Looking back to 1973

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 1973. 

1973 Big News Story

Roe V. Wade

In 1973, the U.S. withdrawal from Vietnam ended the violent anti-war protests that had become a symbol of the ’60s. The Organization of Petroleum Exporting Countries began an embargo that triggered an oil crisis resulting in long gas lines across the country — if gas was available at all.

Per History.com

Roe v. Wade, the landmark Supreme Court decision that established a woman’s legal right to an abortion, is decided on January 22, 1973. The Court ruled, in a 7-2 decision, that a woman’s right to choose an abortion was protected by the privacy rights guaranteed by the Fourteenth Amendment to the U.S. Constitution. The legal precedent for the decision was rooted in the 1965 case of Griswold v. Connecticut, which established the right to privacy involving medical procedures.

Despite opponents’ characterization of the decision, it was not the first time that abortion became a legal procedure in the United States. For most of the country’s first 100 years, abortion as we know it today was not a criminal offense.

1973 by the Numbers

Economic Data from 1973

Grocery Prices from 1973

Personally, this was too early in my life for me to have any clear memories about when it happened. One thing I am comfortable with is that with the changes in the supreme court, we should expect to hear a lot about this again in 2021 and beyond. 

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