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Reaganomics – good bye, so long, don’t come back!

reaganContrary to the on-going lie perpetuated by Republicans NONE of the past three GOP presidents; Reagan, Bush Sr. or Bush Jr. – were fiscal conservatives.  In fact, their hero Reagan not only didn’t care about the deficit, he exploded government spending with a military spending spree for all that lasted nearly a decade…    So now we all know the dollars never trickled down, let us now see if they will trickle up?!?

A Bold Plan Sweeps Away Reagan Ideas  / By David Leonhardt / New York Times

The budget that President Obama proposed on Thursday is nothing less than an attempt to end a three-decade era of economic policy dominated by the ideas of Ronald Reagan and his supporters.

The Obama budget — a bold, even radical departure from recent history, wrapped in bureaucratic formality and statistical tables — would sharply raise taxes on the rich, beyond where Bill Clinton had raised them. It would reduce taxes for everyone else, to a lower point than they were under either Mr. Clinton or George W. Bush. And it would lay the groundwork for sweeping changes in health care and education, among other areas.

More than anything else, the proposals seek to reverse the rapid increase in economic inequality over the last 30 years. They do so first by rewriting the tax code and, over the longer term, by trying to solve some big causes of the middle-class income slowdown, like high medical costs and slowing educational gains.   (Read the whole story)

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  1. […] Advice Online added an interesting post today on Reaganomics – good bye, so long, don’t come back!Here’s a small readingAnd it would lay the groundwork for sweeping changes in Bhealth/B Bcare/B and education, among other areas. […]

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