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Old 08-09-2010, 02:08 PM   #22
Timber Loftis
40th Level Warrior
 

Join Date: July 11, 2002
Location: Chicago, IL
Posts: 11,916
Default Re: Double dip Recession?

The last time this country "worked" without running a deficit (save for 2 years of Clinton's rule when we were surfing high on an IP bubble) was PRIOR TO Reagan's big tax overhaul in the early 80's. Ever since then, we've had to borrow money to give out basic services and run the country. It's true that every president since Reagan has also been on the bandwagon of forcing money up to the rich, so it's all their fault, but it started with that tax overhaul.

The last time this country could pay for itself, the rich were paying 90% taxes on most of the money they made. Why Reagan sought to undo this is beyond my ken, because even at that tax rate the rich were still fat and happy. But that's what it takes to pay for the "great America" that is sadly now a thing of the past.

If you think that America's "golden age" of 1945-1970(ish) was an era of low government spending and small government, you are very wrong. Those big new roads and schools and libraries and space discoveries and military advancements that occurred during that time were done by government and paid for by taxes. 25 years ago we removed the funding, and it is no surprise that we now have to cast off all those services as well. Our nation is crumbling, in a literal sense.
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Last edited by Timber Loftis; 08-09-2010 at 02:11 PM.
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