there is a good documentary about Reagan on HBO this month. Talks about how he embodied the vision of the GOP. I know most of yall are conservative or moderate or just dont give a shit. And I know that talking politics is considered not cool. But this is a blog and you dont have to listen to me.......you can just ignore it and not read it.
"Many people say that Ronald Reagan made America strong again. That America had been greatly weakened in the 1960's and 70's and Reagan helped to rebuild American prestige, it's economic power and then put it back on the path to growth. But the real benefits and also the tremendous costs really only became clear more recently. The essence of Reaganomics was a massive transfer of wealth towards the rich and away from the poor. The Reagan administration, by cutting taxes overwhelmingly for the wealthiest and the corporations set in motion arguably the single greatest government led transfer of wealth in history...and in the direction of the top 2% of the country. Ronald Reagan did cut taxes, and of course the U.S. began to have a series of dangerous and increasing budget deficits. Reaganomics is based on this notion of so called "Trickle down Economics" that cutting taxes for the wealthiest Americans benefits everybody. Reagan's policies were obviously very good for relatively wealthy people. The people at the top do well and benefits trickle down; of course there is a bit of a hint in that term, 'trickle', its not 'flood down' economics, its trickle down. It means you don't get a lot coming down to the middle class and to people below that. And that of course is the key theme of the past 30 years, which should be laid upon Reagan's door. Which is, the middle class got squeezed."
---Simon Johnson
Economist, MIT
While I do think the healthcare bill is a bust I will have to agree that rich should pay more taxes, and that we are getting fucked. Seriously if bill gates can talk 40 or worlds richest people in to giving away half of their money when they die, I think they could spare a few percent extra each year. viva la middle class. we should take this shit to the streets like egypt
ReplyDeleteJust tell me when and where Roy.
ReplyDeleteI've never understood how you can call it a "transfer of wealth" when it is going to the people who made the wealth in the first place.
ReplyDeleteI want to be part of the wealthiest 2% one day and I want to keep my money out of the grimey hands of the poor...I'm not really that selfish, but I feel like the people who work hard for their money should be rewarded and not forced to pay for those who do not work hard. I understand the purpose of taxes and I think everyone should pay them, but I'm not getting any more priveleges out of the streets being paved or the library (or anything else taxes pay for) than someone who pays less in taxes. My two cents is if you are going to tell the wealthy they must give x percent above and beyond what the middle class and lower class pay, let them choose who they give it to. The gub'ment has proved they can't handle money, so why not give it a shot. I know I don't feel bad about donating to charities because I choose the charity, not someone else. I don't know if what I said makes sense or is even applicable to this post, but I commented anyway.
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