How much wealth transfer has occurred through Reagan's policies? At least $3 trillion.
The Social Security hike generated over $2 trillion in surplus between 1984 and 2007, and if it had been properly invested, say, in AAA corporate bonds it could have earned another trillion by now. At present, the fund is empty, because it has been used up to finance the federal deficits resulting from frequent cuts in income tax rates. If this is not redistribution of wealth from the poor to the rich, what else is?
Thus, Reagan was the first Republican socialist - and a great one, because his wealth transfer occurred on a massive scale. His accomplishment dwarfs even FDR's, and if today the small businessman suffers a crippling tax burden, he must thank Reagan the redistributionist. However, FDR took pains to help the poor, while Reagan took pains to help the wealthiest like himself.
Reagan's measures were similar to those that the Republicans adopted during the 1920's, which were followed by the catastrophic Depression. More recently, such policies were mimicked by President George W. Bush and they are about to plunge the world into a depression as well. Ironically, the Reagan-style socialism or wealth redistribution is about to destroy monopoly capitalism, the very system that he wanted to preserve and enrich.
Wake up America and elect leaders with a heart - not those who would tax your unemployment benefits and cut the capital gains tax.
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