So who's going to foot the bill for everything we need? Even before the Great Recession, the middle class's share of the nation's total income had shrunk. Yet their tax burden had grown. They were paying a bigger chunk of their incomes in payroll taxes, sales taxes, and property taxes than decades before.
Then came the Great Recession--and with it, lower tax revenues. That means all levels of government are squeezed. Obviously, the middle class can't pay more in taxes. But because the Democrats seem to lack the intestinal fortitude to suggest the obvious--that taxes need to be raised on the super rich --we're left with a mess.
Indeed, we are in a mess. And Americans need to be reminded when the seeds of our current mess were planted. Here is a video of the moment that pretty much ensured Ronald Reagan's rise to the White House. And America gradually has been heading down the crapper ever since:
Video: Ronald Reagan Debate With Jimmy Carter
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