r/PoursTea • u/Veshaad Timendi Causa Est Nescire • 21h ago
PoliticalTea đłď¸ The Gipper's legacy...
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u/Historical-Finish564 21h ago
This was when Ronald Reagan invented trickle down theory, so they could piss on poor people which is all that trickled down.
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u/PhatCatTax 21h ago
And the rich knew it was a euphemism for piss when they coined the term. It was literally a joke to them and they gleefully watched as their dumb Republican voters believed it was a good thing.
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u/IWasSayingBoourner 21h ago
It was originally called "horse and sparrow", as in the sparrow gets to eat whatever the horse shits out that isn't too digested already.Â
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u/TAU_equals_2PI 19h ago
It's hilarious that the piss analogy was actually an improvement over the original shit analogy.
Rich people today are so much nicer in their treatment of poor people than they were generations ago. Today, they only want to piss on you.
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u/DeltaFoxtrot144 20h ago
Horse and sparrow economics. Because telling their voters to eat shit was seen as less acceptable than telling them to get pissed on
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u/Complete-Tangelo1532 21h ago
Now a days I call it 'Evaporate Up' because everything is evaporating from our pockets up into theirs
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u/NAU80 21h ago edited 2h ago
The âtrickle downâ was part of the Two Santa Strategy. It is also the reason our debt is so high.
https://www.montecitojournal.net/2023/02/28/two-santas/
Thank you for the award!
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u/AmazingSugar1 19h ago
Wanniski also invented the Two Santa Claus Theory: That Democrats started playing Santa Claus during the Franklin Roosevelt administration, giving out goodies like Social Security and unemployment insurance and later Medicare. Republicans played the role of Scrooge, always trying to âshoot Santaâ in his words. This led to Democratic victories for decades.
He urged Republicans instead to have their own Santa: The Tax Cut Santa. Most of the tax cuts would go to the wealthy Republican donors. A few tax-cut scraps would be thrown to working people â often temporary, with a sunset. Massive PR would hype the minute cuts for workers.
But there was another âbenefitâ for Republicans: By cutting taxes, this raised the deficit and debt, which allowed them to scream that there is no money for âentitlementsâ that the Democratic Santa was giving out. The Republican Santa essentially would shoot the Democratic Santa.
Reaganâs budget advisor David Stockman admitted this was a conscious plan called âstarve the beast.â Republicans have no actual interest in balancing the budget. They just use this story to prevent Democrats from playing Santa with benefits for workers.
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u/gfunk1369 19h ago
It's funny, we have been saying thiss for damn near 50 years yet 30% of people still don't get it.
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u/beckerman67 20h ago
He didnât invent it, he was the FS, or HF, tool that implemented it.
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u/KitchenSad9385 21h ago
His own VP was so skeptical that he referred to the concept as "Voodoo economics".
To be fair, the central idea is not terrible. Couldn't easing taxes on endeavors that make money allow faster growth and eventual increase in tax revenues? Maybe, maybe not.
By the time I studied economics in university, decades of economic data had been collected and analyzed. As much as I hate agreeing with (either) president Bush. This one was right on this topic.
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u/SoylentGrunt 14h ago
Horse and Sparrow. The horse gets first dibs on the grain and the sparrow pecks through the horse manure looking for grain.
Trickle-down economics, also known as trickle-down theory and the horse-and-sparrow theory,\1]) is a term used to describe government economic policies that disproportionately favor the upper tier of the economic spectrum (wealthy individuals and large corporations). The term has been used broadly by critics of supply-side economics to refer to taxing and spending policies by governments that, intentionally or not, result in widening income inequality; it has also been used in critical references to neoliberalism.\2]) These critics reject the notion that spending by this elite group would "trickle down" to those who are less fortunate and lead to economic growth that will eventually benefit the economy as a whole.\3])
While criticisms have existed since at least the 19th century, the term "trickle-down economics" was popularized by Democrats in the US) to derogate Reaganomics and its reduction in the top marginal tax rates
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u/libertarianinus 16h ago
And both parties never voted to get rid of it.
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u/paintballboi07 13h ago
Get rid of what? Trickle down isn't a law, it's just cutting taxes. Biden denounced trickle down, and said it obviously doesn't work, in his economic plan, but he didn't have the Senate votes to raise taxes. 30% of eligible voters vote in the midterms, we're going to need more people to actually participate if they want the government to work for them.
