What a life-changing day. Was in the heart of D.C, evoking change with hundreds of thousands of other young individuals who are fed up with this country’s outdated policies regarding guns and the accessibility of them, which causes countless unnecessary and horrific travesties. #marchforourlives#Notonemore#FUCKtheNRA#liberal special shoutout to my girl @marisaamico for making the sign for me #godbless
To understand economic trends, historical references are needed. Today’s fiscal climate—which falls under the “neoliberalism” name—leans heavily towards free market policies (corporatism, less regulations or deregulation, and tax cuts across the board or only on the non-wealthy) by both political parties. It started in the 1980s with hard fiscal conservatism pushed by the New Right—such as Ronald Reagan and George HW. Bush—controlled Republican Party; and countered with a centrist “Third Way” alternative pushed by the New Democrat—such as Bill Clinton and Barack Obama—controlled Democratic Party. Both slightly differing yet mostly the same policies holding down the economy for decades up until today. These moderate to fiscally conservative policies aren’t perfect, as they poise problems revolving around income inequality; though they’re essentially the most efficient American fiscal system to date. In the 1930s, (D) Franklin Roosevelt created an artificial economy via his fiscal liberalism: This wasn’t just a high social safety net (that the welfare aspects of would later be gutted by both parties), but a well regulated and highly taxed economy. This, plus the normalized federal budget surpluses of that time led to recessions within the Great Depression; which left it up to WW2 to get the U.S. out of, and into a booming economy. (R) Dwight Eisenhower kept the well regulated economy and budget surpluses, but that and the tax rates eventually led to another recession; which took (D) John Kennedy’s deficits to cure, though those same deficits continuing into Lyndon Johnson’s administration led to rising inflation. And (R) Richard Nixon imposing wage-price controls to curb it only led to stagflation, which trickle-down policies later cured, as it deregulated businesses and cut taxes. The moderate-to-conservative fiscal policies of today may have led to rising income inequality; but it curbs inflation while allowing for GDP growing/unemployment dropping deficits, while—after Reagan/Bush Sr. considering they suffered from large interest, hence multiple tax spikes—keeping consistent tax cuts for the middle class, and often for the large businesses as well.