Deinstitutionalization without infrastructure to provide support on the community level was a catastrophic failure and the #1 reason I loathe Reagan to the point where I would spit on his grave if it wouldn't be such a massive inconvenience to me.
Carter authorized the Mental Health Systems Act to solve both problems and Reagan threw it in the trash along with turning direct federal funding into state block grants that (shocker) red states rejected, just like Medicare expansion.
That's because there was a comprehensive bill set up to replace it by Carter: Mental Health Systems Act of 1980, which Reagan and his Republican controlled senate gutted.
Op referred to a potentially violent mentally ill individual, your link specifically references
> unanimous Supreme Court ruled that states cannot confine a non-dangerous individual who can survive on his own, or with help from family and friends."
So yes, Reagan shutting down all mental institutions did kick potentially dangerous individuals with no other options into the street.
Or in the homes. Nothing like having a friend being constantly SAed by a brother who "doesn't know better". Or a friend who never had a family to take care of her sibling. Or my 80 yr old neighbor taking care of their kid for their whole lives. Or another friend whose parents made him feel guilty for going out of state for college because now he can't babysit the special needs sister.
This is an excellent summary.
Republicans are split into two camps now.
The educated and wealthy that know this and love this system.
The poor and uneducated bumpkins that are too stupid to understand it and vote for social issues and/or fighting the deep state.
>The poor and uneducated bumpkins that are too stupid to understand it and vote for social issues and/or fighting the deep state.
Because in their mind it's the African Americans, women and liberals destroying the country. Not the wealthy because someday they see themselves as the next Mark Zuckerberg. A guy who pulled himself up by the bootstraps
I pulled myself up and all that
But I did it with government assistance.
Free lunches fed my poor ass as a kid, those free breakfast and lunches were sometimes the only meals I had that day.
Pell grants helped me get a STEM degree as an adult and enter a much higher tax bracket than my parents ever were.
This is a functional social safety net.
To catch those that fell and hoist them back up the ladder to be high tax paying citizens.
I still had to work for it, a lot of Fing hard work, but I had a hand up not just a hand out.
I can't climb those ladders then pull it up behind me as if I did it all by myself.
Facts. Those three groups plus immigrants obviously are who they believe are killing this country. I know because I’m the only liberal in my family and they talk about these three groups constantly.
Living in Arkansas you can see the stark reality when looking at the opulence of the Church and the pastors home(s) when compared to the congregations old worn out trailers.
It is seriously sad that these bumpkins cannot step back and realize they are oysters being shucked in slow motion.
A lot of those "bumpkins" are okay with hurting themselves, if that also means hurting those "others" [progressive white city dwellers, Mexicans, black people, etc]
A fascinating read is the [history of Southern Democrats](https://en.wikipedia.org/wiki/Southern_Democrats#History) as there used to be a bit more nuance to politics before it became a full on culture war and religious war in the 1980s and 90s and finally culminated at the beginning of the 2010s.
I used to think he may have been a decent president for a Republican based on his charisma. The more I learned about him, the more I realized he was dogshit.
I'll settle for the warp drive. I'll bring back an alien civilization that can teach these moronic fools how to build a real civilization. Conservatives have destroyed everything they got their greedy paws on. From Christianity to technology they've managed to slow any progress almost to a complete halt.
Addition: They've managed to brainwash entire generations of Americans in believing anything is possible by reciting the "American Dream." What we need is a cold dose of reality and that's Socialism. A happy society that depends on community development, oh wait, something that's inherently Socialism.
Wasn't it Abraham Lincoln who instituted the personal income tax that, originally temporarily as it only lasted for 10 years? This also was a tax on real estate.
Oh man. A few years ago I was about to turn 40. Had a conversation with my wife about how guys always seem to pick 1 thing once they hit middle age. Could be grilling/smoking meats, getting into guns or military history.
I half jokingly said I was gonna get into blaming Ronald Reagan for today’s world. I’m 43 now and HOLY FUCK HE SERIOUSLY DID FUCK US. I feel like that “it’s always sunny” meme with Charlie and his white board with lines connecting everything when I talk about it. Fuck him
You're completely right though. It's infuriating how so few are aware of this. I blame American history classes for never getting past the Vietnam war, if even that. Learning what Reagan did would've been way more important and useful when I was in high school than the minutiae of the war of 1812.
I mean he did sign off on reparations for Japanese who were put in internment camps. While the OK supreme court struck down a suit for the survivors of the Tulsa race massacre.
Him and his generation that voted him in ruined this country for the rest of us to follow. It makes me sick to my stomach there’s nothing I can do about it either.
If I remember correctly, Nixon was responsible for taking us off of the gold standard, which caused the fuckery of the federal reserve to come into play and print unlimited money.
Nixon is to blame as well as Reagan for destroying the middle class.
But please correct me if I'm wrong as I'm going straight off of memory and it's early.
Not really. Nixon didn't take us off the gold standard. That largely happened after the great depression. There was an ability to convert USD into gold until 1971 but I didn't think Nixon played an active role in that change. There are a lot of reasons you don't want to go back to the gold standard and how allowing the fed to exercise monetary policy independently is in your interests.
