Myth: He cut taxes:
Truth: he raised taxes on the middle class and only gave an 11% tax cut to the wealthiest earners. He raised the payroll tax cap, increased the business tax, and raised taxes on the middle class.
Myth: He deregulated.
Truth: He simply granted banks the privelege to embezzle even more. If anything, he regulated even more.
Myth: He supported free trade:
Truth: Nothing could be further from the truth.
Forced Japan to accept restraints on auto exports;
Tightened considerably the quotas on imported sugar;
Negotiated to increase the restrictiveness of the Multi­fiber Arrangement governing trade in textiles and apparel;
Required 18 countries, including Brazil, Spain, South
Korea, Japan, Mexico, South Africa, Finland, Australia, and the European Community, to accept "voluntary re­straint agreements" that reduce their steel imports to the United States;
Imposed a 45% duty on Japanese motorcycles for the ben­efit of Harley Davidson, which admitted that superior
Japanese management was the cause of its problems;
Raised tariffs on Canadian lumber and cedar shingles;
Forced the Japanese into an agreement to control the price of computer memory chips;
Removed third-world countries on several occasions from the duty-free import program for developing nations;
Pressed Japan to force its automakers to buy more Ameri­can-made parts;
Demanded that Taiwan, West Germany, Japan, and Switzerland restrain their exports of machine tools;
Accused the Japanese of dumping roller bearings on grounds that the price did not rise to cover a fall in the value of the yen;
Accused the Japanese of dumping forklift trucks and color picture tubes;
Extended quotas on imported clothes pins;
Failed to ask Congress to end the ban on the export of Alaskan oil and timber cut from federal lands;
Redefined dumping so domestic firms can more easily charge foreign competitors with unfair trade practices;
Beefed-up the Export-Import Bank, an institution dedicated to distorting the American economy at the ex­pense of the American people in order to artificially pro­mote exports of eight large corporations.
Source: http://mises.org/freemarket_detail.aspx?control=489
Reagan basically hurt the Old Right's message and created the New Left by having capitalist rhetoric, while he actually practiced corporatism.
The Old Right needs to team up with the New Left to defeat Obama. If someone like Dr. Paul were to become elected President, then people like Michael Moore would have their heads out of their asses.
Anyone who believes Reagan didn't put the final nail in the coffin of capitalism has their head up their ass.
To deny that capitalism creates more equality of outcome is to say that the majority of people are inferior to the rest.
Just face it, the only time we had Laissez-faire capitalism in this nation was from the time Martin Van Buren created the first Independent Treasury System until right before James Buchanan signed the Morrill Tarriff into law.
Truth: he raised taxes on the middle class and only gave an 11% tax cut to the wealthiest earners. He raised the payroll tax cap, increased the business tax, and raised taxes on the middle class.
Myth: He deregulated.
Truth: He simply granted banks the privelege to embezzle even more. If anything, he regulated even more.
Myth: He supported free trade:
Truth: Nothing could be further from the truth.
Forced Japan to accept restraints on auto exports;
Tightened considerably the quotas on imported sugar;
Negotiated to increase the restrictiveness of the Multi­fiber Arrangement governing trade in textiles and apparel;
Required 18 countries, including Brazil, Spain, South
Korea, Japan, Mexico, South Africa, Finland, Australia, and the European Community, to accept "voluntary re­straint agreements" that reduce their steel imports to the United States;
Imposed a 45% duty on Japanese motorcycles for the ben­efit of Harley Davidson, which admitted that superior
Japanese management was the cause of its problems;
Raised tariffs on Canadian lumber and cedar shingles;
Forced the Japanese into an agreement to control the price of computer memory chips;
Removed third-world countries on several occasions from the duty-free import program for developing nations;
Pressed Japan to force its automakers to buy more Ameri­can-made parts;
Demanded that Taiwan, West Germany, Japan, and Switzerland restrain their exports of machine tools;
Accused the Japanese of dumping roller bearings on grounds that the price did not rise to cover a fall in the value of the yen;
Accused the Japanese of dumping forklift trucks and color picture tubes;
Extended quotas on imported clothes pins;
Failed to ask Congress to end the ban on the export of Alaskan oil and timber cut from federal lands;
Redefined dumping so domestic firms can more easily charge foreign competitors with unfair trade practices;
Beefed-up the Export-Import Bank, an institution dedicated to distorting the American economy at the ex­pense of the American people in order to artificially pro­mote exports of eight large corporations.
Source: http://mises.org/freemarket_detail.aspx?control=489
Reagan basically hurt the Old Right's message and created the New Left by having capitalist rhetoric, while he actually practiced corporatism.
The Old Right needs to team up with the New Left to defeat Obama. If someone like Dr. Paul were to become elected President, then people like Michael Moore would have their heads out of their asses.
Anyone who believes Reagan didn't put the final nail in the coffin of capitalism has their head up their ass.
To deny that capitalism creates more equality of outcome is to say that the majority of people are inferior to the rest.
Just face it, the only time we had Laissez-faire capitalism in this nation was from the time Martin Van Buren created the first Independent Treasury System until right before James Buchanan signed the Morrill Tarriff into law.
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