Reagan continued, "We didn’t pass it on to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same."
A legacy of freedom is not what is being passed down to our kids. Pew Research found last year that forty percent of millennials believe that "hate speech" should be limited.
Millennial voters are the most pandered to group ever, and they have a decent chance to drive Bernie Sanders to the Democratic nomination. All Bernie Sanders has to do is get around sixty-five percent of the remaining delegates, and he's in. That's the same percentage of remaining delegates that Donald Trump needs to ensure a first-ballot nomination.
Millennial voters have been indoctrinated in a cultural environment and educational system in which it's very likely they have never been exposed to any classical liberal ideas. To them, market forces must be controlled by the state.
The successes of the Reagan-Bush-Clinton era - forty million new jobs and a quadrupling of government revenue - are portrayed as failures. The constant complaint is that since the rich get richer, they are stealing from everyone else. "Trickle down economics has wiped out the middle class!" is the gist of it.
The rich are getting richer, but that is largely because asset values - stocks, real estate - are appreciating. They took a bigger haircut during the last recession than everyone else.
Trickle down economics, also known as supply-side economics, is always called by its derogatory slur and is always portrayed as "tax cuts for the wealthy." The millennial voter is largely unaware that John F. Kennedy was a modern supply-sider, and lowered the top tax rate from 91% to 70%.
Millennial voters seem convinced that increasing wages leads to prosperity. It's the other way around! Millennials know that a lot of economic activity is consumption. What they don't know is that consumption doesn't have a strong multiplier effect. They think that buying a television and putting a little money in Amazon's coffers is going to have a trickle-up effect?
Stronger multiplier effects are found when lowering barriers to production. That's all supply-side is. Lower regulations, and more will be produced. When more is produced, prices are lower and demand is higher.
When taxes are lower, people with capital find productive uses for that capital. It's not being sheltered in municipal bonds or in offshore accounts.
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