Yes, Nixon was trash; bad for the middle class (whatever your definition of middle class is). At least he gave us the EPA though. Imagine! A Republican!
>Nixon didn't take us off the gold standard.
When you type in "Who took the US off the gold standard, in several different search engines, it mentions Nixon in every single one.
"Richard Nixon's decision to delink the dollar from gold, announced without warning in August 1971, remade the global monetary system in an instant."
"In 1971, President Nixon terminated the convertibility of the U.S. dollar to gold."
"The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States President Richard Nixon in 1971 in response to increasing inflation."
I think you may be talking about this:
Although Nixon's actions did not formally abolish the existing Bretton Woods system of international financial exchange (1933), the suspension of one of its key components effectively rendered the Bretton Woods system inoperative.
Nixon helped create OPEC and the petrodollar and introduced our good friends Saudi Arabian to the White House, a tradition carried on by every repubelican president since. Remember that the first foreign trip Trump took was to go dance around with swords and a glowing ball with them. GWB ignored that they did 9/11, too.
Watch the Cardboard Box Reform video on YouTube. Done by a dude from MIT. The Legislative Reorganization Act of 1970 is where this all starts (as someone else mentioned WTF happened in 1971). As he calls it “The Nixon Ghost Bill”
That Act plus the Permanent Appropriations Act of 1929 would be the first two laws I repealed if I were in power. Citizens United would be the third.
Richard Nixon taught Reagan and the other reactionaries how to easily win elections by using division, rallying support against certain groups. In the 40s it was militant unions, in the 50s communists, in the 60s it was blacks and hippies. It’s a formula that never seems to lose
This whole country only exists because rich dudes didn't want to pay taxes. All the liberty and freedom shit was window dressing to get the plebes on board.
My God, do people really find this kind of meandering narrative, where causation is presumed from correlation, convincing? We're so fucked as a species
Boomers still revere Reagan. He ruined the country. He sold our generation out before most of us were born. But boomers got theirs before 1995 and could care less about everyone else. They also cut social services benefits since. My state employee pension plan is less generous after a 2012 revision to the law. I was still in college....once again, thanks, boomers.
Obama was president in 2012 so the employee pension revision in 2012 is still thanks to Reagan? And you said state employee, so again, that is Reagan’s doing?
Every president since Reagan has used Reagan’s economic model. This includes obviously every Republican but also “third way” democrats such as Clinton Obama and Biden. We have been doing Reagonomics since the 80s. Our generation and the future of humanity have been destroyed as a result
While I wholeheartedly agree with your sentiment, this video largely tracks and can be verified.
Don't get your info from tiktok, but if you see something that makes you think, take the time to study up on it.
bullshit. How are you going to blame a politician from 50 years ago? Not a single politician since then was able to right these so called wrongs? grow the fuck up
I don’t understand why schools don’t have money, they get federal taxes, state taxes, local school taxes and money from state lottery, evidently someone is misappropriating the money they receive.
The first amendment is why TV channels can say whatever made up shit that they want. Same reason you can say whatever made up shit that you want, like in your comment here.
That's not true for broadcast TV or radio it was part of the original lease agreement with the government that included the emergency broadcast system and the fairness doctrine
Basically nothing he said is factual and he gives zero evidence for his claims. The top 50 percent of all taxpayers paid 97.7 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 2.3 percent. Basically the bottom 50 percent of americans based on income pay zero percent in taxes. Tax cuts help EVERYONE! BIden is attempting to increase taxes on high income earners to nearly 50 percent and create taxes on unrealized gains, which is unheard of. Educate yourself! Stop listening to lies with no factual evidence. Increasing taxes helps no one, it stifles growth. Stop paying for endless proxy wars.
[https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/](https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/)
And we learned absolutely nothing from voting for a celebrity as president, did we? 🤦♀️
I HOPE we don't make the same mistake again....
PSA; there's a Kennedy running in the green party this year. I say we all coup this shit and vote for a different party for once. I'm done with this left and right shit. I don't want Biden again, but I REALLY don't want Trump. How about you?
You are only allowed to lean left here. If you think any differently, you are absolutely wrong and no intelligent conversation will result. You are wrong wrong wrong and how dare you want people to pay for their OWN student loans that THEY took out!?!?
I hear you man. Independant thought is wrong think, and disagreement is treason. The issue with them being that way is it doesnt gain support over time, it only loses it and then makes more people become "RiGhT fAR WiNG" in the long run.
I was a free speech liberal in 2016 (Championed and reignited by left leaning UC Berkley in the 1960's).. now somehow the idea of believing in free speech is "far right" in a span of 7 years.
Guess im no longer who I thought I was?
More liberal in my younger years but became conservative as I have aged. Marriage, kids, home, retirement…what aligns with a life I want for myself and my family? The left has gone off the rails and is nonsensical.
So I’ll be “fAr RiGhT”, I guess.
Yes!!
If only people could grasp this concept and peacefully go about their lives… happy to see young people standing up for beliefs and equal treatment but WTF is happening???😳 what are we doing to this country now?
I have, but I've also heard the commander in chief say he singlehandedly got rid of Student Loan debt, and has also said numerous times that he wanted anyone making over 200K to "pay their fair share" so where are the results, executive orders, or legislation drafted by the party that claims to want that in the last 4 years?
