I love the 80’s. I live in the past. Duran Duran, the A-team, etc. There are, however, some things I would prefer to leave in the past. Political “compromise” for instance.
Here’s a doubtful article about the relationship between Trump’s tax cuts, today, versus Reagan’s in 1986.
The fundamentals of tax overhaul were strong some 30 years ago.
A popular president, Republican Ronald Reagan, pushed the landmark 1986 measure. Powerful and experienced congressional leaders shepherded the legislation with bipartisan support. Key players had established, trusting relationships.
The situation facing President Donald Trump features none of those advantages. His party is divided and his congressional leadership is weakened after the health care debacle. Key players are inexperienced. Trump has record low approval ratings. Republicans who control all of Washington are planning on going it alone, without help from Democrats.
Now, there isn’t even basic agreement on what revising the tax code is. Trump is promising “massive tax relief for the middle class.” Congressional leaders are pushing an overhaul that would keep gross tax revenues roughly the same – “revenue neutral” in Washington-speak – while clearing away many tax breaks and using the resulting savings to lower rates, with the top brackets getting most of the benefit.
So much is different; so much the same. 50% or 40% – any tax rate above 0% is too high for my tastes. I may be alone in that thought.
Reagan had been in office five years, a veteran at that point. Congress was run by, whatever else they were, professionals. Other than that, things were pretty much the same: in 1986:
Conservatives claimed and agenda they either didn’t believe in or didn’t understand.
Liberals wanted more government in your life and knew how to get it there.
Millions of illegals wanted to stay for a variety of reasons, most the ancient English would not understand.
Terrorists were just starting to think of America as a target. (Back then OBL was a CIA contract employee….).
Ordinary people loved guns; liberals hated and feared them.
Aside from loving guns (and Duran Duran and Alf) the people were largely asleep.
Nothing much has changed. Therein lies the danger of a repeat of history. We could end up with; a little tax reform (some cuts and some increases); amnesty (never to happen again – just like in 1986), and some more gun control.
1986: Reagan: cuts taxes, raises taxes, bans guns, and legalizes illegals. Yay. AP.
Or, given this generation of the GOP, we could see nothing. And, sadly, nothing would be preferable to the awful, historical alternatives.
Okay, back to sleep…