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u/Gomez4Morticia 21h ago
The heritage foundation sure knows how to prop up desperate Hollywood has beens
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u/heyhayyhay 21h ago
God, I hate republicans.
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u/Complete-Tangelo1532 21h ago
And Republicans hate Americans!
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u/Anubis404 20h ago
Not all Americans. Just the ones that aren't rich enough.
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u/MyFocusIsU 21h ago
Reverse it....80% tax on the super rich and stop taking from the social support money.
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u/LetterheadMedium8164 21h ago
Donât forget long-term capital gains used to be taxed as regular income. Start there.
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u/TAU_equals_2PI 20h ago
There's also the step-up in cost basis when stocks are inherited.
That's a complicated way of saying that most of Elon Musk's billions will NEVER get taxed.
You see, Elon Musk says don't bother taxing him now, because you'll get to tax him on his capital gains later when he actually sells the stocks. But he'll probably die before he ever sells most of his stocks. His will leaves the stocks to Elon's descendents, and POOF, all those capital gains taxes disappear completely.
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u/Miserable_Anteater62 20h ago
and remove the cap on SS... 174k and you stop paying into it? Fuck youuuuuuuuuuu
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u/fuckexoticroots 21h ago
Weâve had almost 60 fucking years for the wealth to trickle down. Every year, the rich get more rich and the poor get more poor. this shit isnât fucking working.
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u/LepreKanyeWest 20h ago
Man - when Obama raised the top tax rate from 24.5% to 29.5% - Hannity called him a socialist.
I mean, if you look at it, our history is full of radical leftists. Under Eisenhower, the top tax rate was over 90%! Shit, that commie Nixon had it at 75%.
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u/AnastasiaNo70 Waffles And Pancakesđ§đĽ 16h ago
Eisenhower would be a full-throated socialist these days! Hell, he even warned us of the dangers of the military industrial complex.
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u/Explorers_bub 5h ago
Itâs a shame his legacy is marred by what he and the CIA did like that little coup thing in Iran and all the other places.
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u/cyb0rg1962 18h ago
Eisenhower was a republican I'd vote for. He was a socialist by today's standard in the US.
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u/WhompBiscuits 21h ago
I'm Gen X and I grew up thinking Reagan was a good president, better than Carter, etc. But I was a dumb teenager back then. Looking back, he was actually far worse than what his biggest critics said about him.
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u/blkatcdomvet 20h ago
One of worse presidents in history
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u/PositiveSlight236 20h ago
Agreed, the absolute worst and the beginning of the wretched road our country is going. I lived through his reign & could never understand why he was so beloved.
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u/SleepyLabrador 14h ago
Because of dog whistles. He managed to anger and fire up the southerners and use dog whistles to garner support.
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u/Del897 17h ago
His tax cut on the rich literally turned the US into a debtor nation. He's a loser and a terrible president. Did he do some good things, like his dealings with Gorbachev? Yes. But he broke the law, had hostages held longer to win the election and a host of other things.
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u/Practical-Vanilla-41 1h ago
When he debated Jimmy Carter, he said it was "disgraceful" that the US had double digit deficits. Reagan went on to create historic triple digit deficits.
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u/Renegade346 21h ago
Contempt for the middle class and poor disguised as patriotism.
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u/Ok_Conversation9750 21h ago
Those of us who lived through him being Governor of CA tried and tried to warn everyone, but they just didn't listen...sigh....
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u/billocity 20h ago edited 19h ago
If you make 640k or billions your rate is only 37%. Maybe there should be another upper bracket?
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u/Slighted_Inevitable 15h ago
Wouldnât help, billionaires donât make income. They grow assets
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u/hpstg 12h ago
Loans taken with financial products as collateral should be taxable income.
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u/VisionHx 11h ago
Or we should make loans using financial products illegal and force them to sell triggering capital gains.
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u/Significant-Ad213 20h ago
Him and his throat goat wife did so much damage to our country
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u/AmericanCitizenry 18h ago
Ironically, she was the 2nd Ms Nancy Throat Goat sucking down a president.
Not original!
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u/Sparkingintern 19h ago
He isn't burning in hell hot nor long enough because forever can't possibly be enough for animals like him
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u/AmericanCitizenry 18h ago
He died in 2002 IIRC.
Lived just long enough to really get that post 9/11state funeral.
