09/22/2013 06:48 pm ET Updated Nov 22, 2013

GOP 'Economics' Demolished in 167 Words

Republicans claim higher salaries mean lower corporate earnings that crimp jobs and jobs creation. This is usually wrapped in the minimum wage or global competition and applied across the board.

But, you know -- reality: The Census Bureau's Table H-3 says that adjusted for inflation, median incomes have barely budged since 1980 -- $46,961 then, $51,179 now -- and fallen from their 1999 peak of $56,154. In the richest nation on earth, half the country, at least, can't save.

Now if people can't save, no politician can "reform" Social Security and Medicare like Republicans say we have to. Plus, demand for programs like Food Stamps necessarily grows, together with the taxes to pay for them.

And if consumer spending gets squeezed because disposable income gets squeezed, then corporate earnings in a consumer economy get squeezed. Economists call this death spiral a "negative feedback loop".

So Republican policies weaken the economy and actually defeat Republican goals. But Republicans insist the nation must support their policies. Republicans say the alternative is disaster.