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Rank #8566 on CommentsLevel 152 Comments: Faptastic
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|Date Signed Up:||9/08/2011|
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|#77 - Can someone please explain to me why everyone thinks Reagan wa… [+] (2 new replies)||03/18/2015 on Old people||+2|
#171 - mindyourownbusines (03/18/2015) [-]
Reagan was/is viewed as great for a number of reasons, mostly for being a "regular American" in mindset and actually using the power he was granted by the people for the people.
The Washington mindset, epitomized by Carter's malaise speech, told people the best we could do is learn to live with high inflation, a sluggish economy, and high food and fuel costs. Reagan promised that wasn't true.
Reagan embraced nuclear energy even in the aftermath of 3 mile island, because he had studied the issue and knew that was an anomalous case. He supported the continued development in alternative energies, but fully embraced continued use of existing untapped energy sources like oil, coal, and natural gas (which he indicated would become more efficient to obtain and use as tech improved, which it has).
On the economy: He came into office facing the greatest recession since the great depression – unemployment reached 10.8% in 1982 – but implemented policies that helped the economy rebound to the point that unemployment dropped to 5.2% when he left office. (Also, despite what Democrats claim the long term economy has been better since Reagan, too. From 1948 to 1981 the US had average unemployment of 5.29% while unemployment averaged only 4.81% from the full implementation of Reagan’s tax policies until 2010.)
When the first Reagan Tax-Cuts were implemented in 1983 the poverty rate had risen to 15.3 percent. The rate declined every single year until he left office in 1989 with a poverty rate of 12.8 percent. During that same period, the definition for poverty (in real, inflation-adjusted dollars) was increased by $500, meaning more even people could be included.
And with all this, he actually managed to shift more of the tax burden off the poor and onto the rich! The share of the tax burden paid by the top ten percent increased from 48.0% in 1981 to 57.2% in 1988. And the top 1% saw their share increase from 17.6% in 1981 to 27.5% in 1988.
And, again contrary to what most people know for “fact,” tax revenues increased (w/o inflation). Using benchmarks placed by a dissenting commenter on another forum (1947-1979 vs. 1980-2012) the “low tax rate era” actually collected more (in real dollars) tax revenue. The earlier period saw tax revenue average $758.2 Billion each year, the latter period saw tax revenues of $1.79 Trillion.
There were other reasons people appreciated Reagan’s statesmanship, but to keep this from getting even longer, just consider. When he took office, Mutually Assured Destruction (everybody can nuke everybody, so hopefully they won’t start anything) was the best option against Russia. Reagan worked passionately to gain funding for researching and implementing defense systems to be employed by friendly nations in the region as well as in the US, which eventually helped bring the Soviets to more reasonable negotiating position and eventually bring more openness between the US and Soviet Union.
tl;dr – Reagan believed in (and represented) the best of America through ingenuity, common sense, research, vision and compassion.
#79 - damping (03/18/2015) [-]
OPEC lost some of its control over the world economy, causing the economy to improve greatly in the US. Many think the president directly controls the economy. Along with this, Reagan greatly reduced taxes across the board. Of course people were very happy with this. He was also President when the Soviet Union fell, and is attributed with spending the USSR to death.
The problem was his policies of supply side economics and massive increases in government spending combined with decreases in taxes caused serious long term problems. He was the one who started the massive rise in national debt we have today. It is very easy to lower taxes, but very hard to raise them back up to previous levels.
In summary, he was a great short term president, and a terrible long term one. Most remember the great times when he was in office and fail to attribute many of our current problems to his policies.
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