In 1994, we know, Ronald Reagan retired from public life, notifying the world in an open letter that disclosed that he was succumbing to Alzheimer's. It has since been considered the "polite" thing to do to ignore Reagan's words and actions before this retirement. This is a shame. In February of 1993, the New York Times published an editorial by the 40th American President in which he criticized the tax policy of the 42ed. This passage should look eerily familiar to critics of the Obama Administration:
If the new Administration doesn't want to look back as far as the 1980's, maybe it will at least look back at the summer of 1992. Candidate Bill Clinton was promising that, if elected, he would provide a tax cut for the middle class. Now, in less than one month of his Presidency, that promise of a tax cut has not only been broken but it has been reversed into a tax increase for middle-income workers.
During the campaign, Bill Clinton said he would tax only the very rich. Last week, he defined this category as those making $200,000 a year. On Monday, the definition came down to $100,000 and now the "very rich" seems to be anyone making $30,000 a year.
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