Ronald Reagan - Our Great Socalist President Who Redistributed Our National Wealth

[Pedro Canoza]

My shit eating cousin Rudy Canoza survives on Social Security and by
eating pennies out of rich people's assholes. He thinks that he's a
great capitalist Objectivist but he's never earned more than $20,000 a
year in his life. That beaner is a burden on society. He should go
back to Mexico where he can earn money selling his body to the cartels
for sex.

Hero Reagan’s Compromise Would Collide With Tea Party Certitude


http://www.bloomberg.com/news/2012-08-28/hero-reagan-s-compromise-would-collide-with-tea-party-certitude.html

Reagan: The Great American Socialist

Ravi Batra comments that if Democratic President Barack Obama is a
"small" socialist, then Reagan was the "Great American Socialist."
(Photo: University of Texas)



Socialism has been much in the news for some months. Recently, some
GOP stalwarts charged President Obama with preaching the heresy. John
Boehner, the House minority leader, characterized Obama's stimulus
package as, "one big down payment on a new American socialist
experiment."

"Socialism" is a pejorative term in American politics and needs to
be carefully examined. It usually refers to increased government
control over the economy, or policies that promote the redistribution
of wealth. There is no doubt that President Obama's economic measures,
passed and proposed, will raise tax rates on the richest Americans to
pay for increased government funding of health care, green energy and
education. So the new president is indeed a redistributionist, but so
was Ronald Reagan, except that Obama's plans will transfer wealth from
the rich to the poor, whereas Reagan's bills transferred wealth from
the poor and the middle class to the opulent. In fact, Obama's measures
are puny, whereas Reagan's were massive. If the Democrat is a "small"
socialist, Reagan was the Great American Socialist.

Let's go back to the early 1980's. In 1981, Reagan signed a law
that sharply reduced the income tax for the wealthiest Americans and
corporations. The president asserted his program would create jobs,
purge inflation and, get this, trim the budget deficit. However,
following the tax cut, the deficit soared from 2.5 percent of GDP to
over 6 percent, alarming financial markets, sending interest rates sky
high, and culminating in the worst recession since the 1930's.

Soon the president realized he needed new revenues to trim the
deficit, bring down interest rates and improve his chances for
reelection. He would not rescind the income tax cut, but other taxes
were acceptable. In 1982, taxes were raised on gasoline and cigarettes,
but the deficit hardly budged. In 1983, the president signed the
biggest tax rise on payrolls, promising to create a surplus in the
Social Security system, while knowing all along that the new revenue
would be used to finance the deficit.

The retirement system was looted from the first day the Social
Security surplus came into being, because the legislation itself gave
the president a free hand to spend the surplus in any way he liked.
Thus began a massive transfer of wealth from the poor and the middle
class, especially the self-employed small businessman, to the wealthy.
The self-employment tax jumped as much as 66 percent.

In 1986, Reagan slashed the top tax rate further. His
redistributionist obsession led to a perversity in the law. The
wealthiest faced a 28 percent tax rate, while those with lower incomes
faced a 33 percent rate; in addition, the bottom rate climbed from 11
percent to 15 percent. For the first time in history, the top rate fell
and the bottom rate rose simultaneously. Even unemployment compensation
was not spared. The jobless had to pay income tax on their benefits. A
year later, the man who would not spare unemployment compensation from
taxation called for a cut in the capital gains tax. Thus, Reagan was a
staunch socialist, totally committed to his cause of wealth
redistribution towards the affluent.

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.

-------

Dr. Ravi Batra, a professor of economics at Southern Methodist
University, Dallas, is the author of five international best sellers.
He was the chairperson of his department from 1977 to 1980. This
article is based on Batra's two books, "The New Golden Age" and
"Greenspan's Fraud." His web site is Ravibatra.com.

[Rudy Canoza]

On 1/14/2014 12:58 PM, "billy", impotent squat-to-piss no-fight
*shitbag* bitch, lied:

> In article <las9gb$o8g$1...@news.albasani.net>,
>
> To summarize this excellent article,


It's bullshit, of course.