Correcting the Reagan Myth

[Cold Fusion38]

DESPITE of or more likely BECAUSE of "Reaganomics" we LOST our manufacturing base.

 

[Truthmatters]

you said the tax cuts didn't work and the spending did. I lived through the spending of Carter and the Tax cuts of Reagan. One worked the other didn't. You are trying to revise history by saying that spending under reagan, which didn't work for carter, suddenly worked for him.It is no me saying the tax cuts did not work like it is currently claimed it was the author at the link. The facts are that adjusted for inflation the tax cuts did not have the return many on the right today claim they did. Then hard choices Carter made dureing his term did indeed help the economy recover and Carter did them knowing it would make it near impossible for him to win relection. Reagan stimulated an economy on the verge of recovery with massive miliutary spending at a time when the USSR was nearing finacial collapse.

I will grant you the collapse in oil prices helped a lot. But that was Reagan's doing too. He pulled off the price controls that artificially supported the OPEC price and suppressed the price American producers could get. His first executive order killed the gas price controls, and shortly afterword oil prices began to plunge. Oil profits here in the state also skyrocketed, but that was just a matter of profits going from the Saudi's to the JR Ewing types. One could argue that is not really an improvement on personality, but the crunching of the price of oil was like a second tax cut.
You are trying to say what did work did not, and what failed was a success. That is revisionism of the worst kind. Because it matters today what course we take.
Its not revisionist history its history and the acessment of the CBO and economists not commited to supply side economics.
Do tax cuts work? Bush cut taxes and for all the period up to the smash, we had low unemployment and a fast moving economy. When Pelosi and Co came into power, things began to come unhinged, and their response was stimulus by spending. Which failed, failed and failed again.How utterly insane of you to try and say the election of a democratic majority in the congress caused these current economic conditions. NO expert is willing to even suggest such blatent partisanship.

When Obama came in, he promised his stimulus would work. It would keep unemployment under 8%. It is nearer 11.He promised this when laying out his original stimulus package, it was then trimed down to apease the Rs in congress. You can go on lying but dont expect any rational beings to join you.

So, to revise history and say the failure worked and the functional failed it very bad history.

No I am not revising anything, you just never knew the truth because of your life long partisanship.

 

[Oldandtired]

DESPITE of or more likely BECAUSE of "Reaganomics" we LOST our manufacturing base.

We did?

LMAO......you are pathetic with your assertions.

 

[CrusaderFrank]

American Marxists have been tearing down Reagan since the day he was elected and he just laughed at them.

 

[CrusaderFrank]

The "Tax cuts don't work" mantra resonates well with people who: never worked in the private sector, never owned a business and are just plain fucking clueless and want to stay that way. Those are the only choices

 

[Truthmatters]

Laffer himself says they only work in certain conditions

 

[uscitizen]

Ross was right about that big sucking sound.

 

[Truthmatters]

American Marxists have been tearing down Reagan since the day he was elected and he just laughed at them.

Stating facts is not tearing anything down.

Its building our future on facts instead of political shecannery.

 

[Oldandtired]

Laffer himself says they only work in certain conditions

Yeah...like a free economy.

 

[Oldandtired]

American Marxists have been tearing down Reagan since the day he was elected and he just laughed at them.

Stating facts is not tearing anything down.

Its building our future on facts instead of political shecannery.

You mean like the facts that supported the borrowing of a trillion dollars for the stimulus?

Exactly what facts weree used for that debacle?

Japans lost decade of 8 stimuli that all failed miserably?

 

[CrusaderFrank]

American Marxists have been tearing down Reagan since the day he was elected and he just laughed at them.

Stating facts is not tearing anything down.

Its building our future on facts instead of political shecannery.

Living is easy with eyes closed, misunderstanding all you see.

I don't argue economics with people consistently wrong in the trillion column

 

[Truthmatters]

Reaganomics - Wikipedia, the free encyclopedia

Now please read this chart and face reality



According to a United States Department of the Treasury economic study,[29] the major tax bills enacted under Reagan, in the short-term, significantly reduced (~-1% of GDP) government tax receipts. Separated out, however, it is clear that the Economic Recovery Tax Act of 1981 was a massive (~-3% of GDP) decrease in revenues (the largest tax cuts ever enacted),[30] while other tax bills had neutral or, in the case of the Tax Equity and Fiscal Responsibility Act of 1982, significant (~+1% of GDP) government revenue-enhancing effects.

 

[Yukon]

Ronald Reagan was a puppet of big-business. His mind was going when he was elected and ultimately he died not even knowing who he was. How sad and pathetic....

 

[CrusaderFrank]

Reaganomics - Wikipedia, the free encyclopedia

Now please read this chart and face reality

Please tell Obama and Pelosi to raise taxes because that's the only way to grow the economy

 

[Oldandtired]

Ronald Reagan was a puppet of big-business. His mind was going when he was elected and ultimately he died not even knowing who he was. How sad and pathetic....

I take back my response to yoiur last post.
I did not realize I was criticizing someone who is quite obviously mentally challanged.

 

[Truthmatters]

American Marxists have been tearing down Reagan since the day he was elected and he just laughed at them.

Stating facts is not tearing anything down.

Its building our future on facts instead of political shecannery.

You mean like the facts that supported the borrowing of a trillion dollars for the stimulus?

Exactly what facts weree used for that debacle?

Japans lost decade of 8 stimuli that all failed miserably?

