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In reply to the discussion: It's getting real hard to tell just who destroyed the economy... [View all]jwirr
(39,215 posts)69. I do agree that it has always been here and I suspect that it can be found in the history of a lot
of other countries if not all. Regardless if we are talking feudalism, empires or monarchial rule it was those with the acquired wealth that rule. No one else had the power to do it.
But in my lifetime I did see it put into some kind of control with the New Deal era laws and as long as those laws held they worked to the extent that the 99% could survive and even prosper - becoming middle class citizens. As these laws (like Glass-Steagell) disappear the controls fail and we are once again at the door of a Great Depression.
I know that FDR was part of the 1% and thus still illustrates the rule of the rich over the poor. But at least once we were able to regulate it. We are losing control over that now.
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Yes, but Reagan SLASHED tax rates on the wealthy and to this day they are still slashed.
NoJusticeNoPeace
May 2015
#53
As a result of the 1981 and 1986 bills, the top income tax rate was slashed from 70% to 28%.
NoJusticeNoPeace
May 2015
#59
No one screwed the economy. The rich always keep getting richer. It's most of us who got screwed.
merrily
May 2015
#4
Raygun changed our economy by introducing the trickledown theory - the others including
jwirr
May 2015
#9
Under FDR. We had a mixed economy that created the middle class. Not the filthy rich. Do you
jwirr
May 2015
#14
When it comes to what type of government I agree. But plutocracy and democracy are not
jwirr
May 2015
#20
Then why are we talking about income inequality now? Why haven't we been talking about it all
jwirr
May 2015
#33
I'm sure people have always talked about it. They just didn't necessarily used that term.
merrily
May 2015
#45
The campaign money and lobbying is definitely a BIG problem. I think what you are calling a
jwirr
May 2015
#50
I think we are, but I would call it big business, since a mom and pop can be incorporated and a
merrily
May 2015
#56
I know. We us the word corporate to mean so many things. A lot of small family farmers
jwirr
May 2015
#67
I wish Bernie could scare them but he needs a lot of us at his back. And he looks so gentle.
jwirr
May 2015
#72
I use the words trickle down because I do not know what else to call the economic theory that
jwirr
May 2015
#52
I do agree that it has always been here and I suspect that it can be found in the history of a lot
jwirr
May 2015
#69
The economy started declining with computers, and Americans liking transistor radios and VW Beetles.
Hoyt
May 2015
#17
Not trading among ourselves sure isn't stopping it, either. Thing is, what will?
merrily
May 2015
#37
It's funny you say we must look to Scandinavia, then rule out Sanders in the next breath.
merrily
May 2015
#46
Regan and the Republicans have done a masterful job of fucking the middle and lower class.
NCTraveler
May 2015
#18
Use the r word all you want. NAFTA, repeal of Glass Steagall. No, he wasn't the only one, but
merrily
May 2015
#21
Sorry, but Clinton, Summer and Greenspan ALL worked very hard to get that veto proof majority by
merrily
May 2015
#81
There is quite a difference between "ruined the economy" and "the TPP will ruin the economy".
djean111
May 2015
#23
Well, by politicians. I have this crazy idea we voters are also part of the party.
merrily
May 2015
#30
Who cares what labor wants? Republicans have made them out to be bad guys and
liberal_at_heart
May 2015
#75
I have no idea what that means. Besides, jailing people after the economies of several nations
merrily
May 2015
#82
Reagan. Where economics is concerned, he was Morgoth to GW Bush's Sauron.
True Blue Door
May 2015
#40
Big money destroyed the economy. It now costs more than $1 billion to buy the job of president.
lumberjack_jeff
May 2015
#47
The issue which has swept down the centuries and which will have to be fought sooner or later
Tierra_y_Libertad
May 2015
#83