How many here lived through "Regan-omics"? What will happen when there is no more Middle Class?

Question

Any change after the current Administration will be most welcome. When I hear candidates speak glowingly of Ronald Regan I cringe. I lived through his administration. I know that "Trickle Down" economy does not work. The rich are not rich because of their spending and generosity. They are rich mostly from saving-cutting corners-hording. Percentage Wise it has always been the middle class that have supported the charities giving less individually but more collectively to support them. The middle class does not buy the privileges and support of the political leaders. It benefits the rich to eliminate the middle class and have a ultra rich ultra poor society.

And what has the trickle down economy done under the current administration? Unemployment is expected to rise to 5% this year. One person had the gull to say the homeless are homeless because they choose to be. Oh really?

Regan did not go the the same extremes-This is what we have now:
Predatory mortgage lenders-record breaking numbers of foreclosures-budgets to the Social Service Agencies (including job placement assistance) being slashed to fund a war. It is no longer just a few anymore. It is parents with children, the elderly, the under served Vietnam war veterans, the mildly mentally ill. A crappy economy-illegals who work for no benefits and low pay ..., jobs being outsourced to other countries....
Higher percentage of taxes taken from the middle class (33%) and lower for the wealthy (18%) for the "Trickle Down" economy scheme. Sky rocketing fuel prices resulting in higher priced nessesities of food, heat, est.
I volunteered 100 hours at an agency called M.E.N.D. (Meet Each Need with Dignity). Recent B.S. Degree in Human Service Management (April 2007)

Thanks for the star iceman! 8:) and the understanding.

Daniel-My in-laws legally immigrated from Mexico so I have heard how that Goverment is controled by a few ultra rich families. That is why so many come here-legally and other wise. I fear the conditions there will soon be duplicated here. In fact I have heard that some are returning to Mexico as our economy is entering a "free fall" already.

In the news-200,000 manufacturing jobs lost in the Los Angeles area over the past 10 years...
The working poor can't make it even with the minimum pay raise...
Brace yourself for the growing poor population as more and more lower income middle class join them.

Answer 1

You seem to be a lone voice in the woods today.
The concept of supply side economics is so flawed is pathetic. If the upper income level pays 10% less in income tax, that savings is going to be invested in the most lucative market. It isn't going to be spent. Right now, the biggest returns on investments are overseas, not in the USA. All those tax savings are creating jobs in China, not here.
Of course, the wealthy are getting more investment returns for which they pay more taxes, but that only benefits the IRS. In the meantime, we have fewer jobs and local communities are losing their tax base.
If middle income individuals payed 10% less in taxes, that savings in taxes would be spent here. That increase in domestic spending would create more jobs here. That spending here would increase local communities income and support local services.
edit:
Come to think of it, there may lay the problem. Tax relief for middle income people mostly benefits the tax structure of local governments, not the federal government. The federal government gets the greatest return from lowering taxes on the upper income levels.

Answer 2

I lived through Ronald Reagan's,administration as well n I after living through this bum n his cousin that we have in the White House right now I would take Reagan,over him anytime,Reagan,was also my boss of course since I served in the military during that time frame as well.
I agree with most of what u had to say in reference to the middle class that all the want here is the ultra rich n ultra poor society but that will not happen because u will never get rid of the middle class of which I am one I can't be bought and I have a right to my opinions thoughts n vote as well

Answer 3

I lived in California during the Reagan years, and I worked at a defense plant, earning overtime, so my personal experience was not typical. My friends outside of California had it a lot tougher, and I'm not so selfish that I'm unable to understand that extremists like Reagan, who cater to a single economy class, are bad for the country. Yes Bush has been ten times worse, because he has waged an active class war, whereas Reagan's was benign. But similar to Reagan, I'll bet folks in Texas are doing fine under Bush...

Answer 4

Big Business prefers it when we are on our knees begging for jobs on any terms -- not on our feet demanding safe working conditions and fair pay. These two naturally have opposing interests and the worst of Republican LaLa Land talking points is to pretend otherwise.

Money does not and never has trickled down. It trickles UP. If it trickled DOWN, the old saying would go "The rich get poorer, and the poor get richer." Duh.

Answer 5

I always thought "trickle down" sounded a lot like being pissed on, which is what the Reagan administration did to the middle class as far as I'm concerned. I was there also, Reagan's policies didn't do me a damn bit of good.

Answer 6

There were many that did well during the Reagan administration but, there was also 8% unemployment and, recession. Many may critize Carter but, the record inflation during his administration allowed for what ever growth there was during the Reagan administration.

Answer 7

While I applaud your insight n the rich and the middle class I have to say I disagree with your assumption the rich want an ultra rich and ultra poor class. Its the middle class who made them rich and keep them rich. The rich dont want a poor class, they dispise and ridicule the poor. Also, lets not generalize on the evils of the rich, they are people just like you and me. Well maybe not like me. If you had riches you'd be up there with them, trickling with abandon.

Answer 8

There are somethings you are saying that make sense, but, they are held together by anger and ridiculously uneducated propaganda.

People become rich by investing in good ideas, not by having good ideas.

Rich people, "Venture Capitalists", seek out people with good ideas and these people occur in all economic strata.

It is beneficial for the Rich to invest in people with good ideas who can accomplish their goals. By investing in people who work the Rich can live off of the work of others.

If everyone is "poor" there is no one to invest in and the "Rich" have to manage the "poor". It therefore becomes important for the Rich to invest in such a way that a middle class of entrepreneurs and managers are created.

I could go into more detail, but, if you had actually studied economics, capitalism and socialism these things would have been obvious.

You need to dump the propaganda and study more.

Answer 9

Don't worry, the middle class will continue to dwindle reguardless who is in office or who was in office. This country will turn into a "poverty nation" where there will be only two classes. The have's and have not, thanks to the formation of the North American Union.

Answer 10

I know exactly what you mean? Remember star wars BS? thanks god he couldn't do it? lol i mean damn the cost?

Any way Rich needs to be extra careful with this ever widening gap, between them and poor? soon poor can't effort to buy from rich and the what happens? i ain't economist, but i can analyze stuff? I'll say rich has to compete with poor. on good signal light locations? you know wa i min?

Regards.