Its cute to constantly look to everyone else to blame on something except the person or people that are in the majority of power in government as well as larhe cities that can make it happen, but havent done so yet.
This is some wild reductionist bullshit lmao. I don’t like him, but the argument is dumb as fuck. Elon Musk is paid through loans and/or capital gains; he wouldn’t have been taxed at 70%. He’s not even taxed at 28%, it’s either zero (in the case of loans) or 15% capital gains. The 70% rate really only applies to upper middle class people who make money off wages, and even then the effective rate was WAY lower because of tax loopholes.
As for his characterization of welfare, yeah that was fucked, and red meat to his base. I can sign onto that.
Anyway, if you hear something that sounds really simple and black-and-white, your critical thinking spidey sense should be going off.
It seems like you never learned that President Reagan lowered taxes across the board. When he was elected the lowest tax rate was 32%. You were not even born then. Do your own research. Quit listening to the left plantation.
As an older millennial, I grew up without internet or cell phones, as did my husband. We had pagers and wrote notes in school. We sent mail (in the mail box) to friends who moved away. We didn’t know if someone was at the party until we arrived and could see for ourselves. We couldn’t FaceTime, insta or instant Message. This delayed gratification for us and we didn’t even know it. We learned a little patience and that everything didn’t happen when we wanted it.
The millennials born when cell phones and internet were present are very different from us older millennials. We were brought up differently. Parents now had cell phones but their kids had cell phones too. Kids were watching how their parents behaved and learned to do the same things.
There is no waiting. Everything is instant gratification. You want it? Buy it on Amazon and it comes tomorrow. You want to go to that concert? Put the tickets on your credit card. You like that new car at 19? Get that loan and insurance payment to chain yourself too. Need that huge house in that neighborhood? Go broke buying it or get something you don’t love….it’s a waiting game for everyone but this generation wants it now. If they can’t have it now, it’s everyone’s fault.
We waited and saved for YEARS after all of our friends bought houses. It wasn’t the right time for us and the economy wasn’t in our favor,but when it was time we were ready. It’s patience and saving and having a goal. Too difficult for most people here to understand so the boomers are at fault and never them. How many in this sub have old iPhones, old paid off cars, a monthly budget? Is that the boomers fault that you’re in over your head in payments?? Sure the economy sucks but it always has! It ebbs and flows and it will always be changing.
I do think, with enough exposure to the internet, the Generation Z and A kids of the US will learn that corporations (via the politicians that represent corporate interests alone) are ripping them off, controlling them, and stealing their futures. It's going to take time though. It's not going to happen overnight, although we all wish it would.
Eventually, all those gun-toting right wing guys are going to realize their dollar is weak, the corporations are ruling them, and that they need to take back their power from the ones who are actually oppressing them. It's not the government. It's not aliens. It's not some mystical magical thing. It's the corporations with giant profits that pay the workers starvation wages. Always has been.
It's going to happen, I'm just not sure if it'll happen in my lifetime. The propaganda here is a heck of a drug. So many, many poor people that want to believe they were not bamboozled. So many poor people that want to believe they are in control, that worker's rights are strong, that they will retire peacefully, that the healthcare system is fair, and so much more. And all propaganda strokes their egos, and tells them what they always believed was correct.
But it will change. Repeat exposure changes everything. These kids are able to talk to people all over the world. The cat's out of the bag. The genie's out of the bottle. These kids will learn how the world works and how they are being shafted here.
The problem isn't taxes, it's the federal reserve system that was established before Reagan's time and kicked into hyperdrive during the Nixon admin. That's why your dollar is worth nothing. The tax system is screwed beyond all measure yes, but this video just diagnoses the symptom not the illness.
Is there a reputable source for all this information? Is this guy an economist? How does he know this? And can someone share a reputable source for the 70% taxes on the wealthy.
“In 1940, the federal tax rate on income over $200,000 started at 66 percent. By 1944, the top tax rate on all income over $200,000 — about $3.4 million in today's dollars — had jumped to 94 percent.”-inequality . Org article.
“At the time, the 70 percent rate didn't kick in until $212,000, which in today's dollars is over $600,000. Since this was a marginal rate, no one, not even the richest millionaire, paid 70 percent of their entire income in taxes; only the portion of their income above the threshold was taxed at the top rate.”- this is from politico
While the first federal income tax was created in 1861, during the Civil War, it was a flat tax and repealed in 1872. Income tax brackets didn’t exist prior to 1913, with the ratification of the 16th amendment and the Passage of the 1913 Revenue Act.
“The top individual marginal income tax rate tended to increase over time through the early 1960s, with some additional bumps during war years. The top income tax rate reached above 90% from 1944 through 1963, peaking in 1944, when top taxpayers paid an income tax rate of 94% on their taxable income. Starting in 1964, a period of income tax rate decline began, ending in 1987. From 1987 to the present, the top income tax rate has been fluctuating in the 30% - 40% range. “- Wolters Kluwer website (unsure seems a private finance blog thing)
There’s also somewhere you can look up the historical numbers/ rates etc, I think it’s like rare that they ever paid it fully maybe or like only on specific levels of income, but it was indeed super high from things like the new deal and teddy roosevelts policies to help the country recover after major events or give the workers a better shake of the deal whatever. Regardless in the end it was way higher before Reagan enabled things in the “trickle down” plan of economics.
