Reagonomics and Bush

[Corey]

Because the George Bush Thread was closed, I'd like to start a thread about Reagonomics and Bush 43.

Really? Is that why we are in a recession right now?

The economy was in trouble before Bush ever stepped into office. I wonder who caused that. It couldn't be a President that rode the wave of prosperity from a new economy and tax reforms put in place by Reagan and Bush... nope, couldn't be it.

The first portion of my initial post was about Reagan, not our current president though he supports using the failed policies of the past (i.e., Reaganomics). Our current recession has multiple causes just like our boom had. In a couple years, we'll be back on another boom, so I"m not worried. I'd rather get in when the market is lower anyways.

Here are some economic FACTS:

Unemployment rate 1982= 9.7%
Unemployment rate 1988= 5.5%
(The lowest in 16 yrs)

Wrongo, the lowest unemployment rate in the past 20 years occurred during the Clinton administration. I believe it was between 4 & 5%.

Per capita after-tax income 1970's= rose 9%
Per capita after-tax income 1980's= rose 19%
(Real income of households from EVERY quintile rose every year from 1983 to 1990)

You reveal your dittoheadness. Reagan was president from 1981 to 1989. Check your facts before embarrassing yourself with inappropriate responses. From 1981 to 1989, the tax burden on the lowest income increased 15% while it decreased by 15% on the highest quintile.

The annual level of investment rose 76% in the 1980's

The bottom fifth of income earners real household income increased by 12%in the 1980's
(reversing a 17% slide from 1979 to 1983)

I'd love to see from what netherregion you pulled these. I don't care about investment. I was talking about the tax burden on the lowest fifth. You also blatantly ignore the fact that two-income families become the norm during the 80's does your little statistic account for that? I doubt it.

The Reagan tax cuts (the largest in history) DOUBLED the revenues to the US Treasury.
(Trouble was- the congress spent $1.41 for every dollar brought in)

Two points:

1) right after the cut was passed, there was a huge fiscal crisis. THe only thing that saved the tax cut were outside factors like a drop in oil price.

2) Reagan CONSISTENTLY submitted budgets larger than the Democratic Congress passed.

During this time period the Democratic congress attempted to raise taxes on the rich by enacting an excise tax on luxury yachats. With this tax imposed, the rich bought their yachats over-seas. Thus a yachat factory in Conn. shut down and the average everyday workers lost their jobs.

You see- we need the rich for they invest, spend money, buy expensive homes and cars. Therefore us average people find employment.

Uh-huh. Got any unmassaged numbers to support that?

In short, your economic "facts" look like they're straight out of a Rush (the Liar) Limbaugh book.