BLAME REAGAN
- Blame Reagan, Article by Asya Ardawatia, TPT Staff Writer, April 30, 2023. Ed. High School Democrats of America
Almost every major political and economic issue in America can be traced back to Reagan.
From increasing income inequality to the rise of Trumpism, Reagans policies in the 1980s lie at the root of these issues. Before I discuss how the 40th U.S President was a direct cause of the current political atmosphere, it is important to understand Reaganomics and its impact on the American people. Reagans tax cuts and reduction of tax brackets directly enabled the ultra-rich to hoard the majority of Americas wealth. By slashing the tax rate for top-income earners from 70% to 28% and corporate tax rates from 50% to almost nothing, the rich became richer.
The rationale given for these tax cuts stemmed from an idea called trickle down economics'' where, in theory, the rich would pass these benefits down to the poor by improving working conditions, increasing wages, or creating jobs. These millionaires, who just saved more than half in taxes, were not incentivized to create jobs or help the middle class; instead they could now fund think tanks, hire economists that advocated for this ideology, influence politicians, and utilize their wealth to shape nationwide policy. This created an endless cycle where the opulent has hoarded their wealth and spread their influence, socially and politically, to the detriment of the middle class and the poor.
In turn, income inequality increased, economic mobility declined, and the national debt tripled from $995 billion to $2.9 trillion. - SEE Graph, Wage Stagnation.
The impact Reagan had on the wages of the working class in America. Before Reagans institution, under FDRs New Deal, capitalism was heavily regulated and the nations largest employer was General Motors, who paid their workers $50 an hour (adjusted for inflation). This allowed for the middle class to expand, and workers had money to afford basic necessities, start a family, and buy a home. After Reagans policies, Walmart is the largest employer but only pays their employees an average of $10 an hour, only slightly above the federal minimum wage of $7.25. Income levels for the top 1% in America have skyrocketed while the wages for the middle and lower classes have remained practically stagnant.
The GOP is associated with union-busting, but this was not always the case. Reagan was a union man, a former member of the Screen Actors Guild (SAG). In 1980, he asked PATCO, the air-traffic controller union, to endorse him in the election. In return, he promised to support their union.
When PATCO went on strike soon after his presidency began, he threatened to fire them if they failed to report within 48 hrs.
On Aug. 5, 1981, Reagan fired 11,345 air-traffic controllers. This sent a shockwave throughout the nation, undermining the importance of unions. The decline of unions led to a redistribution of income, moving wealth from the lower class exclusively to the upper class. It exacerbated economic inequality and heightened class tensions. - - Medical debt. Reagans admin. laid the groundwork for todays exorbitant medical costs, the reason 23 mill Americans are drowning in medical debt (almost $195 bill).. He ended the non-profit requirements of hospitals & insurance companies in several states, allowing the rise of "managed care." Instead of govt. regulations, the healthcare industry was heavily deregulated, allowing the capitalistic version of the medical industry to rise. For-profit companies which became common in health care, were, for the 1st time, focused on profit maximization, not cost control...
- Read More, https://hsdems.org/the-progressive-teen/2023/4/30/blame-reagan
True Blue American
(18,118 posts)That B cowboy started it all. He battled senility and Alzheimers. We are facing the same now.
appalachiablue
(42,649 posts)much work to do.
KS Toronado
(19,156 posts)appalachiablue
(42,649 posts)MichMan
(12,916 posts)Polybius
(17,152 posts)I wonder if that had anything to do with it.
appalachiablue
(42,649 posts)appalachiablue
(42,649 posts)underpants
(185,877 posts)Both were horribly disastrous.
appalachiablue
(42,649 posts)mjvpi
(1,536 posts)I had come out of high school reading Plato to B.F. Skinner to Buckminster Fuller. Amory Luvins "Soft Energy Paths Towards a Durable Peace was my personal favorite. Systems theory. Interdependence. Synergy vs entropy. President Carter was listening to people like Amory Luvins. Then came Reagan. Greed was good. Government was bad. I watched my country destroy democracies in South America. Union busting. I had watched the birth of the Heritage Foundation. Their vision became Reagans policies. It blew my mind.
Donald Trump was, hopefully wont be again, the logical conclusion of that philosophy. The Virtue of Selfishness my ass.
My adult children finally realize that their dad yelling its fucking Reagans for their whole lifetime wasnt a sign of mental illness.
Ive been sober for 40 years.
EverHopeful
(348 posts)Way back in my youth, he was Governor of California. A friend told me the reason he was working to weaken the UC and CSU systems was that an uneducated citizenry was easier to control.
I didn't know the phrase "Tinfoil hat" back then but I definitely thought she was loony.
Boy, was I wrong. She saw clearly who he was, and then he took his evil national, and international
When John Bolton's recent book came out, I tried to read it. Didn't want to be some closed-minded MEGAt who only listened to those I agree with but when I got to the part where he said Reagan was the best President ever, I couldn't go on.
At my age, I think it's common to look back on things we regret. If asked, i always say, "My biggest regret is not emigrating to Canada when Reagan was elected like I'd said I would." Back then I was young enough and had marketable skills and I could have gotten in.
appalachiablue
(42,649 posts)12 year regime initiated damage to this country that has grown for decades.
Congrats on your progress, and glad your children finally saw the light, the ugly truth.
The writer of this article did a superb job but I didn't notice any mention of the AIDS crisis.
Dutch's team avoided acknowledging the disease and rising cases and that caused research and treatment to be delayed for years. This cruelty caused much suffering and cost lives, including one in my family and 2 college friends.
Reagan's team laughed believing AIDS was only affecting the 'homos, drug users and Hatians.' It took Rock Hudson going public, bless him and others, and strong advocates like Elizabeth Taylor who fought to bring attention to the growing plague.
chouchou
(1,184 posts)appalachiablue
(42,649 posts)dark picture, esp with the severe impacts of climate change and automation coming soon.
SeanHG
(62 posts)Friedman. He convinced Corporations that their primary raison d'etre was "Shareholder value". To hell with the relationships with their customers, their employees and their communities. Greed was their all-encompassing goal.
Fuk Reagan, and fuk Friedman. May they both rot in hell.
appalachiablue
(42,649 posts)who promoted anti society, bogus 'free market' ideology in favor of selfishness, greed and inequality.
The result is a shrinking middle class and a large, struggling working class that is underpaid, undereducated and can't afford housing, medical care and basic essentials. The Gilded Age, Dicken's era poverty and misery redux.
BigmanPigman
(52,133 posts)When he was shot I was glad and so were all my freshman college roommates. When John Lennon was shot we cried, when Reagun was shot we rejoiced. We were only 18 but we knew Reagun was evil to the core.
rubbersole
(8,221 posts)The CEO of Merrill Lynch, Don Regan, became his chief of staff. 'Open for business.' Top marginal tax rate for the wealthy went from 70% to 25%. The beginning of the greatest wealth transfer in human history. Still going strong.
SleeplessinSoCal
(9,572 posts)Turning it into the misinformation age is likely due to the surge of blood thirsty young Republicans.
William769
(55,783 posts)Faux pas
(15,149 posts)He was a power hungry gigantic asshole. He ruined California when he was governor, I had trouble believing that nobody remembered that when he was running for president.