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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 371.65-1.1%Nov 17 4:00 PM EST
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To: John Vosilla who wrote (112675)7/19/2015 2:05:53 PM
From: Elroy Jetson  Read Replies (3) of 217847
 
Ronald Reagan was the mystery ingredient which put debt back into fashion, after paying down the debt from WW-II. Reagan also removed the tax burden from the top 1% which had caused our society to remain stuck in a place of more equal incomes and more equal asset distribution.

Today working people pay 7.5% up to 45% of their income in taxes (15% in payroll taxes plus 10% to 30% in income taxes, with the very lowest wage earners receiving a 50% rebate of their 15% wage tax). While wealthy individuals like Mitt Romney pay a mere 13% in total taxes.

With ordinary working Americans paying much higher taxes than the wealthy it's hardly a surprise that the distribution of wealth and income is now heavily skewed toward the top 1%.

Reagan also freed ordinary working people from the grip of Unions which forced much higher wages on them. Today ordinary working people can proudly work for minimum wage.

Ronald Reagan, and the people who ran him, are in so many ways the very creator of our modern age. And now with the "Citizens United"decision, money is now enshrined as free speech, so things are unlikely to change back to pre-1980 America.

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