Home > Economics, Fiscal Policy, Politico > It Started With Reagan Rant….

It Started With Reagan Rant….

imagesAmerica clear your head of previous reflections of the political greatness of Reagan. Please rinse your face off, lay back in a relaxing chair, clear your head, and take a deep breath for a Reagan reality check.

Now, let’s take a look at what 30 years of Reaganomics, aka Trickle-down economics, aka supply side economics, aka Laissez faire Capitalism has actually done for America’s political outlook. What should  be said is what Reagan has done to America!

Reagan; the man and presidency has been paved with grandiose praise equivalent to political sainthood from those on the right of the political spectrum. The political sainthood that has been bestowed on Reagan does not end with Republicons; it also includes our current president Barak Obama. You know the supposed Socialistic anti-American Kenyan Marxist Lefty Barak Hussein Obama.

Obama reflected on the Reagan presidency by saying “I think Ronald Reagan changed the trajectory of America in a way that, you know, Richard Nixon did not and in a way that Bill Clinton did not“. Obama went on to say “ he [Reagan] tapped into what people were already feeling, which was, we want clarity, we want optimism, we want a return to that sense of dynamism and entrepreneurship that had been missing.” An interesting take on Reagan the man and presidency; a short sided and mistaken take on Reagan’s disastrous impact on American political and economic direction.

Reagan ushered in Reaganomics in 1980 with the promise of less government, more economic and social freedom. Reagan promised a vast reduction in all regulations from economics to manufacturing and everything in-between. Does this sound anything like the First Republicon Depression? Dare we say yes? WE DARE!

With his election and its ideologies being accepted by America and politicians at large; one can say that Reagan was transformational, but in a very regressive way. Reagan took us from a progressive WE nation into a regressive ME nation with policies that began the decimation of the middle class of America. His presidency hurt America  by creating a vast and monstrous movement of wealth to the top 5 percent all while increasing taxes on the working class.

In the 1940s, 50s, 60s, 70s and into the first couple of years of the 1980s, Americans had continuously growing incomes that followed the same trend line as the worker’s productivity. As the American worker’s productivity rose, meaning that the employer got more work out of a worker for the same number of work hours, so did that employees pay scale. This business model worked well for all parties involved; the employer, the employee, and the market all benefited from this productivity boom.

It was a homogeneous relationship with vast rewards for all which lead to a large middle class. This fair and rewarding approach to business made it possible for a hard-working man or woman to buy a home, take a vacation, buy a car, have a pension, send their kids to college, and provide a decent standard of living on one salary.

This same standard of living can only be achieved today, if you have two people working with college degrees. Prior to Reagan, a single income family could live a middle-class life. This was the standard until Rich-guy-nomics. Reagan used his charisma and some catchy slogans, to sell American a dressed up turd that resulted in the slow dismantling of the New Deal. Let’s take a look at what most Republicans fail to mention or even except about Saint Reagan!

The fiscal conservative Reagan(sarcasm should be noted here) raised taxes eleven times as president while tripling the deficit which was a feat that very few presidents were capable of doing. He could be called a serial tax raiser and would be in serious trouble in today’s GOP. Do not be mistaken into thinking that his approach to raising taxes only began during his presidency. in 1967 Reagan, while Governor of California, signed the largest tax increase in California history at the time.

Reagan also vetoed an Anti-Apartheid bill which was designed in opposition of the atrocities in South Africa. This man was actually in full support of the Apartheid government and their oppression. Way to be on the wrong side of history Saint Reagan!

Today many so-called Conservatives shout from the mountain tops about their opposition to amnesty and yet their patron saint “Reagan” gave blanket amnesty to over 3 million immigrates. That’s right Reagan allowed any and all immigrants that were in America prior to 1982 full residency. Do you remember that Republicans?

Do the Reagan flock remember the whole Contra-Iran scandal? A scandal so ripe in treason that Reagan actually should have been impeached and imprisoned. To put it into a nasty treasonous nutshell, Reagan illegally sold arms to Iran (YES, HATED IRAN), which at the time was under an US arms embargo, in exchange for the release of hostages. Yes, Reagan paid to have hostages released! He then took the illegal profit of that treasonous act and proceeded to use it to fund the rebels in Nicaragua.

The funding of Nicaraguan rebels was already banned by Congress, but as Reagan famously said “Congress? I don’t need no stinking Congress!” (he actually did not say that, but it seemed to be his attitude). Reagan disregarded the little road-bump named “Congress” and did it anyway. Did he get impeached, arrested, or remembered as we do “Nixon”? No! He merely said he did not  remember signing it or he did not read what he signed and went on governing. Amazing, but true!