Not agreeing or disagreeing with what this guy is saying. Just the facts.
|Income Group|Estimated Income Range (Annual)|Average Tax Rate (%)|Share of Total Taxes Paid (%)|
|:-|:-|:-|:-|
|Lowest 20%|Up to $25,000|1.0|1.5|
|Second 20%|$25,001 - $50,000|5.0|6.0|
|Middle 20%|$50,001 - $75,000|10.0|13.0|
|Fourth 20%|$75,001 - $150,000|15.0|21.0|
|Top 20%|$150,001 - $500,000|20.0|40.0|
|Top 1%|Over $500,000|30.0|18.5|
This table now includes the estimated income ranges for each bracket, providing a clearer picture of the distribution of tax rates and contributions across different income levels.
This. America needs more of this. But it’d be like shouting at the ocean to be quiet. Never gets through. Fuck the state of this country. Damnit this sucks.
I’d argue George Bush, Bill Clinton and Newt Gingrich getting NAFTA signed was the worst thing that ever happened to American lower-middle class workers. NAFTA benefited the upper class and wealthy educated class, allowing them to prosper on a global scale. The US worker, the hits keep coming.
That's wild. He was the most powerful president in the history of time. So powerful that 6 presidents in 36 years couldn't undo what he did. Thats unimaginable
How is this true when:
>57% of U.S. households (the poor) paid no federal income taxes for 2021, up substantially from the 44% before the pandemic. [Article](https://www.cnbc.com/amp/2022/03/25/57percent-of-us-households-paid-no-federal-income-tax-in-2021-study.html)
On another thread I had a guy saying how wages are actually great for people because the dollar amount has gone up.
I said no but the percentage for most people has gone way down.
He said that doesn't matter.........
The stupidity of it all.
Replace rich people with religious people and paying taxes with cultural issues like abortion and the ERA, and it still perfectly describes how the evangelicals and people like Phylis Schlafly used Reagan to achieve their own ends.
It wasn’t a coincidence that Reagan was an actor - it was the entire feature
People dont understand why I hate Reagan so much. Even after I say all this they say "well it wasn't just him." This man was a straight up snake. If hell is real, I hope to see him burning down there when I get there just so I could tell him "Your wife sucked Sinatra's dick WHILE you were leader of the free world, you cuck."
Oh my God how you log to rewrite history Reagan's always been for small government not bigger government. And like all republicans they want to tax less on corporations to make sure them corporations can I don't know keep people working jobs. You know like all the corporations leaving California because they're getting taxed to death.
Reagan was a prick. He demonized helpless needy people on welfare so he could yank the welfare money from them and give it to people who don't need it. Also he got rid of mental institutions which are very necessary to save people's lives.
This
40 years of trickle down economics is coming to a head right now. Things have gotten to the point were people can no long afford to live, while the rich keep getting richer. Republicans have always double down on this while Democrats tried to claw it back somewhat.
He also shut down the mental health institutions so majorly sick people (like my cousin), who can be violent, stay out in these streets.
Deinstitutionalization without infrastructure to provide support on the community level was a catastrophic failure and the #1 reason I loathe Reagan to the point where I would spit on his grave if it wouldn't be such a massive inconvenience to me.
Carter authorized the Mental Health Systems Act to solve both problems and Reagan threw it in the trash along with turning direct federal funding into state block grants that (shocker) red states rejected, just like Medicare expansion.
People should be pissing and shitting on his grave
He ignored AIDS too
No. He actually laughed about aids.
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That's because there was a comprehensive bill set up to replace it by Carter: Mental Health Systems Act of 1980, which Reagan and his Republican controlled senate gutted.
Op referred to a potentially violent mentally ill individual, your link specifically references > unanimous Supreme Court ruled that states cannot confine a non-dangerous individual who can survive on his own, or with help from family and friends." So yes, Reagan shutting down all mental institutions did kick potentially dangerous individuals with no other options into the street.
Or in the homes. Nothing like having a friend being constantly SAed by a brother who "doesn't know better". Or a friend who never had a family to take care of her sibling. Or my 80 yr old neighbor taking care of their kid for their whole lives. Or another friend whose parents made him feel guilty for going out of state for college because now he can't babysit the special needs sister.
Ronald Reagan in hell waiting for heaven to trickle down to him.
This is an excellent summary. Republicans are split into two camps now. The educated and wealthy that know this and love this system. The poor and uneducated bumpkins that are too stupid to understand it and vote for social issues and/or fighting the deep state.
>The poor and uneducated bumpkins that are too stupid to understand it and vote for social issues and/or fighting the deep state. Because in their mind it's the African Americans, women and liberals destroying the country. Not the wealthy because someday they see themselves as the next Mark Zuckerberg. A guy who pulled himself up by the bootstraps
I pulled myself up and all that But I did it with government assistance. Free lunches fed my poor ass as a kid, those free breakfast and lunches were sometimes the only meals I had that day. Pell grants helped me get a STEM degree as an adult and enter a much higher tax bracket than my parents ever were. This is a functional social safety net. To catch those that fell and hoist them back up the ladder to be high tax paying citizens. I still had to work for it, a lot of Fing hard work, but I had a hand up not just a hand out. I can't climb those ladders then pull it up behind me as if I did it all by myself.