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u/Effervescentgravy 18h ago
Reagan did so much damage to America that we continue to deal with. I highly recommend this Some More News video about him. https://youtu.be/3WfgGDkWzYU
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u/TrainingSword 16h ago
Heâs also the reason you have batshit crazy homeless people everywhere because he shut down the sanatorium system so now when people have breakdowns and are danger to themselves they get turfed onto the street because thereâs not enough beds and areas to treat them
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u/KitchenSad9385 21h ago
On one hand, Reagan contributed to the erosion of labor unions in most sectors of the economy.
On the other hand, police labor unions are so strong you can get away with murder.
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u/hopeful7321 21h ago
I wrote a six page letter to that SOB. WE ARE where we are because of him. Oh, forgot to mention the Veteran benefits he took away.
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u/AmericanCitizenry 18h ago
He was an actor. He filled a role that benefited him. But he wasn't smart enough to come up with all this.
It was 1968 and Roy Cohn & Lee Atwater had a meeting with The Heritage Foundation...
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u/RefrigeratorNo1160 15h ago
It's also highly likely he had dementia while in office. There's a running theme here. Take an actor with a big personality, one who you likely have dirt on, who is dumb or ill enough to puppet around, then profit.
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u/CarrionWaywardOne 21h ago
Wait? Social security wasn't always taxed? That motherf...
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u/WhompBiscuits 21h ago
Republicans still tax government help. After Covid hit and Trump began sending out stimulus checks, my state legislature taxed that as income. Republicans had (and still have) massive control over our legislature.
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u/alittleboopsie 20h ago
We are in part where we are due to this piss head and his policies.
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u/Keyan_Farlander7 19h ago
Ever hear of Regean Economics or The Reagan Revolution? Funny thing how rich got richer because people voted for that asshole too.
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u/AnastasiaNo70 Waffles And Pancakesđ§đĽ 17h ago
Just imagine the tax revenue if those tax levels were kept.
I hope heâs roasting on a spit in hell.
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u/chunkalunkk 20h ago
All the tax laws and bills from the 60s, 70s, 80s, and 90s need repealed and replaced with realistic tax laws. They're grossly overburdening the middle class, which as we are seeing, is destroying the majority of what's considered "fair" compensation. Lots of grifting and f*ck you, I got mine.
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u/No-Call2227 20h ago
Itâs amazing that anyone who isnât a billionaire thinks the GOP gives one flying f$ck about them.
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u/daviddisco 19h ago
He didn't do anything to make up for it. He simply left us with a massive deficit.
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u/Snoo93550 18h ago
I canât believe people making under a million a year still support Reganâs voodoo economics.
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u/Dense_Description641 17h ago
If you make $10 Million or more, you are an example that a system has loop holes. When you are worth $250 million you are the example of a system being exploited. Anyone worth over $500m is the example that the system is broken.
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u/Electronic_Trifle125 16h ago
I can't believe all the people in this country who pretend he was some great president. He was a joke. And he was senile the whole time.
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u/RicRacer 15h ago
That and selling weapons to Iran for Contras. He forgot all about it. Couldn't remember a darn thing.
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u/ArkhamKnight_1 12h ago
Itâs time for the billionaire tax inclusions. This has been talked about long enough.
Vote for the non-MAGAts this midterm!
And to the dumocrats (with a b??), when we vote you in, do it! All of it! Tax the rich, imprison the pedos, remove the orange bloated one, Nuremberg II for the Congress who acquiesced their authorityâŚ. All of it!!
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u/5EXYA554U 8h ago
and left us billions of $ in debt. just like when he was governor of California. democrats like bill clinton and jerry brown who came after them paid off the debt. both bushes put us in debt too.
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u/broomonic 19h ago
He didnât do it on his own. He had a congress approve it before he could sign it.
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u/Cosmoby24 19h ago
Of course he did !Other scum. Republicans are following in his footsteps. Reagan claimed the wealth would âtrickle downâ weâre still waiting.đ¤Ź
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u/Fire_Lord_Cinder 18h ago
Why does investment income in stocks get capital gains treatment and reduced tax rates but 401k gains are taxed as regular income??
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u/TheFire52 17h ago
It is hilarious that Trump copied Regean verbatim and just won like that. Sure he was not as popular or liked but he took a script copied it, tweaked to modern far right culture, and pasted. And then he won , lost, won, with a larger portion of the Latino vote each time.
