Monday, August 1, 2011

Reaganomics is still with us

I, speaking for myself, had thought that Reaganomics had gone the way of the Cold War. Meaning, gone.
However, I have heard recently (and correct me if I am wrong) that before Reagan, the American government taxed the rich and the corporations pretty heavily, and that Reaganomics did away with that. I have further been given to understand that our current tax system has nowhere near approached the pre-Reagan balance (I am sure "balance" is a debatable term to use here); that the top income earners in the U.S. have a relatively weak tax burden, a heritage of the Reagan administration.

Well, I thought it was interesting.

Another thought: I can't see how the massive bailouts of the banks and such went through. I have heard a few people blame all the foreign interventions (wars) for the massive expenditures this country has had. Well, I'd be curious to know what was more expensive, the Iraq war or the idiotic "to big to fail" bailouts.

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