I don't know. Is that "We're better off now than ever before" argument a small canard? And if we are, wouldn't that validate the Federal Reserve's micromanaging the economy? What's happened to wages? I keep hearing that wages are down and have never kept pace with 1970s wages. What's up with that? $15/hour today certainly does not buy you what $15/hour bought you in 1986. In 1986, I was making $37k a year. With that I could afford a few nice vacations a year, a new car every few years, and always with money in bank and uncashed checks in my dresser. Can't claim that today making much higher than $15/hour. And to cite the television thing, the refrigerator thing, or the computer, or car thing as symbols of widely distributed wealth overlooks the fact that those items today are often got on credit; whereas in 1986 they were often got by cash or low interest loans.
Yeah, Reagan talked a good game but his actions as both CA governor and president show it was just that, talk. Both governments under his leadership expanded and increased taxes.
Reagan couldn't carry her jock!
ReplyDeleteI don't know. Is that "We're better off now than ever before" argument a small canard? And if we are, wouldn't that validate the Federal Reserve's micromanaging the economy? What's happened to wages? I keep hearing that wages are down and have never kept pace with 1970s wages. What's up with that? $15/hour today certainly does not buy you what $15/hour bought you in 1986. In 1986, I was making $37k a year. With that I could afford a few nice vacations a year, a new car every few years, and always with money in bank and uncashed checks in my dresser. Can't claim that today making much higher than $15/hour. And to cite the television thing, the refrigerator thing, or the computer, or car thing as symbols of widely distributed wealth overlooks the fact that those items today are often got on credit; whereas in 1986 they were often got by cash or low interest loans.
ReplyDeleteHere here!
ReplyDeleteYeah, Reagan talked a good game but his actions as both CA governor and president show it was just that, talk. Both governments under his leadership expanded and increased taxes.
ReplyDelete