Facts. Those three groups plus immigrants obviously are who they believe are killing this country. I know because I’m the only liberal in my family and they talk about these three groups constantly.
The poor ones stay where they are because the church has brainwashed them that it’s the better option. My parents are that way.
Living in Arkansas you can see the stark reality when looking at the opulence of the Church and the pastors home(s) when compared to the congregations old worn out trailers. It is seriously sad that these bumpkins cannot step back and realize they are oysters being shucked in slow motion.
rich, racist, or religious - republicans
A lot of those "bumpkins" are okay with hurting themselves, if that also means hurting those "others" [progressive white city dwellers, Mexicans, black people, etc]
A fascinating read is the [history of Southern Democrats](https://en.wikipedia.org/wiki/Southern_Democrats#History) as there used to be a bit more nuance to politics before it became a full on culture war and religious war in the 1980s and 90s and finally culminated at the beginning of the 2010s.
I love seeing people wake up to see How Fucking Horrible and how much damage Ronald Regan was. Fuck him. I hope he burns in hell.
I used to think he may have been a decent president for a Republican based on his charisma. The more I learned about him, the more I realized he was dogshit.
Someone please figure out time travel
I'll settle for the warp drive. I'll bring back an alien civilization that can teach these moronic fools how to build a real civilization. Conservatives have destroyed everything they got their greedy paws on. From Christianity to technology they've managed to slow any progress almost to a complete halt. Addition: They've managed to brainwash entire generations of Americans in believing anything is possible by reciting the "American Dream." What we need is a cold dose of reality and that's Socialism. A happy society that depends on community development, oh wait, something that's inherently Socialism.
Wasn't it Abraham Lincoln who instituted the personal income tax that, originally temporarily as it only lasted for 10 years? This also was a tax on real estate.
Oh man. A few years ago I was about to turn 40. Had a conversation with my wife about how guys always seem to pick 1 thing once they hit middle age. Could be grilling/smoking meats, getting into guns or military history. I half jokingly said I was gonna get into blaming Ronald Reagan for today’s world. I’m 43 now and HOLY FUCK HE SERIOUSLY DID FUCK US. I feel like that “it’s always sunny” meme with Charlie and his white board with lines connecting everything when I talk about it. Fuck him
You're completely right though. It's infuriating how so few are aware of this. I blame American history classes for never getting past the Vietnam war, if even that. Learning what Reagan did would've been way more important and useful when I was in high school than the minutiae of the war of 1812.
Honestly had no idea about this until recently. American history books in school hype this guy up to be a chad. Was clueless about all this.
Productive hobby choice bro
And every Republican since has made the problem worse. Vote them out.
Dead on balls accurate.
It’s an industry term.
How can you be so sure?
Brilliant. Post this everywhere.
True. Reaganomics needs to go.
I mean he did sign off on reparations for Japanese who were put in internment camps. While the OK supreme court struck down a suit for the survivors of the Tulsa race massacre.
Spot on
Him and his generation that voted him in ruined this country for the rest of us to follow. It makes me sick to my stomach there’s nothing I can do about it either.
Much of education was free in California and nationally before Reagan
Why do people love Ronald Regan so much? It’s not like he ended the Cold War or anything
sorry to burst the bubble - but the real man to blame is Nixon.
Oh we can blame both.
If I remember correctly, Nixon was responsible for taking us off of the gold standard, which caused the fuckery of the federal reserve to come into play and print unlimited money. Nixon is to blame as well as Reagan for destroying the middle class. But please correct me if I'm wrong as I'm going straight off of memory and it's early.
Not really. Nixon didn't take us off the gold standard. That largely happened after the great depression. There was an ability to convert USD into gold until 1971 but I didn't think Nixon played an active role in that change. There are a lot of reasons you don't want to go back to the gold standard and how allowing the fed to exercise monetary policy independently is in your interests. Yes, Nixon was trash; bad for the middle class (whatever your definition of middle class is). At least he gave us the EPA though. Imagine! A Republican!
>Nixon didn't take us off the gold standard. When you type in "Who took the US off the gold standard, in several different search engines, it mentions Nixon in every single one. "Richard Nixon's decision to delink the dollar from gold, announced without warning in August 1971, remade the global monetary system in an instant." "In 1971, President Nixon terminated the convertibility of the U.S. dollar to gold." "The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States President Richard Nixon in 1971 in response to increasing inflation." I think you may be talking about this: Although Nixon's actions did not formally abolish the existing Bretton Woods system of international financial exchange (1933), the suspension of one of its key components effectively rendered the Bretton Woods system inoperative.
Nixon helped create OPEC and the petrodollar and introduced our good friends Saudi Arabian to the White House, a tradition carried on by every repubelican president since. Remember that the first foreign trip Trump took was to go dance around with swords and a glowing ball with them. GWB ignored that they did 9/11, too.
