Tuesday, February 8, 2011

Naked Capitalism link of the day

Today's link: 10 Things Conservatives Don't Want you to Know about Reagan at Alternet.  I would argue that #3 resulted directly from Volker's fight against inflation, as well as the dismantling of the steel industry and the auto industry as foreign competition caught up with excess out-of-date capacity.  Also, I think calling the Social Security tax increases progressive might be a stretch.  I think something should be said.  Reagan was definitely a serious conservative, but today's so-called conservatives are fools to say taxes should never ever be raised.  As the story points out:
Conservatives seem to be in such denial about the less flattering aspects of Reagan; it sometimes appears as if they genuinely don’t know the truth of his legacy. When liberal activist Mike Stark challenged hate radio host Rush Limbaugh on why Reagan remains a conservative hero despite raising taxes so many times, Limbaugh flew into a tirade and demanded, “Where did you get this silly notion that Reagan raised taxes?

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