Reagan on taxes:

Discussion in 'Politics' started by Dot Com, Feb 14, 2012.

  1. Dot Com
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    Dot Com Nullius in verba Supporting Member

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    Did I pre-judge him? On social issues? I don't think so. On economic issues? Perhaps, to an extent. Here is the Reagan that Kristol at Fox (neocon founder of the PNAC [group that goaded Bush II into Iraq]) doesn't talk about :eusa_whistle:




    What say you given the current President's budget that asks for the people who really, really, really did well financially to pay what they were paying prior to Bush II?
     
    Last edited: Feb 14, 2012
  2. Baruch Menachem
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    Baruch Menachem '

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    That was a pretty consistant deal with him. It was a major issue all through the 70s from the time that the then secretary of the treasury under Johnson noted that large numbers of people with huge incomes were paying no tax at all.

    What does it matter if we have a 70% tax if no one is paying it, and all that money is going to weird stuff?

    Once you get down to a rate of 25% the tax shelters cost more than the tax you would pay on the income. That is the major reason collections increased so much during the reagan years. Money flowed out of shelters into more productive areas of the economy. Which also is the reason that they had times when the economy increased by 10% in one quarter.

    That is the major conservative argument here. Rich folks can manipulate the tax code when rates are high. When rates are lower, they actually try and earn more money
     
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  3. Jroc
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    Jroc יעקב כהן Supporting Member

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    What’s the problem? Reagan wanted to eliminate tax loop whole which is what Republican also want to do with tax reform everybody should pay the same flat rate the rich pay more because they earn more
     
  4. Dot Com
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    Dot Com Nullius in verba Supporting Member

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    Lettuce not forget that many corps pay no taxes at all because of their lobbyists and *cough* "friends" in Congress. Another reason to get to tax-reform immediately after the election.
     
  5. Jroc
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    Jroc יעקב כהן Supporting Member

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    is there an eco in here?
     
  6. g5000
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    g5000 Diamond Member

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    Absolutely. Tax reform is the way to go.

    Since Reagan was President there has been more than one loophole a day added to the tax laws.

    Oh, and you should see the only regret Reagan actually stated in his Farewell Address:

    Then, 12 or so years later, we find Dick Cheney saying, "Reagan proved deficits don't matter." This was followed by 8 years of astronomical spending.

    And now, suddenly, the Republican Party is all heated up over deficits again.

    Flip.

    Flop.
     
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  7. Dot Com
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    Dot Com Nullius in verba Supporting Member

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    They really hate deficits (that they in large part caused- 2 unpaid-for wars, unpaid-for trillion $ Rx plan, tax-cuts during war-time) when they're out of power :clap2:
     
  8. Jroc
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    Jroc יעקב כהן Supporting Member

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    You idiot Reagan tried to get spending cuts but dems in congress screwed him over and there is no comparison to today’s trillion dollar plus deficits they are unheard of in American history
     
  9. DontBeStupid
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    DontBeStupid Look it up!

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    Point of fact.

    Revenue increased 75.8% under Reagan and actually declined from 1982 to 1983.
    Revenue increased 85.6% under Clinton with no annual declines of any kind.

    http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
     
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  10. Jroc
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    Jroc יעקב כהן Supporting Member

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    Wars end, spendng increases go figure:cuckoo:
     

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