Looking back to 1970

We look forward not back 

Does your accountant seem obsessed with last year? If you want to legally pay less in taxes, you need a professional who looks forward. Relax Tax helps our clients focus on planning for a better future, and not the past. If we want to look back at anything, we thought it might be fun let our blog look back at what we learned in the last 50 plus years. You can get a FREE COPY of the entire guide at back.relaxtax.com. Now lets take a look at 1970 where people were excited about putting the 60's behind them. 

1970 Big News Story

The Kent State Massacre

The median home price fell in 1970. This price decline was one of the results of a recession that hit the country, which lasted from December 1969 until November 1970. 1970 was also the year the Ohio National Guard opened fire on students at Kent State University, killing four and wounding nine. In spite of the economic and social turmoil, 1970 also became famous as the year that the King of Rock ‘N Roll, Elvis Presley, visited President Richard Nixon in the White House.

Per History.com

Four Kent State University students were killed and nine were injured on May 4, 1970, when members of the Ohio National Guard opened fire on a crowd gathered to protest the Vietnam War. The tragedy was a watershed moment for a nation divided by the conflict in Southeast Asia. In its immediate aftermath, a student-led strike forced the temporary closure of colleges and universities across the country. Some political observers believe the events of that day in northeast Ohio tilted public opinion against the war and may have contributed to the downfall of President Richard Nixon.

American involvement in the civil war in Vietnam—which pitted the communists of the northern part of the country against the more democratic south—had been controversial from its beginnings, and a significant segment of the general public in the United States was against the presence of U.S. armed forces in the region.

Protests across the country in the latter half of the 1960s were part of organized opposition against U.S. military activities in Southeast Asia, as well as the military draftIn fact, President Richard M. Nixon had been elected in 1968 due in large part to his promise to end the Vietnam War. And, until April 1970, it appeared he was on the way to fulfilling that campaign promise, as military operations were seemingly winding down.

However, on April 30, 1970, President Nixon authorized U.S. troops to invade Cambodia, a neutral nation located west of Vietnam. North Vietnamese troops were using safe havens in Cambodia to launch attacks on the U.S.-backed South Vietnamese, and parts of the Ho Chi Minh Trail—a supply route used by the North Vietnamese—passed through Cambodia.

1970 by the Numbers

Economic Data from 1970

Grocery Prices from 1970

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