Bernie Sanders Shows How Reagan Destroyed The Middle Class

Does that include personal deductions, increases in the head of household or earned income, deductions for children ect? Graphs have a limited ability to tell the story.

None of those graph show how many people are shifting in and out of those income groups. I looked for that one but can't find it.

 

Not getting involved AGAIN, on the issue, I just went over some 401K/IRA's accounts, held by millions of middle class people and what all stock are involved...and yes still producing an income, even though not what they did in the 1980's to 2008. I couldn't find one person or company owned and operated by a poor person on any of them, but founds thousands of owners or investors in them, with a great deal of "trickle down" monies going into those accounts. Nothing has trickled up or ever will, no job's come from the poor and little Federal Income comes from the poor, except from mostly Liberal States, who manage to get their share from the poor, such as in higher Gas./Diesel Taxes and Smokes...You also know exactly who the ACA will hurt the most and call them the working stiff???

 

Thanks to right-wing intervention, by 2016, half of the nation's wealth will be in the hands of the 1%.

Many fiscal conservatives think that this is unhealthy, but then there's the libertarian types who want the rich to have even more money, which brings an increase in relative deprivation.

As the rich get richer and the poor get poorer, unregulated capitalism is guaranteed to bring more social programs to help those who can't jump the widening income gap.

 

Sanders blames Reagan. You blame Bush.

That makes Sanders only 2 decades less relevant.

 

Globalism which is a Progressive cause has caused all of this.

 

And now for the real story...

Reaganomics Beats Obama's 'Middle Class Economics' By A Country Mile

 

One economic policy worked and one didn't.

 

TWENTY MILLION JOBS? Oh you mean 14 million PRIVATE sector jobs and of course, like Dubya, Ronnie increased Gov't jobs by 1+ million?

20 million? lol

NO THAT WAS BJ BILL IN THE PRIVATE SECTOR JOB CREATION!

HELL CARTER HAD 9+ MILLION PRIVATE SECTOR JOBS IN 4 YEARS, AND DIDN'T TRIPLE THE DEBT!!

http://data.bls.gov/timeseries/CES0500000001



Economy in The Reagan Era

Good Times on Wall Street

It was that explosive growth in the stock market that drove the overall prosperity of the Reagan years. The great bull market of the 1980s came fast on the heels of one of the bleakest periods in the history of Wall Street; between 1967 and 1982, the Dow Jones Industrial Average declined by some 23%. Factoring in the high inflation of the period, that represented a real decline in value of nearly 70%.

Not-Quite-So-Good Times Off Wall Street

But the expansion of stockownership to nearly 30% of American households still left more than two-thirds of the country shut out of direct benefits from the great bull market of the Age of Reagan. For the 70% of American households that still lacked any stake at all in the stock market, the Reagan economy was not quite so lustrous as it seemed to those enjoying the fruits of rising equity values. Real wages, which had increased steadily from 1945 to 1972 but then stalled through the stagflation era, remained flat through the 1980s as well.




The uneven distribution of benefits from the Reagan boom reflected a growing trend toward what has been called the "financialization" of the American economy. As the financial sector displaced industrial manufacturing as the dominant economic force in American society, the gains from growth came to accrue almost entirely to those with major investments in the market, while individuals dependent solely upon wages and salaries found it harder and harder to get ahead. During Ronald Reagan's presidency, the wealthiest one-fifth of American households (those who naturally owned the most stock) saw their incomes increase by 14%. Meanwhile, the poorest one-fifth (who presumably owned no stock) endured an income decline of 24%, while the incomes of the middle three-fifths of American families stayed more or less flat.



This uneven pattern represented a marked departure from the earlier economic expansions of the 1940s, '50s, and '60s, which had generated smaller returns for investors but raised income levels across all classes of society.



http://www.shmoop.com/reagan-era/economy.html


"When President Reagan entered office in 1981, he faced actually much worse economic problems than President Obama faced in 2009.

1981-1982, with unemployment soaring into double digits at a peak of 10.8%."


LOL

How long did it take Reagan to reduce the unemployme(*)nt rate to below 8%?

