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kpete

(72,903 posts) Sun Apr 20, 2014, 09:32 AM Apr 2014

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Reaganomics killed America’s middle class [View all]

Reaganomics killed America’s middle class
This country's fate was sealed when our government slashed taxes on the rich back in 1980
THOM HARTMANN, ALTERNET

......................

If you compare a chart showing the historical top income tax rate over the course of the twentieth century with a chart of income inequality in the United States over roughly the same time period, you’ll see that the period with the highest taxes on the rich – the period between the Roosevelt and Reagan administrations – was also the period with the lowest levels of economic inequality.

You’ll also notice that since marginal tax rates started to plummet during the Reagan years, income inequality has skyrocketed.

Even more striking, during those same 33 years since Reagan took office and started cutting taxes on the rich, income levels for the top 1 percent have ballooned while income levels for everyone else have stayed pretty much flat.

http://www.relandothompkins.com/wp-content/uploads/2013/03/Wealth+Distribution.jpg

Coincidence? I think not.

MORE:
http://lategreatmiddleclass.blogspot.com/2014/04/the-end-result-of-unfettered-free.html
http://www.salon.com/2014/04/19/reaganomics_killed_americas_middle_class_partner/
http://www.princeton.edu/~mgilens/Gilens%20homepage%20materials/Gilens%20and%20Page/Gilens%20and%20Page%202014-Testing%20Theories%203-7-14.pdf

48 replies

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Reaganomics killed America’s middle class [View all] kpete Apr 2014 OP

Actually, I blame free trade. nt Demo_Chris Apr 2014 #1

I blame capitalism itself as well - TBF Apr 2014 #2

To that point, the death of Mao in 1976. Loudly Apr 2014 #6

I agree. bvar22 Apr 2014 #29

Correct. Bill left put the critical part... Demo_Chris Apr 2014 #30

Then Europe would be a cesspool of inequality. It is not. pampango Apr 2014 #35

NAFTA, CAFTA, and everything AFTA. Trade policies completely disconnected from reality silvershadow Apr 2014 #39

It was Reaganomics. Greatest wealth in human history and it's now offshore. Octafish Apr 2014 #3

To visualize tha... JHB Apr 2014 #34

Ronnie Rayguns makes me wish there were an afterlife... 99Forever Apr 2014 #4

And no thanks to "Uncle Milty" nt 2naSalit Apr 2014 #5

How Reagan and those that voted for him killed the 99%. L0oniX Apr 2014 #7

As I've been saying since 1980: Itchinjim Apr 2014 #8

Only since 1980? malthaussen Apr 2014 #9

I was young and didn't know much about him. Itchinjim Apr 2014 #11

The election of Reagan was the most distressing during my lifetime -- I am 70. Maineman Apr 2014 #10

Maineman kpete Apr 2014 #15

Reagan was an "Affable Oaf" Stainless Apr 2014 #19

I also am 70 zeemike Apr 2014 #20

Totally Agree cantbeserious Apr 2014 #41

Yup. And on purpose: truebluegreen Apr 2014 #12

Low top tax rate inspires them to do everything else ErikJ Apr 2014 #13

Precisely Sherman A1 Apr 2014 #14

I vividly remember his firing of the air traffic controllers brooklynboy49 Apr 2014 #28

He was the anti-FDR zentrum Apr 2014 #16

The "anti-FDR" kpete Apr 2014 #21

Thanks for your many posts kpete n/t! zentrum Apr 2014 #47

It's a lot of policies; but snot Apr 2014 #17

Those charts do an excellent job tracking Reaganomics' damage. SunSeeker Apr 2014 #18

That should have been in Obama's inaugural address yurbud Apr 2014 #22

Reagan was the start of the war on the middle class HelenWheels Apr 2014 #23

Kind of a no-brainer bkanderson76 Apr 2014 #24

Ryan Plan is Reagan on steroids ErikJ Apr 2014 #25

Big problem here jmowreader Apr 2014 #26

America's middle class killed America's middle class. BillZBubb Apr 2014 #27

It's Stockholm syndrome. Initech Apr 2014 #32

can you say lots or most or whatever? Skittles Apr 2014 #40

let's give an especial shout out to "reagan democrats" noiretextatique Apr 2014 #38

I know average working people who still revere the bastard deutsey Apr 2014 #43

Reagan should be vilified as public enemy number one. Initech Apr 2014 #31

King of the Pigs moondust Apr 2014 #33

Speaks to the reason the gipper is sanctified by the far right indepat Apr 2014 #36

Yep... K & R !!! WillyT Apr 2014 #37

True, and every president since, regardless of party, has continued it Doctor_J Apr 2014 #42

This message was self-deleted by its author seabeckind Apr 2014 #46

Not just reaganomics and the shift of tax burden seabeckind Apr 2014 #44

Wow.... spixxen Apr 2014 #45

And They Voted For It, Too, Ma'am --- Twice The Magistrate Apr 2014 #48