Reagan was so bad that he even helped to create the Taliban that America is fighting today. Reagan approved the training, arming, equipping, and fnded Islamist Mujahidin fighters in Afghanistan. These very same fighters would later become the Taliban and would use the very same intelligence and weapons against America. At the time of Reagan’s support of the Mujahidin, Osama Bin Ladin was a prominent commander of their forces. Thanks Reagan!

Reagan almost tripled the size of government during his presidency although he famously (or infamously) stated “Man is not free until government is limited” and “The most terrifying words in the English language are: I’m from the government and I’m here to help”. Read more at http://www.brainyquote.com/quotes/authors/r/ronald_reagan.html#LUIGZYP7SAXeKh4s.99 Even with those catchy phrased he proceeded to increase government in terms of programs, employees, bureaucracy, and spending as a percentage of GDP. Thanks Reagan!

Reagan appeared to be schizophrenic when it came to taxes. He cut taxes, which resulted in an unemployment rate of 10.5, then promptly raised taxes all while increasing the wealth inequality. Another amazingly bad fiscal feat  which for some reason fails to mentioned today as those Reaganites sing his praises. Even with this fact, the myth of the monumental economic boom for all American under Reagan presides; in-spite of the facts.

The vast majority of American wealth went up to the top 5 percent while a slow stream of wealth trickled down to the workers, so the working/middle class workers became peons. By 2008, worker pay was flat; federal minimum wage went down by 9 percent (inflation adjusted dollars); production worker pay went up by 4.3 percent from 1990 to 2005. All made possible the disastrous policies laid down by the Reagan Revolution and has tainted America’s approach to government till this day! Thanks Reagan!

The average hourly earning has declined while hours of productivity has risen.Corporate profits are up more than a three hundred percent; the S&P is up over 140 percent; and CEO pay is up over 300 percent! This was the grand expectations of Reaganomics and it has not failed to deliver Trickle Down wealth and a nation of peons! All forms of day-to-day essentials have all risen while wages have become stagnate, which has greatly widened the wealth divide to the point that is now a wealth chasm. Thanks Reagan!

America has made the ugly and regressive shift that those on the Right side of the political spectrum continues to decry as the way to prosperity. We have taken that which American found to be essential national investments such as education, military, health, and (in some cases) police, fire department, and roads and made them revenue streams for the ruling elites; CORPORATIONS.

This shift is a devastating departure from that of the 40s through the early 80s and Reagan was the root cause of this. The initial and most observable impact of Reaganomics is the deterioration of the middle class, but what should not be missed is the impact that it had on education.In days past, American would have to go to school for 12 years to earn a middle class lifestyle, but today you would have to have a minimum of 16 years of education with more than 30,000 dollars of debt. in other words, you have to dig yourself out of a financial hole created by education debt before can start your path to the American Dream!

Reaganomics changed our antitrust laws and our tax code that allowed corporate predatory practices that undermined the competitive market. The corporations were allowed to merge with other companies and thereby become transnational corporations that used their overwhelming size to undercut local businesses into extinction. This policy shift allowed the Mergers and acquisitions bubble that devastated the American economy in the eighties. All these negatives were made possible by the changes that the Reagan administration did to our tax code, import laws, antitrust laws, and a full on attack on unions.

The merger and acquisition practices of this sort were all illegal in America from American’s inception until the presidency of Reagan. Reagan legalized the monopolistic corporate practices that we are suffering under today and no president after him has dared to renew and repair our economic system!

Reagan’s legacy lives on today and Americans are suffering under them without a real reflection as to what was the root cause of this Plutocracy we live under today. He laid down the foundation which made it possible to have Private (Pirate) equity and leveraged buyout which harvested the companies of their primary worth. Reagan ushered in an economic philosophy that ended the local Ma and Pa shops and sowed the seeds of monopolistic vulture capitalism!

Reagan and Reaganomics has ushered in an era of  “Me!” and has seriously damaged the political and economic health of America. It is time to brand Reaganomics and the man behind it as the unmitigated economic/political failure that it is. As Will Bunch famously said of the Reagan legacy “America tear down this myth!”

The tearing down of the Reagan myth has to be done brick by brick until the true horror of his presidency is revealed to the populace. Only then can we push back on the policies of the current “ME” nation and return American to the progressive nation that it has been since its inception.

  1. Joe
    June 7, 2013 at 9:42 pm

    Damn Reagan! I want to nominate Gaston as our president in 2020; hopefully you will not pull a Reagan on me. 🙂

    • June 12, 2013 at 8:01 pm

      Reagan is damned, tagged and has been found wanting by me. I find his administration and presidency extremely damaging to our country and our political consciousness.

      By the way, if you voted for me and I became president I would be the most populist/progressive President that this country has ever had.

      I would never pull a Reagan. Thanks for the comment.

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