Where were you when Bush was making this mess and borrowing from China for wars?

This country bailed itself of this type of mess in the past and can do it again.

Stimulus was a huge part of that sucess.

Reagan did it too but handed it all over for weapons instead of infrastructure which would have served this country much better.

 

[Baruch Menachem]

you said the tax cuts didn't work and the spending did. I lived through the spending of Carter and the Tax cuts of Reagan. One worked the other didn't. You are trying to revise history by saying that spending under reagan, which didn't work for carter, suddenly worked for him.It is no me saying the tax cuts did not work like it is currently claimed it was the author at the link. The facts are that adjusted for inflation the tax cuts did not have the return many on the right today claim they did. Then hard choices Carter made dureing his term did indeed help the economy recover and Carter did them knowing it would make it near impossible for him to win relection. Reagan stimulated an economy on the verge of recovery with massive miliutary spending at a time when the USSR was nearing finacial collapse.Under carter in 1980, the economy was not on the verge of recovery. The first year tax cuts were pretty lame. 5%. It wasn't until the 2nd and 3rd year cuts came in that the economy began to roar.
The Soviet economy was in bad shape, but that does not argue for near collapse. It was in worse shape in the 1950's when the were redoing collectivization. The collapse was more due to the fact that folks at the top were Brezhnev, Chernenko, Andropov and Gorbachev. The system was so rotten and there were no true believers in the the hierarchy of the church. Sort of what happened to Orthodoxy under the rule of Rasputin and his cronies.

I will grant you the collapse in oil prices helped a lot. But that was Reagan's doing too. He pulled off the price controls that artificially supported the OPEC price and suppressed the price American producers could get. His first executive order killed the gas price controls, and shortly afterword oil prices began to plunge. Oil profits here in the state also skyrocketed, but that was just a matter of profits going from the Saudi's to the JR Ewing types. One could argue that is not really an improvement on personality, but the crunching of the price of oil was like a second tax cut.
You are trying to say what did work did not, and what failed was a success. That is revisionism of the worst kind. Because it matters today what course we take.
Its not revisionist history its history and the acessment of the CBO and economists not commited to supply side economics.
Do tax cuts work? Bush cut taxes and for all the period up to the smash, we had low unemployment and a fast moving economy. When Pelosi and Co came into power, things began to come unhinged, and their response was stimulus by spending. Which failed, failed and failed again.How utterly insane of you to try and say the election of a democratic majority in the congress caused these current economic conditions. NO expert is willing to even suggest such blatent partisanship.Congress makes the policy. After Pelosi, policy changed. Unemployment went up. I present the facts. Wether they have a relationship is a matter of perspective. I think they do, you think they don't. I am not the only partisan one here.

When Obama came in, he promised his stimulus would work. It would keep unemployment under 8%. It is nearer 11.He promised this when laying out his original stimulus package, it was then trimed down to apease the Rs in congress. You can go on lying but dont expect any rational beings to join you.
He said it would reduce unemployment. Do you realized the DEFICIT is greater than the amount of taxes collected this year. Unemployment went up. Stimulus didn't stimulate, instead it seems to have caused further collapse. People just plain stopped spending because of fear of what 0bama was doing.

So, to revise history and say the failure worked and the functional failed it very bad history.

No I am not revising anything, you just never knew the truth because of your life long partisanship.

I like to think my partisanship (Which is not so extreme as yours) is based on rational observation. It looks as if YMMV.

Please fisk my stuff in Blue, rather than red if you want me to respond in the future.

 

[Oldandtired]

Stating facts is not tearing anything down.

Its building our future on facts instead of political shecannery.

You mean like the facts that supported the borrowing of a trillion dollars for the stimulus?

Exactly what facts weree used for that debacle?

Japans lost decade of 8 stimuli that all failed miserably?

Where were you when Bush was making this mess and borrowing from China for wars?

This country bailed itself of this type of mess in the past and can do it again.

Stimulus was a huge part of that sucess.

Reagan did it too but handed it all over for weapons instead of infrastructure which would have served this country much better.

and exactrly where do golf courses fit into this?
I had no issue with infrastructure projects.....but exactly how much was spent on that so far?

 

[Wry Catcher]

Wow.
Reagan has been dead for what 2 years now? And he left office over 20 years ago. So why does anyone care?
Can it be that if we tear down Reagan's real accomplishments we will make Obama look better? Say it aint so.
And this is the first tiem I've seen that tight money contributes to economic activity. That is one new message for Bernanke. He's got it all wrong. He needs to raise rates, like to 15% like they were in Reagan's day.

Total fucking tool of a post from a total fucking tool of a poster.

Why does anyone care? The answer to that is simple and short. Your 'kind' relies on revising history to 'prove' your ideology. Consider how your 'kind' blames President Carter for the "Malaise" of the last years of the 1970's and the praise Reagan gets from your 'kind' for economic recovery. Both are fictions and anyone honest and educated knows this to be true.
Want proof? Look up the "Win" program under President Ford and the word "Stagflation", a word invented to describe the economy inherited by Carter from the Johnson/Nixon 'policy' of waging war on credit.
And, btw, calling someone a "fucking tool" makes you appear to be a fucking fool, though your dishonesty is clearly your most glaring character disorder.

 

[Yukon]

"...is quite obviously mentally challanged..."

Oldandtired(andprobablyuninsured),

You were talkng about Reagan and there's no offense taken. I'm a Liberal, it's the Conservatives your comments will anger.