Poor, not broke
Reader comment on: NYT on Reagan's 100th
Submitted by ben (United States), Feb 6, 2011 13:47
Poor doesn't mean broke. The lower half of the population, taken as a whole does have a lot of wealth even if most would be considered poor. When progressive taxes like the graduated income tax are replaced with regressive taxes such as sales, property and payroll taxes, then the tax burden shifts from the wealthiest to the less wealthy.
Note: Comments are moderated by the editor and are subject to editing.
The Future of Capitalism replies:
Reagan didn't do anything to raise the sales or property tax. And being in the "lower half" of the population income wise is not the same as being poor. It could just mean you are retired, or just entering the workforce, or middle-class.
Other reader comments on this item
Comment on this item