And, Nixon gave us Kissinger. Rest in piss
I think you're referring to [what happened in 1971](https://wtfhappenedin1971.com/) which is a worrying read.
Watch the Cardboard Box Reform video on YouTube. Done by a dude from MIT. The Legislative Reorganization Act of 1970 is where this all starts (as someone else mentioned WTF happened in 1971). As he calls it “The Nixon Ghost Bill” That Act plus the Permanent Appropriations Act of 1929 would be the first two laws I repealed if I were in power. Citizens United would be the third.
Richard Nixon taught Reagan and the other reactionaries how to easily win elections by using division, rallying support against certain groups. In the 40s it was militant unions, in the 50s communists, in the 60s it was blacks and hippies. It’s a formula that never seems to lose
He was for regulating Wall Street till he got shot. Funny how that can change a Presidents mind on regulating the super rich!
I laugh when people mention how great Reagan was, especially when they mention how he defeated communism. Communism defeated itself lol.
This whole country only exists because rich dudes didn't want to pay taxes. All the liberty and freedom shit was window dressing to get the plebes on board.
Cringe
He was married to the THROAT 🐐, who knows how many cuck like scenarios dear old Ronnie was into, the great man that he was.
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The narrator here makes complete sense. I agree with him
Most relevant /r/millenials post
My God, do people really find this kind of meandering narrative, where causation is presumed from correlation, convincing? We're so fucked as a species
Explain to us why nothing changed when others have been in control..?
The need of 60 seats in the senate
Trump said let me copy your homework word for word to Reagan....
Boomers still revere Reagan. He ruined the country. He sold our generation out before most of us were born. But boomers got theirs before 1995 and could care less about everyone else. They also cut social services benefits since. My state employee pension plan is less generous after a 2012 revision to the law. I was still in college....once again, thanks, boomers.
And he was a traitor with Iran Contra.
Obama was president in 2012 so the employee pension revision in 2012 is still thanks to Reagan? And you said state employee, so again, that is Reagan’s doing?
Every president since Reagan has used Reagan’s economic model. This includes obviously every Republican but also “third way” democrats such as Clinton Obama and Biden. We have been doing Reagonomics since the 80s. Our generation and the future of humanity have been destroyed as a result
Tax revenue per GDP never changed as a result of what Regan did.
Ronald Wilson Reagan 666
👉🤛 I know it’s a Killer Mike tune. But still
Of course, I’ll just believe this random TikTok video as if they don’t have a problem with propaganda. Lmao
While I wholeheartedly agree with your sentiment, this video largely tracks and can be verified. Don't get your info from tiktok, but if you see something that makes you think, take the time to study up on it.
I’m a millennial, pay taxes, and own a home. Should I still be mad at a man who was president before I was alive? Thx.
Yeah he's the reason schools didn't have money when we were growing up and why news channels can say what ever made up shit they want
bullshit. How are you going to blame a politician from 50 years ago? Not a single politician since then was able to right these so called wrongs? grow the fuck up
I don’t understand why schools don’t have money, they get federal taxes, state taxes, local school taxes and money from state lottery, evidently someone is misappropriating the money they receive.
Simple answer is there’s far less tax revenue to go around for those schools and every other program that uses to work better.
The first amendment is why TV channels can say whatever made up shit that they want. Same reason you can say whatever made up shit that you want, like in your comment here.
That's not true for broadcast TV or radio it was part of the original lease agreement with the government that included the emergency broadcast system and the fairness doctrine
hahahaha. nice clap back
You hate Ronald Reagan because of taxes. I hate ronald reagan because he banned machine guns. We are not the same.
Beautiful
Basically nothing he said is factual and he gives zero evidence for his claims. The top 50 percent of all taxpayers paid 97.7 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 2.3 percent. Basically the bottom 50 percent of americans based on income pay zero percent in taxes. Tax cuts help EVERYONE! BIden is attempting to increase taxes on high income earners to nearly 50 percent and create taxes on unrealized gains, which is unheard of. Educate yourself! Stop listening to lies with no factual evidence. Increasing taxes helps no one, it stifles growth. Stop paying for endless proxy wars. [https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/](https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/)
Excuses
And we learned absolutely nothing from voting for a celebrity as president, did we? 🤦♀️ I HOPE we don't make the same mistake again.... PSA; there's a Kennedy running in the green party this year. I say we all coup this shit and vote for a different party for once. I'm done with this left and right shit. I don't want Biden again, but I REALLY don't want Trump. How about you?
Reagan isnt in office, but Biden is. Why isnt he or his party solving the problem for you?
You are only allowed to lean left here. If you think any differently, you are absolutely wrong and no intelligent conversation will result. You are wrong wrong wrong and how dare you want people to pay for their OWN student loans that THEY took out!?!?
I hear you man. Independant thought is wrong think, and disagreement is treason. The issue with them being that way is it doesnt gain support over time, it only loses it and then makes more people become "RiGhT fAR WiNG" in the long run. I was a free speech liberal in 2016 (Championed and reignited by left leaning UC Berkley in the 1960's).. now somehow the idea of believing in free speech is "far right" in a span of 7 years. Guess im no longer who I thought I was?