01/1981 - Unemployme(*)nt rate 7.5% …. Reagan sworn in.
02/1981 - 7.4%
03/1981 - 7.4%
04/1981 - 7.2%
05/1981 - 7.5%
06/1981 - 7.5%
07/1981 - 7.2%
08/1981 - 7.4% * Reagan CUTS taxes for top 1% and says unemployme(*)nt
will DROP to 6.9%.
09/1981 - 7.6%
10/1981 - 7.9%
11/1981 - 8.3%
12/1981 - 8.5%

01/1982 - 8.6%
02/1982 - 8.9%
03/1982 - 9.0%
04/1982 - 9.3%
05/1982 - 9.4%
06/1982 - 9.6%
07/1982 - 9.8%
08/1982 - 9.8%
09/1982 - 10.1%
10/1982 - 10.4%
11/1982 - 10.8% * Unemployme(*)nt HITS a post WW2 RECORD of 10.8%.
12/1982 - 10.8%

01/1983 - 10.4%
02/1983 - 10.4%
03/1983 - 10.3%
04/1983 - 10.3%
05/1983 - 10.1%
06/1983 - 10.1%
07/1983 - 9.4%
06/1983 - 9.5%
07/1983 - 9.4%
08/1983 - 9.5%
09/1983 - 9.2%
10/1983 - 8.8%
11/1983 - 8.5%
12/1983 - 8.3%

01/1984 - 8.0%
02/1984 - 7.8%


It took Reagan 28 MONTHS to get unemployment rate back down below 8 percent.

 

The CBO Historical Tables indicate that federal spending during Reagan's two terms (FY 1981–8 averaged 22.4% GDP, well above the 20.6% GDP average from 1971 to 2009. In addition, the public debt rose from 26.1% GDP in 1980 to 41.0% GDP by 1988


Growth of employment was slower in the 1980s than in the 1970s, savings rates fell, and the investment share of GDP fell to its lowest levels in the post-war era. There are other factors that can explain all of these developments, but it is pretty hard to make a case that lower tax rates were a major elixir for growth when all the key variables that were supposed to be affected went in the wrong direction.

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Perhaps check their customer base? Just a thought!

 

If it weren't for false premises, distortions and lies, what would right wingers EVER have?

 

The biggest that hurt the Middle Class was NAFTA and Free Trade. You take hundreds and thousands of factories out of the country and millions of good paying jobs, what do you think that's going to do to the country. This guy knows. It shouldn't be that hard to figure out

[video=youtube;Rkgx1C_S6ls]https://www.youtube.com/watch?v=Rkgx1C_S6ls[/video]

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Sorry dad, but I think I've already showed you a bucket full of lies and they didn't come from the Right.

 

Schmoop University as a legitimate source? Why didn't you cite MartianAnalProbes.com?

 

NAFTA created a short term illusionary success as it stimulated cross-border trade, but soon thereafter such benefits were swept away when jobs relocated where labour was cheap. Hence it was as much a free trade in jobs, with corporations seeking more fertile grounds free of high labour costs, pollution controls and high taxes, as a free trade in goods and services.

 

How come it stops at 1984? Lets see what the other four years brought. I remember under Carter the Prime Rate went as high as 21% and think it was closer to 12% under Reagan. Another thing I remember under Carter was high gas prices that also went down under Reagan. Seems I see why you started at 1981 instead of 1980 and stopped at 1984 instead of going to 1988. .Could this be it? " Unemployment fell from a high of 10.8 percent to 5.3 percent under Reagan." That would make it look a heck of a lot better wouldn't it and we wouldn't want to give Reagan any more credit that you have to, that would dampen your attack on Reaganomics. We wouldn't want to show that in his 8 years Reagan cut unemployment to less than half of what it was when he took office.

 

His source is Schmoop University

 

FROM CARTER TO REAGAN TO BUSH
A Statistical Comparison of Presidencies
by Pierre Kim
from the Winter 1993 issue of Policy Review magazine
To subscribe to Policy Review, call (800) 544-4843.