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u/Awkward_Squad 16h ago
Another puppet on a string. Wouldnât you love to know who the puppet master is
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u/PepiDoodleDay 16h ago
The second worst president, first place being taken by the orange bag in office.
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u/burtgummer45 15h ago
On April 20, 1983, President Reagan signed the bipartisan legislation into law after it was recommended by the National Commission on Social Security Reform (the Greenspan Commission) to rescue the program from an immediate funding crisis.
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u/sagedemage1972 14h ago
Ronald Reagan and Donald Trump are the most evil US presidents.
I really wished we had Franklin D. Roosevelt as US president again to push for the New Deal 2.
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u/South-Woodpecker112 14h ago
I feel about Reagan, the same way CONservatives felt about Dr King. They love Dr King, now that he's good and dead. That's how I feel about Reagan and his policies that we are still living with. If you want to know who killed the middle class, it was him.
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u/Key-Revenue5983 9h ago
The other thing that most people dont think about is that the income thresholds for taxing your SS income have not changed since 1984 either. Thats right, they have never been indexed for inflation like almost every other thing in the tax code. So over time, the percentage of taxpayers whose SS income is taxable has gone from very little to a vast majority.
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u/ntroopy 5h ago
This is a pretty misleading meme. Reagan didn't cut the top tax rate from 70% to 28% in 1984. It fell from 70% to 50% in 1981 and stayed there in 1984. The cut to 28% came with the 1986 tax reform. Taxing Social Security benefits wasn't a "make up" for tax cuts. It came from the bipartisan 1983 Social Security rescue package, written to keep the trust fund solvent, and the revenue goes back into Social Security and Medicare. What's accurate: Reagan signed the 1983 law that first made benefits taxable, starting in 1984, for higher-income recipients.
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u/AdHairy4360 2h ago
Also made all interest bearing bank accounts taxable. Also CC and car loan interest no longer deductible
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u/Impossible-Board-135 21h ago
People have forgotten this! They think Reagan was so great, he wasnât, he was just a smarter DJT
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u/Valuable_Fee1884 21h ago
Yes, Ronnie was a real work of art. He screwed over Social Security, and the biggest thing I hated about him, was the way he went after student loans and really poured it to the younger generation of college students. I thought they broke the mold, but then Trump showed up, moldy as hell.
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u/pinecity21 21h ago
In previously in California encouraging community college to charge folks to separate the worker bees
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u/clarelucy 20h ago
I left the country for 7 years while Reagan pretended to be president, because I could not stomach having to be here to watch. He was placed in the position for just this action by the wealthy who really run the country.
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u/manCool4ever 20h ago
So the rich were being taxed 70% and this lower tax is about 40 years only? I guess we can easily revert back to the previous tax bracket then!
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u/SbstlStereotype 20h ago
It's amazing what time does to the legacies of these presidents. Or maybe its what time has done to me. Either way, this guy is an asshole.
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u/ChrisBegeman 18h ago
This has got to be the dumbest thing ever, giving you money and taxing the money they give you, money that you have been giving them for decades of your working life.
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u/Ok_Drag5089 18h ago
We never heard about that in the news. Weren't they all commies and pinkos in the news?
I would have thought all those commies would have hated that. But we heard nothing.
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u/gnanny02 18h ago
I feel I pay way too much in taxes but the one part that irritates the heck out me more than anything else is income tax on my social security. This makes zero sense.
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u/Worth_Specific3764 18h ago
this directly fucked every generation then till now from ever owning homes the way they did.
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u/inept_machete 17h ago
Hey dawg, I heard you like taxes so I taxed you and then taxed you on the taxes.
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u/Medicmanii 16h ago
Well. Not for most of us. Most of us don't be taking home 25K in annual social security benefits.
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u/Powerful_Potential_1 15h ago edited 15h ago
He really was a dunce, but he wasn't alone (Billy the Clint joined in later). Good thing the Boomers are having to suffer through those decisions now.
I can't wait to see how they feel when Social Security benefits are cut by 22% after the geriatric politicians they vote for again do nothing to benefit the American people.
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u/lou_init_too 15h ago
man i get the shivers every time i feel it trickling down my back into my crack. thanks,, ray gun
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u/ShallotAwkward2437 15h ago
Donât forget he also made tuition higher in Cali. when he was governor of California.
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u/PretendingImNotAnApe 21h ago
They pretended this guy was a holy saint he literally taxed your social security. To give himself a tax cut.