Failures of Reaganomics

[The Rabbi]

Over the last 30 years taxes on the rich have been lowered again and again, and this has led to the transfer of trillions of dollars in wealth from the middle class to the rich to the point that the top 1% now get 23% of the total income in America.

Raise the minimum wage and tax capital gains as income.

Actually revenue from high income earners has climbed over the last 30 years, from middle income earners it has gone down.
If you want to soak the rich, lower cap gains taxes.

 

[theHawk]

Reagan's "failure" were far better for America than Obama's "success."

Mistakes were made, no doubt, but he was a great leader and built a real foundation for the country to thrive on for a decade after he left office.

Obama is a two-term Carter, and the economic numbers alone prove it.

Gotta love the revisionist progressive history on this thread. If standing up to the Soviet Empire was so easy, then why can't Obama stand up to little ole' Putin without looking like a dunce?

 

[chikenwing]

Earth to planet Protectionist, the theory was that less of a burden on the marketplace would help the marketplace (hard to swallow, I know) and that would stimulate growth, which means more moolah coming in. Everything I've seen says it worked and the opposite has the opposite effect.

Because everything you've seen is Reaganist propaganda, shown and repeated so often, it doesn't seem like propaganda, but it is. Kind of like the 2004 election year BS we got from the Bush crowd, about jobs being created. HA. What a joke that was.
Explanation available on request.

What brings more money in to the govt, is bringing more money into the govt (AKA tax increases - with loophole closure)

You've bought into the Democratic propaganda. Your mind is controlled by others.

Its amazing,the lefts golden boy JFK did just what they are saying can't and doesn't work.
All the numbers are in black and white for all the world to see,if one is willing.

 

[Spoonman]

Those who praise Ronald Reagan as a good president rarely, if ever mention his numerous (and very serious) failures. Rarely do we hear from them any mention of immigration AMNESTY, Briggs Inititative, Iran-Contra, the Lebanon Marine barracks fiasco, or the worst job growth and GDP growths since 1950.

To boot, the combination of significant tax cuts and a massive increase in Cold War related defense spending 91981-1988) resulted in large budget deficits, an expansion in the U.S. trade deficit, as well as the stock market crash of 1987, while also contributing to the Savings and Loan crisis. The ultimate cost of the Savings and Loan crisis is estimated to have totaled around $150 billion, about $125 billion of which was consequently and directly subsidized by the U.S. government. John Kenneth Galbraith called it "the largest and costliest venture in public misfeasance, malfeasance and larceny of all time."

In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $997 billion to $2.85 trillion, and the United States moved from being the world's largest international creditor to the world's largest debtor nation. Reagan described the new debt as the "greatest disappointment" of his presidency.

Trickle-Down Economics: Four Reasons Why It Just Doesn't Work | United for a Fair Economy

FDIC: The S&L Crisis: A Chrono-Bibliography

John Kenneth Galbraith, The Culture of Contentment. (Houghton Mifflin, 1992).

http://www.treasurydirect.gov/govt/r...ebt_histo4.htm

http://www.washingtonpost.com/wp-dyn...-2004Jun8.html

Ronald Reagan: The Presidential Portfolio: History as Told through the Collection of the Ronald Reagan Library and Museum: Lou Cannon: 9781891620843: Amazon.com: Books (see page 128)

well yea, except that reagan ended the cold war. of course obama is now doing his best to restart it it seems.

if reganomics is so bad, why has no democrat in their 16 years of control since regan reversed his economic policies?

 

[Spoonman]

Over the last 30 years taxes on the rich have been lowered again and again, and this has led to the transfer of trillions of dollars in wealth from the middle class to the rich to the point that the top 1% now get 23% of the total income in America.

Raise the minimum wage and tax capital gains as income.

total bullshit, Geroge Bush Senior increased taxes on the rich significantly.

 

[birddog]

Reagan lowered taxes with a promise by the democrat congress that they would not increase spending. They lied and significantly increased spending. The net benefit of "trickle down" was diminished due to the lies of the democrats. I remember.

 

[protectionist]

Those who praise Ronald Reagan as a good president rarely, if ever mention his numerous (and very serious) failures. Rarely do we hear from them any mention of immigration AMNESTY, Briggs Inititative, Iran-Contra, the Lebanon Marine barracks fiasco, or the worst job growth and GDP growths since 1950.

To boot, the combination of significant tax cuts and a massive increase in Cold War related defense spending 91981-1988) resulted in large budget deficits, an expansion in the U.S. trade deficit, as well as the stock market crash of 1987, while also contributing to the Savings and Loan crisis. The ultimate cost of the Savings and Loan crisis is estimated to have totaled around $150 billion, about $125 billion of which was consequently and directly subsidized by the U.S. government. John Kenneth Galbraith called it "the largest and costliest venture in public misfeasance, malfeasance and larceny of all time."

In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $997 billion to $2.85 trillion, and the United States moved from being the world's largest international creditor to the world's largest debtor nation. Reagan described the new debt as the "greatest disappointment" of his presidency.

