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teaching moments regardless of the material required.
For instance, the current TEKS in economics requires that the Reagan tax cuts be taught. Okay. Listen, class, before Ronald Reagan was President, the top tax bracket in this country was 70%, and if your uncle Cyril drilled a gas well that cost $2 million and came up dry, he could deduct 70% of it, or $1.4 million, from his taxes, so he really was only risking $600,000. So he'd try again, and as long as he came up with 1 in 3, he'd be making money and keep going, and all those roughnecks, roustabouts, machine shops, foundries, wellhead companies, cementers, treaters, casers, would all be employed. In fact, the rig count hit 4,000+ during this time.
Now President Reagan talked the Congress into making the top rate 35%. Now your uncle Cyril can only deduct $700,000 from his taxes, and his risk on each well is now $1,300,000 or more than double what it was before. Capital hates risk, and it flees from risk. So what happened? The rig count fell to around 1,000 and has been in that range ever since. Who put your uncle out of the oil and gas bidness and unemployed all those fellas? Ronald Reagan and his accomplices in Congress.
Like that.
And as long as TEKS topics are covered, you are free to introduce enriched content in your course. You're the one with the degrees and the certifications, and central offices everywhere are way too lazy to produce standardized lesson plans, so close the door and teach.
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