Reagan is not great

[FortuneTeller]

Liberals. Jumping all over a dead man. Like usual. Do they know that Lincoln wanted to ship the blacks back to Africa? Probably not. Too dumb to know something like that.

 

[CaptainObvious]

You are painting with too broad a brush. The EPA is strangling the economy by pushing radical carbon regulations that are grounded in AGW religion. I can't begin to list all the overly intrusive regulations,e tc from departments like the Education Department or Labor Department that are designed to push a far left radical social agenda.

The populists who support Trump do not object to reasonable consumer protection. We know we can't trust bastards like Goldman Sachs or big corporations. Of course, most of them support Hillary, so you have to wonder what they know that her voters don't.

My post was more directed at the financial markets and while I don't entirely disagree with your position on out of control EPA regulations, we still have a huge problem with jobs being lost to the slave labor countries. Thinking that lower corporate taxes will offset this is a fantasy. Cost of labor is the primary reason jobs are lost and taxes/regulation are used as distractions from this reality. Trump has stated he has a plan to bring these jobs back, but the "plan" isn't all that detailed at the moment. Can he pull it off? I for one am doubtful but willing to see what happens under a Trump administration. The alternative is a known and devout open borders globalist, and that takes us further down the drain. Trump is a crap shoot for sure, but Clinton is a total bust out. Wishing for some other real choice is just that, wishful thinking.

 

[FortuneTeller]

Nitro needs to put down his bong. It's messing up his head.

 

[jem]

you have posted it that crap and it has been debunked.
We have brought in over 40 million new people since Reagan. more than 50 percent of that group is on govt assistance and most do not pay any income taxes at all.

Our tax paying class has to support that group... with lower wages, higher taxes and massive inflation.

If reagan had not lowered taxes on most tax paying americans... we we would be far worse off. At least Reagan's tax break ushered in almost 2 decades of economic expansion.

If you wish to fix wealth distribution... the answer is to eliminate taxes on the middle class.

I have posted extensively in ET forums on how Reagans supply-side economics which resulted in a dramatic compression of tax rates -- at one point nearly eliminating progressivity in our income tax code -- has been a major factor in wealth redistribution in the U.S.. The effect of Reagan era compression of tax rates, combined with taxing unearned income at lower rates than earned, compounded over many years, has resulted in the redistribution of wealth from the middle class upward to the already wealthy. In no small measure, this has been responsible for the lopsided wealth distribution we see in today's America. Ronald Reagan, the "Great Wealth Redistributor".

Reagan meant well but his policies proved disastrous for the long term. And amazingly, we still have a large fraction of the Republican party today advocating supply-side economics, despite Reagan's own eventual recognition of the failure of supply-side economics. It turns out that you can't help the middle class by giving their money to the rich. Who would have thought!

 

[piezoe]

The current Keynesian economic theory also has some majors fundamental flaws in the theory.

Yes, of course, Keynes himself recognized potential pitfalls. This is an especially cogent critique.

https://mises.org/library/critical-flaw-keyness-system

 

[piezoe]

you have posted it that crap and it has been debunked.
We have brought in over 40 million new people since Reagan. more than 50 percent of that group is on govt assistance and most do not pay any income taxes at all.

Our tax paying class has to support that group... with lower wages, higher taxes and massive inflation.

If reagan had not lowered taxes on most tax paying americans... we we would be far worse off. At least Reagan's tax break ushered in almost 2 decades of economic expansion.

If you wish to fix wealth distribution... the answer is to eliminate taxes on the middle class.

But what if you are wrong Jem? And the current difficulties are less due to immigrant entries into the labor force and more due to the inability of labor and education to keep up with rapid technological change affecting commerce.

 

[Scataphagos]

If you wish to fix wealth distribution.

The way to "fix" wealth redistribution is to ABOLISH IT!

Nobody deserves anything except what they earn for themselves. If somebody "has some and you don't".. rather than jealously wanting to "take his for yourself", aspire to make it on your own to be his equal or greater. How about that??

 

[jem]

I agree but these lefties who think the govt should be able to take all your money via taxes, need to be spoon fed.

even they would have to admit if a group has less than another it makes no sense to tax the group which has less.

therefore we should eliminate taxes on the 99.8% to fix wealth distribution...

The way to "fix" wealth redistribution is to ABOLISH IT!

Nobody deserves anything except what they earn for themselves. If somebody "has some and you don't".. rather than jealously wanting to "take his for yourself", aspire to make it on your own to be his equal or greater. How about that??

 

[AAAintheBeltway]

But what if you are wrong Jem? And the current difficulties are less due to immigrant entries into the labor force and more due to the inability of labor and education to keep up with rapid technological change affecting commerce.

You have this ability to blind yourself to data that doesn't fit your template. Do you think bringing in 50 million low skill immigrants, most of whom end up on welfare or in prison is a good idea? Other than helping rich people hire gardeners and nannies, how is it helping us?

The idea that education solves everything is great, except there are equally or better educated tech workers all over the world who will work for a lot less.

 

[jem]

of course there are other factors we are in a dynamic economy.

but there is no rational basis for blaming our wealth distribution status on Reagan's tax cuts. Not with the amount of immigrants needing govt assistance - we have brought in over the last 30 years. So please stop it with that rant of yours about reagan.

But what if you are wrong Jem? And the current difficulties are less due to immigrant entries into the labor force and more due to the inability of labor and education to keep up with rapid technological change affecting commerce.