Looking back to 1972

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 look at 1972.  

1972 Big News Story

The Watergate Scandal

One of the most notable developments of 1972 was President Richard Nixon’s surprise visit to the People’s Republic of China, a communist ally of the USSR. The president was trying to gain additional allies in the increasingly unpopular Vietnam War, which was racing towards an end due to stories and images like “Napalm Girl,” the eventual Pulitzer Prize-winning photo shot by AP photographer, Nick Ut. 1972 was also the year of the Munich Olympics hostage crisis and the Watergate scandal, the break-in at the Democratic National Committee headquarters which ultimately led to the downfall of President Nixon.

Per History.com

The Watergate scandal began early in the morning of June 17, 1972, when several burglars were arrested in the office of the Democratic National Committee, located in the Watergate complex of buildings in Washington, D.C. This was no ordinary robbery: The prowlers were connected to President Richard Nixon’s reelection campaign, and they had been caught wiretapping phones and stealing documents. Nixon took aggressive steps to cover up the crimes, but when Washington Post reporters Bob Woodward and Carl Bernstein revealed his role in the conspiracy, Nixon resigned on August 9, 1974. The Watergate scandal changed American politics forever, leading many Americans to question their leaders and think more critically about the presidency.

1972 by the Numbers

Economic Data from 1972

Grocery Prices from 1972

Personally, I was still too young to remember but it must have seemed very similar to 2019.

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