Winston
Platinum Member
But Reagan really was the turning point. The whole tax system began to change. And it wasn't just taxes. Stock buybacks, illegal prior to Reagan, market manipulation, like Du Huh. But with Reagan, hell yeah, manipulate that market, inflate your compensation package, and oh yeah, can we put you down for a table at our next fundraising event.
Prior to Reagan, Well if your accounting firm certified the records of a public company, and they turned out to be bogus, Like, say Enron. the loss of market cap resulting in the exposure, the restatement of earnings, that was on you, all of it. Reagan, ah, give em a break. Just a tiny percentage will be enough
Before Reagan, you could count the number of public companies restating their earnings each year on your hands. After the liability change, it was hundreds.
It was dozens of seemingly mundane, insignificant in themselves appearing changes in the taxcode, but they were precise, effective, masterfully drawn.
Every year, doesn't make a damn what party controls Congress, what party has the White House, split, unified, it don't make a shit. The rich get richer, the poor get poorer. I mean damn, even during a global pandemic. One time, one flippin time, in the last, at least forty years, the poor got richer and the rich got poorer. Clinton was president, it was when he eliminated the 30 year Treasury, swapped them out for tens. Let that sink in for a moment.
