BeardedBear said:
That 80s recession hit working people hardfactories closed, jobs disappeared, and interest rates soared. Then came the real kicker: Reagan's economic policies. Taxes were slashed for the wealthy, union power was gutted, and the rules were rewritten to favor big corporations and Wall Street. In 1980, the top 1% held about 10% of the nation's wealth. Today, they hold over 30%, while the bottom half of Americans own just 2.5%. That wealth didn't disappear... it was scooped up and locked away by people who already had more than enough.
What's breaking this country isn't "wokeness." It's the fact that regular folks are working harder than ever and falling further behind, while billionaires are sitting on private jets, buying politicians, and getting applause on stage next to the president. The political elite and the ultra-wealthy teamed up to pit us against each other. They feed us culture wars while they empty our wallets.
Reagan reduced the top tax rate from 70% to 50% which was a good thing. No sane person could believe anyone should have to pay 70%. In fact, nobody but the envious could believe a 50% rate is appropriate. As I recall, it was later lowered to like 28%. That is high enough. The bottom half pay almost no income tax, many of them are unambitious and content to live off the government tit, so they are unlikely to have much wealth.
Who, besides you, gets to decide when people have "more than enough" anyway?
And your comments about billionaires, you do know there are less than 900 in the United States?
I don't know how hard "regular folks" are working but if they are falling further behind they might want to take a look at how they spend their money. What they spend, they cannot save. Not saving puts a dent in their ability go grow their wealth.
In this country, those who want to accumulate wealth can do so. They have to get the proper skills, work hard, work smart, put in a lot of hours, take a lot of risk, but if they do these things and are smart about what they are doing and what they want, they can accumulate a lot of wealth. Have seen it over and over and over again. It is much easier though, to point fingers at billionaires and say they are to blame.
