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Sun Nov 10, 2019, 11:47 AM

Roll back the Reagan Tax Cuts (pre-Reagan rates)

This article from Thom Hartmann may be old, but it is more relevant now than ever.

"While there's much discussion about letting the Bush tax cuts expire, if we really want our country to recover its financial footing we must do something altogether different. We need to roll back the Reagan tax cuts that took the top marginal rate from above 70% down into the 30% range.

First, though, we have to help Americans realize that "no new taxes" is a mantra that is meaningful to the very rich, but largely irrelevant to average working people.

Only when the current generation re-learns the economic and tax lessons well known by the generation (now dying off) that came of age in the 30s through the 60s, will this become politically possible. Americans need to learn what Europeans know about taxes - they only matter to the rich.

Thus today the uber-rich are spending hundreds of millions to make sure words like "burden" are always associated with the word "tax," and to convince average working people that they should throw out of office any politicians who are willing to raise taxes on the rich.

We have a lot of education to do...and as long as the Right Wing Machine of the uber-rich continues to "lose" (e.g. "invest" millions of dollars a year in their ongoing disinformation campaign, it's going to require all of us reciting the mantra, "Roll back the Reagan tax cuts!"

You can read the rest of it here: https://www.thomhartmann.com/blog/2009/07/great-tax-con-job

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Reply Roll back the Reagan Tax Cuts (pre-Reagan rates) (Original post)
Ferrets are Cool Sunday OP
empedocles Sunday #1
Ferrets are Cool Sunday #2
empedocles Sunday #3

Response to Ferrets are Cool (Original post)

Sun Nov 10, 2019, 12:12 PM

1. Amazing how easily reaganhood got away with his rich giveaways.

Regular folk seemed happy to get tax cuts of a few hundred dollars, while rich got millions more.

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Response to empedocles (Reply #1)

Sun Nov 10, 2019, 02:56 PM

2. So many bad things happened during his presidency, but were overlooked

because he looked "grandfatherly".

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Response to Ferrets are Cool (Reply #2)

Sun Nov 10, 2019, 05:32 PM

3. reagan had, after 2 years anyway, an economy that was recovering pretty well

on its own. Plus, he was low-key, righteously reassuring in his racist, and ant- abortion message uses.

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