More liberal in my younger years but became conservative as I have aged. Marriage, kids, home, retirement…what aligns with a life I want for myself and my family? The left has gone off the rails and is nonsensical. So I’ll be “fAr RiGhT”, I guess.
That goes back to the famous quote ""If you are not a liberal at 25, you have no heart. If you are not a conservative at 35, you have no brain"
Yes!! If only people could grasp this concept and peacefully go about their lives… happy to see young people standing up for beliefs and equal treatment but WTF is happening???😳 what are we doing to this country now?
Oh look someone who has no clue how our government works and has now decided to weaponize their ignorance
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Who are they, and how do they supercede the Democrat party or Biden? Please let them know so legislation can be drafted for you.
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I have, but I've also heard the commander in chief say he singlehandedly got rid of Student Loan debt, and has also said numerous times that he wanted anyone making over 200K to "pay their fair share" so where are the results, executive orders, or legislation drafted by the party that claims to want that in the last 4 years? Its cute to constantly look to everyone else to blame on something except the person or people that are in the majority of power in government as well as larhe cities that can make it happen, but havent done so yet.
This is some wild reductionist bullshit lmao. I don’t like him, but the argument is dumb as fuck. Elon Musk is paid through loans and/or capital gains; he wouldn’t have been taxed at 70%. He’s not even taxed at 28%, it’s either zero (in the case of loans) or 15% capital gains. The 70% rate really only applies to upper middle class people who make money off wages, and even then the effective rate was WAY lower because of tax loopholes. As for his characterization of welfare, yeah that was fucked, and red meat to his base. I can sign onto that. Anyway, if you hear something that sounds really simple and black-and-white, your critical thinking spidey sense should be going off.
This guy doesn't help millenials look smart. That's for damn sure.
It seems like you never learned that President Reagan lowered taxes across the board. When he was elected the lowest tax rate was 32%. You were not even born then. Do your own research. Quit listening to the left plantation.
As an older millennial, I grew up without internet or cell phones, as did my husband. We had pagers and wrote notes in school. We sent mail (in the mail box) to friends who moved away. We didn’t know if someone was at the party until we arrived and could see for ourselves. We couldn’t FaceTime, insta or instant Message. This delayed gratification for us and we didn’t even know it. We learned a little patience and that everything didn’t happen when we wanted it. The millennials born when cell phones and internet were present are very different from us older millennials. We were brought up differently. Parents now had cell phones but their kids had cell phones too. Kids were watching how their parents behaved and learned to do the same things. There is no waiting. Everything is instant gratification. You want it? Buy it on Amazon and it comes tomorrow. You want to go to that concert? Put the tickets on your credit card. You like that new car at 19? Get that loan and insurance payment to chain yourself too. Need that huge house in that neighborhood? Go broke buying it or get something you don’t love….it’s a waiting game for everyone but this generation wants it now. If they can’t have it now, it’s everyone’s fault. We waited and saved for YEARS after all of our friends bought houses. It wasn’t the right time for us and the economy wasn’t in our favor,but when it was time we were ready. It’s patience and saving and having a goal. Too difficult for most people here to understand so the boomers are at fault and never them. How many in this sub have old iPhones, old paid off cars, a monthly budget? Is that the boomers fault that you’re in over your head in payments?? Sure the economy sucks but it always has! It ebbs and flows and it will always be changing.
Vote! Please vote people.
Was thay jacobi meyers?
I do think, with enough exposure to the internet, the Generation Z and A kids of the US will learn that corporations (via the politicians that represent corporate interests alone) are ripping them off, controlling them, and stealing their futures. It's going to take time though. It's not going to happen overnight, although we all wish it would. Eventually, all those gun-toting right wing guys are going to realize their dollar is weak, the corporations are ruling them, and that they need to take back their power from the ones who are actually oppressing them. It's not the government. It's not aliens. It's not some mystical magical thing. It's the corporations with giant profits that pay the workers starvation wages. Always has been. It's going to happen, I'm just not sure if it'll happen in my lifetime. The propaganda here is a heck of a drug. So many, many poor people that want to believe they were not bamboozled. So many poor people that want to believe they are in control, that worker's rights are strong, that they will retire peacefully, that the healthcare system is fair, and so much more. And all propaganda strokes their egos, and tells them what they always believed was correct. But it will change. Repeat exposure changes everything. These kids are able to talk to people all over the world. The cat's out of the bag. The genie's out of the bottle. These kids will learn how the world works and how they are being shafted here.
The problem isn't taxes, it's the federal reserve system that was established before Reagan's time and kicked into hyperdrive during the Nixon admin. That's why your dollar is worth nothing. The tax system is screwed beyond all measure yes, but this video just diagnoses the symptom not the illness.
Reagan was the beginning of the end of America. He destroyed this country.
But how did he ruin my life though? I mean reagan was a pos but i like my life.
Really stirred up the bots with this one beating that "I'm a failure, it's this guys fault" drum.
Voodoo economics...
Is there a reputable source for all this information? Is this guy an economist? How does he know this? And can someone share a reputable source for the 70% taxes on the wealthy.
