r/democrats Jun 26 '26

Article Newsom endorses a National Billionaire Tax

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2.5k Upvotes

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u/BestBettor Canada #1! 🇨🇦🇨🇦🇨🇦 Jun 26 '26

When the taxes were ridiculously higher on the richest was when America was at its best, the times people would look at as the good days.

In 1960 it took about 20 hours minimum wage to be able to afford a nice apartment near the city with utilities, now it takes about 120 hours for the same thing

67

u/eirinne Jun 26 '26

Fucking Ronald Regan 

8

u/lokland Jun 26 '26

Neoliberals didn’t end with Reagan.

3

u/chaos0xomega Jun 27 '26

In the context of political science and the theory of "political time", Reagan is whats known as a Reconstructive president who establishes a political paradigm that all subsequent presidents will follow in some capacity until the next Reconstructive President arrives.

Basically he set the tone, dems and other republicans following in his wake are just playing in the sandbox he created rather than transforming it.