How’s Reaganomics Working Out For You?

Shepard Fairey propaganda posters

This one’s for you, edray!

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10 Responses to How’s Reaganomics Working Out For You?

  1. Arlen Grossman, ask anybody who grew up during the time of Ronald Reagan how things were back then. You might get different answers.

    • You are right, Jeffrey. Conservatives will say everything was wonderful. Liberals will say the opposite.

      • Arlen Grossman, unless I am mistaken, I think that the top marginal tax rate under Ronald Reagan was 50%. I know what a marginal tax rate is, however, with the various deductions and credits, people pay a lower effective tax rate. We will disagree on taxes, which is fine, however, I will do the best I can to be civil. Quite honestly, despite our differences, you seem to be more well thought-out in how you present your opinions on political issues in my view than a lot of people’s whose posts I have read. One thing we both agree on is that we like David Pakman. I disagree with his claims that lower tax rates are bad for the economy. However, to be fair, he does make a valid point that if taxes are too low, there is no incentive to invest money. Now, I am going to argue this matter from 2 angles: 1: On the one hand, if you sit on the money and don’t invest, you would not generate any return on the investment which would earn you more money in the long run. 2: Even if we had a flat marginal rate, a progressive effective rate still meets the demand that wealthy people be paying a higher tax rate.

  2. Arlen Grossman, tax rates have nothing to do with whether or not people are homeless. Defaulting on a mortgage is part of the problem. The national debt is due to the spending. So you are utilizing false arguments.

    • Brook242 says:

      With all the money going to the rich, the poor got poorer. With wages stagnant and the cost of housing going up, many people were swept into poverty. The national debt is due to spending too much, but also not having sufficient revenue from taxes. Our economy did its best when tax rates on the wealthy were higher.

  3. Hardly, Jeffrey. Our country started to go downhill a little before Reagan, but accelerated quickly under Reagan. In my opinion, he did a terrible job and his ideas live on, which is a shame.

    • Arlen Grossman, if we were to have Ronald Reagan’s tax plan, unless I am remembering something inaccurately, the top tax rate he had was 50%. Personally, even if I was in a 50% bracket, I would not beef about it if I had more of a say so regarding where the money was being spent.

  4. Under Ronald Reagan, we were so much better off.

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