Median family income in final month of term
Carter: $34,765
Reagan I: $34,667
Reagan II: $37,080
Bush: $35,939

Median family income for whites in final month of term
Carter: $36,221
Reagan I: $36,310
Reagan II: $39,065
Bush: $37,783

Median family income for blacks in final month of term
Carter: $20,959
Reagan I: $20,237
Reagan II: $22,374
Bush: $21,548

Rise in unemployment rate during term
Carter: 0 percent
Reagan I: -0.3 percent
Reagan II: -1.8 percent
Bush: 2.1 percent

Rise in unemployment rate for blacks during term
Carter: 0.4 percent
Reagan I: 1.5 percent
Reagan II: -4.2 percent
Bush: 2.0 percent

Unemployment rate in final month of term
Carter: 7.5 percent
Reagan I: 7.2 percent
Reagan II: 5.4 percent
Bush: 7.5 percent

New jobs created during term
Carter: 9,027,000
Reagan I: 7,347,000
Reagan II: 10,431,000
Bush: 968,000

New jobs created for blacks during term
Carter: 1,076,800
Reagan I: 806,000
Reagan II: 1,540,000
Bush: 221,000

Employment in private (non-farm) sector in final month of term
Carter: 80.5 million
Reagan I: 87.3 million
Reagan II: 96.1 million
Bush: 95.9 million

Civilian employment in final month of term
Carter: 99 million
Reagan I: 106.3 million
Reagan II: 116.7 million
Bush: 117.7 million

Average annual real growth rate of domestic spending
Carter: 2.95 percent
Reagan I: 0.87 percent
Reagan II: 0.19 percent
Bush: 7.54 percent

Average annual real growth rate of entitlement spending
Carter: 3.7 percent
Reagan I: 2.5 percent
Reagan II: 0.22 percent
Bush:7.9 percent

Domestic discretionary spending in final year of term
Carter: $205.7 billion
Reagan I: $181.6 billion
Reagan II: $184.1 billion
Bush: $211.9 billion

Domestic entitlement spending in final year of term
Carter: $457.1 billion
Reagan I: $502.6 billion
Reagan II: $505.2 billion
Bush: $653.6 billion

Total domestic spending in final year of term (in billions)
Carter: $662.8
Reagan I: $684.3
Reagan II: $689.3
Bush: $921.9

Average annual real growth rate of domestic discretionary spending
Carter: 1.41 percent
Reagan I: -2.86 percent
Reagan II: 0.38 percent
Bush: 3.60 percent

Pages in the Federal Register of new regulations in final year of term
Carter: 87,012
Reagan I: 50,997
Reagan II: 53,376
Bush: 67,716

Average annual growth rate of gross national product
Carter: 2.5 percent
Reagan I: 2.3 percent
Reagan II: 3.2 percent
Bush: 0.9 percent

Annualized CPI inflation rate in final month of term
Carter: 11.8 percent
Reagan I: 3.5 percent
Reagan II: 4.7 percent
Bush: 3.0 percent

Rise in inflation rate during term
Carter: 6.6 percent
Reagan I: -8.5 percent
Reagan II: 1.2 percent
Bush: -1.7 percent

Rise in misery index (CPI inflation rate plus unemployment rate) during term
Carter: 6.85 percent
Reagan I: -8.6 percent
Reagan II: -0.6 percent
Bush: 0.4 percent

Highest capital-gains tax rate during term
Carter: 49.1 percent
Reagan I: 20 percent
Reagan II: 28 percent
Bush: 28 percent

Net capital gains income by individuals in final year of term
Carter: $23.1
Reagan I: $53.8
Reagan II: $152.8
Bush: $108.8

Federal personal income-tax rate for top brackets
Carter: 70 percent
Reagan I: 50 percent
Reagan II: 28 percent
Bush: 31 percent

Rise in interest rate (long-term government bond rate) during term
Carter: 5.5 percent
Reagan I: -0.7 percent
Reagan II: -2.1 percent
Bush: -2.1 percent

Billions Americans gave to charity in final year of term
Carter: $80.5
Reagan I: $92.5
Reagan II: $119.5
Bush: $124.8

Percentage of high-school seniors who have ever used illicit drugs in final
year of term
Carter: 65 percent
Reagan I: 62 percent
Reagan II: 54 percent
Bush: 47 percent

Average prime rate charged by banks in final month of term
Carter: 18.97 percent
Reagan I: 12.04 percent
Reagan II: 9.3 percent
Bush: 6.5 percent

Budget deficit in final year of term [in billions)
Carter: $119.0
Reagan I: $264.6
Reagan II: $167.2
Bush: $320.2

Deficit as a percentage of gross domestic product in final year of term
Carter: 2.7 percent
Reagan I: 5.3 percent
Reagan II: 3 percent
Bush: 5.5 percent

