Shawn Hannity, propagandist for Fox News, claims that he's fiscally a Ronald Reagan-type conservative Republican.
I suspect the bulk of Republicans claim that title. I remember living through the Reagan era. Specifically, Reagan was totally fiscally irresponsible. He severely harmed the American economy by lowering the marginal tax rate for the rich from 70 percent to 28 percent. Since Reagan, our government has been incapable of maintaining infrastructure, such as schools, courts, roads, bridges and public structures. These functions safeguarded our economy and our standard of living. Reagan's leadership transformed the U.S. from the world's largest creditor to its largest debtor.
Fundamentally, Reagan applied laissez faire to the poor, but enormous government intervention for the wealthy. It was hard for Reagan to ignore the cost of his tax cuts for the rich. He started taxing Social Security benefits and nearly every year raised workers' taxes, a total of 11 times. The loss of tax revenue from the wealthy caused borrowing and long-term debt.
We do not know how much Reagan knew about what was going on. He took long naps and developed Alzheimer's during his presidency. Today's Republicans defend tax benefits for the wealthiest Americans just as Reagan did.
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