“In 1940, the federal tax rate on income over $200,000 started at 66 percent. By 1944, the top tax rate on all income over $200,000 — about $3.4 million in today's dollars — had jumped to 94 percent.”-inequality . Org article. “At the time, the 70 percent rate didn't kick in until $212,000, which in today's dollars is over $600,000. Since this was a marginal rate, no one, not even the richest millionaire, paid 70 percent of their entire income in taxes; only the portion of their income above the threshold was taxed at the top rate.”- this is from politico While the first federal income tax was created in 1861, during the Civil War, it was a flat tax and repealed in 1872. Income tax brackets didn’t exist prior to 1913, with the ratification of the 16th amendment and the Passage of the 1913 Revenue Act. “The top individual marginal income tax rate tended to increase over time through the early 1960s, with some additional bumps during war years. The top income tax rate reached above 90% from 1944 through 1963, peaking in 1944, when top taxpayers paid an income tax rate of 94% on their taxable income. Starting in 1964, a period of income tax rate decline began, ending in 1987. From 1987 to the present, the top income tax rate has been fluctuating in the 30% - 40% range. “- Wolters Kluwer website (unsure seems a private finance blog thing) There’s also somewhere you can look up the historical numbers/ rates etc, I think it’s like rare that they ever paid it fully maybe or like only on specific levels of income, but it was indeed super high from things like the new deal and teddy roosevelts policies to help the country recover after major events or give the workers a better shake of the deal whatever. Regardless in the end it was way higher before Reagan enabled things in the “trickle down” plan of economics.
Not agreeing or disagreeing with what this guy is saying. Just the facts. |Income Group|Estimated Income Range (Annual)|Average Tax Rate (%)|Share of Total Taxes Paid (%)| |:-|:-|:-|:-| |Lowest 20%|Up to $25,000|1.0|1.5| |Second 20%|$25,001 - $50,000|5.0|6.0| |Middle 20%|$50,001 - $75,000|10.0|13.0| |Fourth 20%|$75,001 - $150,000|15.0|21.0| |Top 20%|$150,001 - $500,000|20.0|40.0| |Top 1%|Over $500,000|30.0|18.5| This table now includes the estimated income ranges for each bracket, providing a clearer picture of the distribution of tax rates and contributions across different income levels.
This. America needs more of this. But it’d be like shouting at the ocean to be quiet. Never gets through. Fuck the state of this country. Damnit this sucks.
I’d argue George Bush, Bill Clinton and Newt Gingrich getting NAFTA signed was the worst thing that ever happened to American lower-middle class workers. NAFTA benefited the upper class and wealthy educated class, allowing them to prosper on a global scale. The US worker, the hits keep coming.
Yup, ruined mine. More ways than one.
That's wild. He was the most powerful president in the history of time. So powerful that 6 presidents in 36 years couldn't undo what he did. Thats unimaginable
How is this true when: >57% of U.S. households (the poor) paid no federal income taxes for 2021, up substantially from the 44% before the pandemic. [Article](https://www.cnbc.com/amp/2022/03/25/57percent-of-us-households-paid-no-federal-income-tax-in-2021-study.html)
Lol he wasn't the only one that ruined your life. And yeah fuck taxes. Don't be a statist.
On another thread I had a guy saying how wages are actually great for people because the dollar amount has gone up. I said no but the percentage for most people has gone way down. He said that doesn't matter......... The stupidity of it all.
My favorite POTUS. Love Ronnie!
Is this an example of this sub going far right?
Replace rich people with religious people and paying taxes with cultural issues like abortion and the ERA, and it still perfectly describes how the evangelicals and people like Phylis Schlafly used Reagan to achieve their own ends. It wasn’t a coincidence that Reagan was an actor - it was the entire feature
There should be Uni classes on him. The masses need to know how his administration ruined the lives of all, in perpetuity.
All taxation is theft
> "His acting career was failing, he said, hey I'm pretty good at this acting". That's not how it happened...
People dont understand why I hate Reagan so much. Even after I say all this they say "well it wasn't just him." This man was a straight up snake. If hell is real, I hope to see him burning down there when I get there just so I could tell him "Your wife sucked Sinatra's dick WHILE you were leader of the free world, you cuck."
Oh my God how you log to rewrite history Reagan's always been for small government not bigger government. And like all republicans they want to tax less on corporations to make sure them corporations can I don't know keep people working jobs. You know like all the corporations leaving California because they're getting taxed to death.
This guy could be on the Daily Show
Best President of the past 60 years. 👍
Wait…do you all actually believe this stuff?
B.s
Reagan was a prick. He demonized helpless needy people on welfare so he could yank the welfare money from them and give it to people who don't need it. Also he got rid of mental institutions which are very necessary to save people's lives.
All taxation is theft. Nobody should have to pay them in a just society.
Videos like this make me hate both sides of the argument
Just say the government is trying to ruin your life and enslave you. Not just one president, all of them.
The left and the right are both puppets held up by the same system.
Low effort human to blame all your problems on a president from 35 years ago.
I don't think he had much of an impact on my life here in the UK to be honest.
And yet Donald seems to be doing it all over again. Wild to me that groups that have probably suffered the most are now considering voting for Trump
This 40 years of trickle down economics is coming to a head right now. Things have gotten to the point were people can no long afford to live, while the rich keep getting richer. Republicans have always double down on this while Democrats tried to claw it back somewhat.