Trickle-Down Economics: Four Reasons Why It Just Doesn't Work | United for a Fair Economy

FDIC: The S&L Crisis: A Chrono-Bibliography

John Kenneth Galbraith, The Culture of Contentment. (Houghton Mifflin, 1992).

http://www.treasurydirect.gov/govt/r...ebt_histo4.htm

http://www.washingtonpost.com/wp-dyn...-2004Jun8.html

Ronald Reagan: The Presidential Portfolio: History as Told through the Collection of the Ronald Reagan Library and Museum: Lou Cannon: 9781891620843: Amazon.com: Books (see page 128)

well yea, except that reagan ended the cold war. of course obama is now doing his best to restart it it seems.

if reganomics is so bad, why has no democrat in their 16 years of control since regan reversed his economic policies?

1. Reagan happened to be president when the Soviet Union imploded from decades of overspending on military and space. We can "credit" him with having good timing.

2. One Democrat did reverse Reagan's policies. In 1988, Reagan lowered the top tax bracket indiv. tax from 38.5% to 28%. Clinton raised that tax to 39.6%, and had an economically successful administration. I suspect with Obama, the Republican H of R might have something to do with it.

 

[protectionist]

Reagan's "failure" were far better for America than Obama's "success."

Mistakes were made, no doubt, but he was a great leader and built a real foundation for the country to thrive on for a decade after he left office.

Obama is a two-term Carter, and the economic numbers alone prove it.

Gotta love the revisionist progressive history on this thread. If standing up to the Soviet Empire was so easy, then why can't Obama stand up to little ole' Putin without looking like a dunce?

A "great leader" doesn't oppose legislation to keep queers out of classrooms.

A "great leader" doesn't give amnesty to 3 million illegal alien invaders.

A "great leader" doesn't make deals with Muslim terrorists in Iran, or cut & run from other Muslim terrorists in Lebanon.

A "great leader" doesn't make tax policy that deprives America from maintaining a strong National Security in immigration, FBI, CIA, DEA, prison system, local law enforcements, etc.

 

[protectionist]

Because everything you've seen is Reaganist propaganda, shown and repeated so often, it doesn't seem like propaganda, but it is. Kind of like the 2004 election year BS we got from the Bush crowd, about jobs being created. HA. What a joke that was.
Explanation available on request.

What brings more money in to the govt, is bringing more money into the govt (AKA tax increases - with loophole closure)

You've bought into the Democratic propaganda. Your mind is controlled by others.

Its amazing,the lefts golden boy JFK did just what they are saying can't and doesn't work.
All the numbers are in black and white for all the world to see,if one is willing.

Which "numbers" are you referring to ?

 

[protectionist]

You've bought into the Democratic propaganda. Your mind is controlled by others.

FALSE! I am a registered Independent, and I wouldn't be caught dead voting Democrat. My politics began in the 1950s, during the Republican administration of the guy in my avatar, when the top (individual) tax was 91-92%. This was in the interest of having a BIG, STRONG Govt, with a BIG STRONG National Defense, including military, Immigration control, FBI, CIA, DEA, prison system, local police, etc, not the small weak govt advocated by Reagan, that allows all these to waste away.

The tax policies of the REAL National Security minded Conservatives of the 1950s is where my mind is (THEN & NOW).. And please don't give me that tired, aged rap about "effective" tax rates. We've heard it 1000 times and refuted it that many as well.

The explanation for tax rates has not been refuted. Effective rates were probably lower than today.
The 1950s also saw most markets with at most 3 TV stations. Maybe we should go back to that?

If Effective rates were lower than today, it's because of unscrupulpous tax-dodging with shelters, loopholes, and conjobs. Maybe we should go back to THAT ? All that needs to be is for the old rates to be restored without the loopholes, and as new ones arise, close them.. Maybe if the Congress did their job that way, as the American people want them to, they wouldn't have had a single digit (9%) approval rate recently.

As for the 3 TV stations, what does that have to do with this ? That's just a reflection of the TV industry having been in it's infancy, and had not matured yet. Kind of like beer cans that had to be opened with can openers, instead of pop tops.

 

[The Rabbi]

Those who praise Ronald Reagan as a good president rarely, if ever mention his numerous (and very serious) failures. Rarely do we hear from them any mention of immigration AMNESTY, Briggs Inititative, Iran-Contra, the Lebanon Marine barracks fiasco, or the worst job growth and GDP growths since 1950.

To boot, the combination of significant tax cuts and a massive increase in Cold War related defense spending 91981-1988) resulted in large budget deficits, an expansion in the U.S. trade deficit, as well as the stock market crash of 1987, while also contributing to the Savings and Loan crisis. The ultimate cost of the Savings and Loan crisis is estimated to have totaled around $150 billion, about $125 billion of which was consequently and directly subsidized by the U.S. government. John Kenneth Galbraith called it "the largest and costliest venture in public misfeasance, malfeasance and larceny of all time."

In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $997 billion to $2.85 trillion, and the United States moved from being the world's largest international creditor to the world's largest debtor nation. Reagan described the new debt as the "greatest disappointment" of his presidency.