Gross federal debt in final year of term
Carter: $1.5 trillion
Reagan I: $2.2 trillion
Reagan II: $3.1 trillion
Bush: $4.2 trillion

Net national debt in final year of term
Carter: $1.2 trillion
Reagan I: $1.8 trillion
Reagan II: $2.4 trillion
Bush: $3.2 trillion

Net interest paid on the national debt in final year of term (in billions)
Carter: $103.5
Reagan I: $161.4
Reagan II: $184.1
Bush: $197.4

Interest payments as a percentage of the federal budget (average over term)
Carter: 8.8 percent
Reagan I: 12.3 percent
Reagan II: 14.1 percent
Bush: 14.4 percent

Annual crime rate in final month of term (per 100,000 population) Carter:
5,950
Reagan I: 5,031
Reagan II: 5,664
Bush: 5,897

Dow Jones Industrial Average during term (average of daily closes)
Carter: 862.67
Reagan I: 1,044.78
Reagan II: 1864.45
Bush: 2789.83

Percentage of Americans living below poverty level in final month of term
Carter: 14.0 percent
Reagan I: 14.0 percent
Reagan II: 12.8 percent
Bush: 14.3 percent

Percentage of whites living below poverty level in final month of term
Carter: 11.1 percent
Reagan I: 11.4 percent
Reagan II: 10 percent
Bush: 11.3 percent

Percentage of blacks living below poverty level in final month of term
Carter: 34.2 percent
Reagan I: 31.3 percent
Reagan II: 30.7 percent
Bush: 32.7 percent

Per capita personal income in final month of term
Carter: $15,928
Reagan I: $17,525
Reagan II: $19,048
Bush: $19,826

Per capita disposable income at end of term
Carter: $13,700
Reagan I: $15,292
Reagan II: $16,820
Bush: $17,361

http://www.ifindkarma.com/attic/LEAD/compare

 

Typical, I know BLS numbers I linked is bad, lol

View attachment 33345

 

It looks to me that Blacks did very well under Reagan. How can that be. Aren't they suppose to do better under Democrats?

 

Well Bubba, we;'ve already concluded you're a liar, why would I believe a single word you posit?

Yes, Ronnie took unemployment that was running under 7.5% the previous 18 months (under Carter) of his term into 10.8% in less than 2 years, DESPITE HIS CLAIM TAX CUTS WOULD LOWER IT? HMM


Prime hit 19% under Ronnie TOO...

 

You mean that b*llsh*t OUT OF CONTEXT crap you post? lol


The Whitewashing of Ronald Reagan


A Gallup poll taken in 1992 found that Ronald Reagan was the most unpopular living president apart from Nixon, and ranked even below Jimmy Carter; just 46 percent of Americans had a favorable view of Reagan while Carter was viewed favorably by 63 percent of Americans.

This was before the Hollywood-style re-write of Reagan’s presidency that created the fictional character portrayed during Reagan’s 100th birthday celebration. The campaign was led by Grover Norquist and his “Ronald Reagan Legacy Project,” along with corporate-funded propaganda mills like Heritage and American Enterprise Institute that underwrote hundreds of flattering books to create a mythic hero and perpetual tax-cutter.


http://voxverax.blogspot.com/2011/03/whitewashing-of-ronald-reagan.html

 

Ok buddy, you called me a liar, prove it. These aren't my figures. and I didn't try and hide what unemployment was for Reagan from the start to the finish like you did.

 

The North American Free Trade Agreement: Ronald Reagan's Vision Realized


http://www.heritage.org/research/reports/1993/11/em371-the-north-american-free-trade-agreement



Excerpt from Ronald Reagan's Nov. 13, 1979 announcement of his candidacy for President of the United States


rigins of NAFTA: Ronald Reagan and the North American Union

[video=youtube;hcTPwHY-LpY]https://www.youtube.com/watch?v=hcTPwHY-LpY[/video]

 

Hmmm, so Democrats in power results in lower standards of living. figures.

 

I have already, REPEATEDLY on Dubya's subprime bubble REGULATOR FAILURE!! . BTW, DUBYA WAS THE REGULATOR OF F/F...lol

 

The biggest fraud of the past several decades was perpetrated by the Democrats conning blacks into thinking they give a crap about them.