How Reaganomics Are Turning America into a Third World Country
The Republican tax plan costs five trillion dollars which is not paid for and will not create jobs or do anything to stimulate the economy.
The whole spectrum from Bernie on the far left of the Democratic Party to Debbie Stabenow sort of in the middle of the Democratic Party to Chuck Schumer and the leadership of the Democratic Party, they have all been seriously out there talking about it.
America is becoming a third-world country. Mike Pence privatized the Indiana toll road to an Australian company. We don't manufacture things here anymore of any of any great consequence.
The average individual income is actually below what it was when Reagan came in. Family income is up slightly but that's because now you've got two and three members of the family who are working.
Reaganism has gutted our country and people know it. That's why they voted for Donald Trump and for Bernie Sanders, why they said 'I want something other than the norm'.
This system is broken and in Trump's so-called tax plan or the Republican's so-called tax plan or maybe you could call it the Goldman Sachs tax plan - because it's coming out of Gary Cohn and Steve Mnuchin, the former head of Goldman Sachs - is not going to benefit anybody as far as I can tell.
In fact, I think it's going to hurt the economy just like giant tax cuts have always hurt the economy. We had the biggest stock market crash since 1929 after Reagan did it in the 80s. Bush did a giant tax cut and it just drove up the deficit and on it goes.
We have to fight back, and fighting back is part information and part activism, informing yourself and informing other people around you and just letting people know this is what's going on. There's something seriously, seriously wrong with this so-called tax plan.