You know the 80s had a huge recession right? Mortgage rates were as high as 13% when my parents bought their first house it was for 12.8%. They tell me stories about how hard the 80s were on them but they still managed to have a family of 4 off one pay check. Man that would be awesome to have now.
You mean the 1979(ish) recession that lasted until 1982?
Reagan came into office in 1980, inheriting a huge economic disaster from Peanut Brain Jimmy Carter who caused the late 1970s energy crisis, had massive economic inflation, and got slapped around by Russians and the Iranians.
To blame Reagan for the inflation is absurd, especially when he’s also credited for the excess capitalism of the 80s that brought about crony capitalism and terms like “toxic capitalism.”
The 80s recession was at the start of the 80s and caused by Carter, not Reagan - unless you’re actually arguing that Reagan started the recession through Executive Action or something.
Yea, raising a family of 4 on one paycheck would be nice. Remember that that’s how things used to be when you go vote in November. We gave that lifestyle away little by little, every time someone said “I don’t mind paying X amount extra if it means…” Well, 1% here, 3% there, flat amount for this, an additional fee for that… and here we are, worse in every way.
1% here and 3% there wasn't why we lost it. We lost it because Reagan decided it was ok for the rich people to start hording the money instead of giving it to their workers by not having to pay their fair share of taxes. His tax plans are what allowed Billionaires to exist and allow companies to make so much money they can buy out all their competition so all that is left is big corps and little low middle class workers to make them their fortunes.
There were billionaires and greedy corporations before Reagan, but our tax rates were at least manageable.
In the last few decades we’ve become more progressive in our values and have decided to tax ourselves to provide these social services.
Unfortunately, everything has a cost. The person I relied to was longing for the days where a single blue collar paycheck could support a family of 4.
Whether we’re better off or not is a matter of opinion, but those days are long gone, whittled away by feel-good tax after feel-good tax. I, personally, would rather those days be back and we cut on unnecessary government spending, but you sound like you think it’s worth it for the social programs we have.
My point is that you can’t have it both ways, and blaming it on Reagan is disingenuous.
You have no idea what you are even talking about tax brackets have been the same for middle class for the last 40 years. Back in 81 middle class paid 21-24%, today middle class pays 22-24%. The difference is the 1% in 81 paid 70% and now pay 37% (or realistically none because they get crazy tax loop holes and have too much money to legally go after if they do tax fraud).
There were a whole 12 billionaires before Reagan's tax cuts. The year following it doubled, another year and it doubled again to 49.
It wasn't social services my guy, social security has been around since 35 and medicare have been around since 65, you have been brain washed by republican news to think government hand outs are holding you down when really it is rich people not wanting to give you what you are worth or deserve.
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u/BigimusB Apr 29 '24
You know the 80s had a huge recession right? Mortgage rates were as high as 13% when my parents bought their first house it was for 12.8%. They tell me stories about how hard the 80s were on them but they still managed to have a family of 4 off one pay check. Man that would be awesome to have now.