem with Reaganomics was that it created a Catch 22.

Reaganomics
The Economic Recovery Tax Act of 1981 represented a turning of the tide for taxation, even though it was only temporary. Reagan lowered all the individual tax brackets by 25% and changed the way companies accounted for capital expenditures, encouraging investment in equipment.

Simultaneously, Reagan sought to bring inflation under control and succeeded a little too well. The government's budget was based on an accepted rate of inflation, and when the attempts to quash inflation kicked in too quickly, a deficit was created.

Consequently, Reagan had to pare back some of his tax cuts in 1984, specifically on the corporate side, to try and make up the budget shortfall.

Whatever peoples' real reasons actually are it's certainly evident that there is an overwhelming disenchantment with the ruling liberal elite who don't listen to those who feel they have been left to rot. This certainly came into play in this election. I imagine many Trump supporters are thinned skinned enough to know exactly how they're perceived by those who cannot disguise their belief that they have a superior intellect to the "stupid" proletariat.

No dd, I meant ALl disenfranchised people. I find it slightly insulting that you seem to think that I just meant white people! Why would I?!!

Last week Trump was telling us that the whole of the political system and the CIA were corrupt and there was a conspiracy going on, well how will that work now he is the head of all those agencies? Will he sack the lot of them?

Luckylegs, Trump was supported by the KKK

Trump is going to build the wall and get all iligal immigrants out on day one , expect he is out to break Gods record of making the world in six days

Lots of them were racist and sexist.
What do you think are the real reasons?
You say that it saves us having to sort out the real reasons, but those who voted for Trump or Brexit are ashamed to tell us the real reasons.
Did you vote Brexit?
What was your real reason?

At least we can be thankful that Trump is not British.

Whatever we think personally, America voted for Trump, the way some of you are talking it is as if you don't believe it. That is what the country wanted. Brexit keeps coming up, as if the majority if people didn't for for that either, it is like flogging a dead horse. To keep suggesting that the votes were rascist, everything gets blamed for that, an easy target, it saves looking at the real reasons I suppose, having just one thing to blame instead of trying to sort the real reason out.

QT is going to be interesting tonight, from Southend-on-Sea, a strong UKIP area, I believe.

According to this, Trump will not be able to do what he wants with the economy.

www.taxresearch.org.uk/Blog/2016/11/10/is-trump-really-going-to-rely-on-laffer-to-get-his-cuts-through/

Every cut he makes in taxes will have to be balanced by savings in spending. He can't promise all the spending on infrastructure while cutting corporation tax to 10%

I think there are c'lebs who over estimate their influence during political campaigning, Madonna positvely scrapped the bottom of the barrel with what she was offering it's about time she acquired some dignity. Similarly Eddie Izzard proved to be a preposterous contestant on QT. These people do not resonate with the public in the way they think they do, whilst they are good in their chosen fields, I think they should learn that many do not give a damn about their political leanings.

That's what a retired American CIA bod said jess He gets his first briefing the day after the election which is usually a cold wake up call.

It is indeed a disaster for climate change if he instigates a resurgence of mining coal and burning it in power stations. Along with his assertion that he wants to undo the latest treaty on climate change. But who knows what he really believes. He's obviously been rushing around the country saying exactly what he thinks people want to hear. Wouldn't it be fascinating to be a fly on the ceiling of the oval office etc once reality kicks in.

um, no suggestions anniebach
I thought when he said his job was done he would go back to be something in the City.

Anniebach just read the second bit of your post, now I am choking into my
it has brought on a coughing fit

I can see the kitten heels coming off and causing some damage to that barnet

I'm particularly depressed at the lack of comment on Trump's attitude towards climate change. What good is anything really if we haven't got clean air, clean water, some space to relax in?

Revolution = the existence of a wheel = someone has to be at the top. Power corrupts?

When does Farage have time to earn his MEP salary?

Jalima, how else do we get shot of Farage? Seems he is going to America this week to advise Trump how to deal with May , hope he reminds Trump to shake hands not grab her boobs

No problem with accepting a democratic vote, Jalima. What concerns me more is that the checks and balances of a true democracy aren't working.

what do we do to solve it

Well, for a start we have to accept a democratic vote whether or not we like it.
Otherwise we have a dictatorship.

Rely on the checks and balances that are there in a democratic system of government.

There's nothing superior about people such as Madonna and Cher, so why do people buy tabloids and magazines to read about them and see pictures of their 'toned bodies' and make them rich in the first place?

I assume you mean ordinary white folk, niggly.

Many blacks in America have felt disenfranchised and in despair for centuries, yet only 8% of them (according to exit polls) voted for Trump. Apparently, the number of black women was even lower - about 4%.

The situation is more complicated than that. I honestly don't see Trump as a class warrior and hero of the downtrodden.

The article bags linked has this quote from another article “both Brexit and Trumpism are the very, very wrong answers to legitimate questions that urban elites have refused to ask for 30 years.”

We've had rising inequality for years and it was inevitable something would happen. In crises like this, people seem to go two ways - socialism/communism or protectionism/isolation/ looking after 'number one' (resulting in racism and misogyny, etc).

So we know the problem (or should do by now), what do we do to solve it?

What we've seen to date is his electioneering. Pretty grim but not a reliable reflection of what's to come - we just don't know. Simon Jenkins' take:

www.theguardian.com/commentisfree/2016/nov/10/donald-trump-will-not-go-unchallenged

Being so shocked at losing?! Surely that's the epitome of arrogance?!
No you're not exactly getting what you deserve, but certainly what you've unwittingly it would appear, have asked for by ignoring people who feel disenfranchised and in despair. FGS who cares what Madonna and Cher el al think?! What's so superior about the rich and famous that ordinary folk have to treat and revere them as their betters? A lot of people are sick of that as events have proved.

anniebach Elegran

No!
He needs to be reined in, not made worse
I think he went to the same financial school as Philip Green though.

I agree Luckygirl, but do think racism played a big part in Brexit , not all who voted out were racist but many were

People fear immigration and it is understandable