<They call it Raygunomics. Some also call it "Trickle down".<
Just like I said.. The 99ers write their checks to transfer their wealth from them to the 1%'ers every month by their own will and decisions.. Hard to Demonize the Corporations and the GOP.. But, you will try your best to avoid the facts and do it anyway.
Our National debt increased 2.6Triillion under Reagan over 8 years.
Our National debt increased the same amount in only 2 years between 2010 and 2012
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<You prolly have me mixed up with somebody else. I only use credit cards because the gas pump doesn't take $20 bills.<
But, the attendant inside the station takes $20 bills.. Why don't you stop using "automated" gas pumps and support the 99% and go inside and pay. Better yet, why don't you find a "Full Service" station so you can support American Jobs and Workers? Let me guess.. Don't want to pay an extra 20cents a gallon so someone has a job? Typical...
<Depends on the truth. The truth that the corps and the rich have been getting a cheap ride on the backs of the rest of us since Raygun trickled down on our heads doesn't hurt; it pisses me off.<
The Reagan Boom - Greatest Ever
http://www.nytimes.com/1990/01/17/opinion/the-reagan-boom-greatest-ever.html
Almost everyone knows that the greatest depression the U.S. ever had was in the 1930's. It was known as the Great Depression, and its infamy merits a separate section in economics textbooks. But what was its counterpart? When did our greatest economic expansion occur?
We just had it. And it is still expanding, setting new records with each passing month.
We don't know whether historians will call it the Great Expansion of the 1980's or Reagan's Great Expansion, but we do know from official economic statistics that the seven year period from 1982 to 1989 was the greatest, consistent burst of economic activity ever seen in the U.S. In fact, it was the greatest economic expansion the world has ever seen - in any country, at any time.
The two key measures that mark a depression or expansion are jobs and production. Let's look at the records that were set. Creation of jobs. From November 1982, when President Ronald Reagan's new economic program was beginning to take effect, to November 1989, 18.7 million new jobs were created. It was a world record: Never before had so many jobs been created during a comparable time period. The new jobs covered the entire spectrum of work, and more than half of them paid more than $20,000 a year. As total employment grew to 119.5 million, the rate of unemployment fell to slightly over 5 percent, the lowest level in 15 years. Creation of wealth.
The amount of wealth produced during this seven year period was stupendous - some $30 trillion worth of goods and services. Again, it was a world record. Never before had so much wealth been produced during a comparable period. According to a recent study, net asset values - including stocks, bonds and real estate - went up by more than $5 trillion between 1982 and 1989, an increase of roughly 50 percent.
There are other important measures. Steady economic growth. As we begin the decade of the 1990's, we are in our 86th straight month of economic growth - a new record for peacetime, five months longer than the wartime growth of World War II and only 23 months short of the wartime record set during the Vietnam War in the 1960's. Most experts now predict that it will last right through 1990, and perhaps beyond.
Income tax rates, interest rates and inflation.
Under President Reagan, top personal income tax rates were lowered dramatically, from 70 percent to 28 percent. This policy change was the prime force behind the record breaking economic expansion. Interest rates and inflation also fell sharply and, so far, have stayed comfortably low - a further indication of the power and pervasiveness of Mr. Reagan's economic policies. The stock market. Perhaps the key indicator of an economy's booms and busts is the stock market, the bottom line economic report card. And here the record has been striking. During the period from 1970 to 1982, the stock market barely moved. The Standard & Poor's index of 500 stocks inched up about 35 percent during that entire period. But starting in late 1982, just as Reaganomics began to work, the stock market took off like a giant skyrocket. Since then, the Standard & Poor's index has soared, reaching a record high of 360, almost triple what it was in 1982.
There were other consequences of the expansion. Annual Federal spending on public housing and welfare, and on Social Security, Medicare and health all increased by billions of dollars. The poverty rate has fallen steadily since 1983.
When you add up the record of the Reagan years, and the first year of President Bush - during which he has faithfully continued Mr. Reagan's economic policies - the conclusion is clear, inescapable and stunning. We have just witnessed America's Great Expansion.
"Did your tax rate go down last year?"
<Not that I noticed.>
Then you weren't picking up the tab for anyone.
PCSTEL |
