Quote:
Originally Posted by T@T
Disaster, how so? he taxed the rich higher than Obama does now, reduced inflation from 12% to 4%, grew the GDP over 3% a year and had the highest approval rating for a departing president since FDR.
He spent a lot on the military but most people would say that spending ended the cold war.
His successor George H screwed the middle class and economy more than Ronald did.
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So much wrong with this post it isn't even funny. The narrative built up around St. Reagan never ceases to make my head spin. Your statements are true, but they come with distinct caveats.
Economically:
* In 1981 Reagan gave a massive 23% tax break to everyone, then adjusted tax brackets and personal exemptions that mostly affected the rich, giving them huge tax loopholes. He also granted massive loopholes to businesses.
* Due to Regan's tax cuts unemployment soared to 10.8%. This also kick started the problematic phenomena we see today, income inequity.
* Between 1984 and 1987 Reagan passed a tax bills that increased tax rates on the middle class, but again decreased taxes on the upper class. The end result of this was the top tax bracket was slashed from a 70% rate to a 28% rate. To pay for this loss of revenue he transferred that liability to the middle and lower class. If you were rich, Ronald Regan was your man. If you were middle class or poor, not so much.
* Reagan was also a massive tax and spender. He made that initial tax cut to redistribute the tax burden, but he also raised taxes seven times during his eight years in office, including the two largest peace time tax increases in American history, to try and pay for his increased spending on the military. He was forced to continue to raise taxes because he spent so much money on programs he felt were important, mostly military.
* Reagan also didn't give a rip about debts or deficits. Reagan tripled the budget deficit and increased the debt by almost $3 trillion. The crazy thing about his spending is that interest rates were at record highs. He borrowed all of that money at rates in double digits, and as high as 18% interest. People complain about borrowing money right now, but we are getting interest rates in the fractions of percentage point versus double digits. Which is more damaging in the long haul? Reagan's borrowing is going to be felt for generations.
Politically:
* While Reagan's spending did contribute to the fall of the Soviet Union, what defeated the Soviet's was their foray into Afghanistan. The Afghanistan campaign bleed to Soviets dry and bankrupted the nation. That left the Soviets with no other option but open up to western interests to get an influx of cash needed to rebuild their crumbling infrastructure.
* Reagan was responsible for the death of journalism, journalistic integrity, and the rise of a divided mediasphere. Reagan's killing of the Fairness Doctrine eliminated the requirements of balanced reporting (equal time on issues). He also forced changes on media ownership that began the slippery slope of elimination of the diversity of voices in the mass media to where are today. His changes on ownership and elimination of the balanced reporting requirement gave rise a new schism in the mass media and the future birth of politically motivated interests like hate radio and Fox News. Reagan didn't get us to this point on his own, the Telecommunications Act of 1993 under Clinton sold us completely out, but Reagan got the ball rolling by killing the Fainess Doctrine.
* Reagan was a cut and runner. He didn't have the taste for war and preferred to retreat and negotiate. When the Beirut marine barracks were bombed, he pulled out the troops and went home.
* Speaking of negotiating, Reagan negotiated with terrorists. Reagan has been given credit for negotiating the release of the hostages in Iran. He negotiated with terrorists for the release of hostages. Also, if anyone examines the timeline he did so prior to being in power. He did this through back channels before he was sworn in as president. Isn't there a word for this?
* Reagan, in a roundabout way, was responsible for the creation of Al Qeada. In his attempts to help fight the Soviets in Afghanistan he approved the CIA training and equipping of the mujaheddin. Unbeknownst to him or the CIA a tall Wahhabi Saudi would join the cause and become an astute student of the tactics employed. That Saudi was Osama bin Laden and the mujaheddin would evolve into the Taliban and Al Qaeda.
* Reagan was soft on immigration. He granted amnesty to over 3 million illegals.
* Reagan grew government in ways other administrations never dreamed of. His spending and increases in the military bloated the government in size, but Reagan also created the Department of Veteran Affairs, which continues to be one of the largest of all governmental agencies.
A point to also remember about Reagan is he didn't give a #### about the rules. They didn't apply to him or to his cronies. His use of the Kitchen Cabinet to develop policy was appalling. His ignorance of the illegal actions that took place on his watch, Iran-Contra as an example, was disgusting. To have his wife carry the banner on the War on Drugs, then allow the CIA to import and sell drugs to pay for weapons to support other regimes was criminal. He was the epitome of modern politician.
The myth of Ronald Reagan is a real pet peeve of mine. I don't mind when people get a fact or two wrong, but to create a narrative that is completely counter to the facts is just unacceptable. Reagan would be considered a liberal Democrat in today's politics. He was an anti-war, large spending, big government politician. He was all for the rich and sticking it to the middle class, but that is the way of both parties these days. Reagan would be a perfect fit on the left side of the aisle.