Trickle-Down Economics: Four Reasons Why It Just Doesn't Work | United for a Fair Economy

FDIC: The S&L Crisis: A Chrono-Bibliography

John Kenneth Galbraith, The Culture of Contentment. (Houghton Mifflin, 1992).

http://www.treasurydirect.gov/govt/r...ebt_histo4.htm

http://www.washingtonpost.com/wp-dyn...-2004Jun8.html

Ronald Reagan: The Presidential Portfolio: History as Told through the Collection of the Ronald Reagan Library and Museum: Lou Cannon: 9781891620843: Amazon.com: Books (see page 128)

well yea, except that reagan ended the cold war. of course obama is now doing his best to restart it it seems.

if reganomics is so bad, why has no democrat in their 16 years of control since regan reversed his economic policies?

1. Reagan happened to be president when the Soviet Union imploded from decades of overspending on military and space. We can "credit" him with having good timing.

2. One Democrat did reverse Reagan's policies. In 1988, Reagan lowered the top tax bracket indiv. tax from 38.5% to 28%. Clinton raised that tax to 39.6%, and had an economically successful administration. I suspect with Obama, the Republican H of R might have something to do with it.

The Soviet Union collapsed after Reagan, but because of his policies. So wrong on 1.
Clinton's policies of raising taxes led to the recession of 2000. So it was a failure. Wrong on 2.
Two points, two wrong answers. Your hatred and ignorance blind you to the truth.

 

[CrusaderFrank]

Progressives are convinced that people are better off living under the oppression of Soviet Communism.

Sent from smartphone using my wits and Taptalk

 

[Iceweasel]

Progressives are convinced that people are better off living under the oppression of Soviet Communism.

Progressives are neo-commies. In their world the Berlin wall was to keep West Germans from fleeing to the East.

 

[HelenaHandbag]

Over the last 30 years taxes on the rich have been lowered again and again, and this has led to the transfer of trillions of dollars in wealth from the middle class to the rich to the point that the top 1% now get 23% of the total income in America.

Raise the minimum wage and tax capital gains as income.

That is an bizarre take.

How does it happen that people keeping what they have earned takes away from anyone else?

 

[S.J.]

Over the last 30 years taxes on the rich have been lowered again and again, and this has led to the transfer of trillions of dollars in wealth from the middle class to the rich to the point that the top 1% now get 23% of the total income in America.

Raise the minimum wage and tax capital gains as income.

That is an bizarre take.

How does it happen that people keeping what they have earned takes away from anyone else?

It gives the Democrats less money to redistribute (buy votes).

 

[protectionist]

progressives are convinced that people are better off living under the oppression of soviet communism.

Sent from smartphone using my wits and taptalk

off topic!!

 

[protectionist]

progressives are convinced that people are better off living under the oppression of soviet communism.

progressives are neo-commies. In their world the berlin wall was to keep west germans from fleeing to the east.

off topic!!

 

[Listening]

Those who praise Ronald Reagan as a good president rarely, if ever mention his numerous (and very serious) failures. Rarely do we hear from them any mention of immigration AMNESTY, Briggs Inititative, Iran-Contra, the Lebanon Marine barracks fiasco, or the worst job growth and GDP growths since 1950.

To boot, the combination of significant tax cuts and a massive increase in Cold War related defense spending 91981-1988) resulted in large budget deficits, an expansion in the U.S. trade deficit, as well as the stock market crash of 1987, while also contributing to the Savings and Loan crisis. The ultimate cost of the Savings and Loan crisis is estimated to have totaled around $150 billion, about $125 billion of which was consequently and directly subsidized by the U.S. government. John Kenneth Galbraith called it "the largest and costliest venture in public misfeasance, malfeasance and larceny of all time."

In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $997 billion to $2.85 trillion, and the United States moved from being the world's largest international creditor to the world's largest debtor nation. Reagan described the new debt as the "greatest disappointment" of his presidency.

Trickle-Down Economics: Four Reasons Why It Just Doesn't Work | United for a Fair Economy

FDIC: The S&L Crisis: A Chrono-Bibliography

John Kenneth Galbraith, The Culture of Contentment. (Houghton Mifflin, 1992).

http://www.treasurydirect.gov/govt/r...ebt_histo4.htm

http://www.washingtonpost.com/wp-dyn...-2004Jun8.html

Ronald Reagan: The Presidential Portfolio: History as Told through the Collection of the Ronald Reagan Library and Museum: Lou Cannon: 9781891620843: Amazon.com: Books (see page 128)

Reagan had little to do with the market crash of 1987.

Mostly at the time it was reported to be programmed trading that developed momentum and things just tanked. Market psychology was also tied into it.

The market recovered quickly.

This is just another example of the bull the left will throw in an effort to somehow make itself look smart.

 

[bedowin62]

the silly, excuse-making and pathetic Left cry that the tiny Tea Party or the Republican MINORITY OF BOTH CHAMBERS OF CONGRESS for all of obama's first 2 years was still somehow able to "obstruct" him. but the 8-year Dem House majorty was helpless in the Reagan years

losers; stop crying

 

[bedowin62]

huge numbers of Democrats under Reagan voted for his policies; that's why they are called Reagan Democrats


when will you left-wing losers stop crying you were victims of things your Jackass Partyu went along willingly with?