Reagan Supported Obama's Buffet Rule Before Obama Did

Discussion in 'Economy' started by Star, Apr 11, 2012.

  1. Star
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    73 percent of Americans, including 66 percent of
    Republicans, favor the Buffett rule.




    VIDEO: Reagan Called For An End To 'Crazy' Tax Loopholes That Let Millionaires Pay Less Than Bus Drivers | ThinkProgress


    When President Obama released his plan for “the Buffett rule,” which involves closing tax loopholes and ensuring that millionaires pay their fair share in taxes, he explained that “middle-class families shouldn’t be paying higher taxes than millionaires and billionaires.” “Warren Buffett’s secretary shouldn’t pay a higher tax rate than Warren Buffett,” he said.

    Ever since, many Republicans have been attacking Obama for inciting “class warfare.” “It looks like the President wants to move down the class warfare path,” said House Budget Committee Chairman Paul Ryan (R-WI). “I don’t think I would describe class warfare as leadership,” agreed Speaker of the House John Boehner (R-OH).

    However, if calling for an end to millionaires having lower tax rates than their secretaries is class warfare, Obama is only the latest class warrior to occupy the Oval Office. In a June 6, 1985 speech at Northside High School in Atlanta, Georgia, then President Ronald Reagan explained that tax loopholes allowing a millionaire to pay lower taxes that a bus driver were “crazy,” because they allowed the “truly wealthy to avoid paying their fair share”:
    We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy. [...] Do you think the millionaire ought to pay more in taxes than the bus driver or less?
    Watch Obama and Reagan’s remarks, side by side:

    [ame="http://www.youtube.com/watch?v=cgbJ-Fs1ikA&feature=player_embedded"]Reagan--No Loopholes For Millionaires - YouTube[/ame]


    When Reagan asked the crowd whether millionaires should be paying more or less in taxes than a bus driver, the crowd resoundingly responded “more!” Reagan also told an Illinois crowd about a letter he had received from a man who said that tax loopholes allowed him to pay a lower tax rate than his secretary. “He wrote me the letter to tell me he’d like to come to Washington and testify before Congress as to how that’s possible for him to do and why it is wrong,” Reagan said.

    A recent Daily Kos/SEIU “State of the Nation” poll conducted by Public Policy Polling found that 73 percent of Americans, including 66 percent of Republicans, favor the Buffett rule. Remember, it was Reagan who completely equalized the tax treatment of investment income and wage income, which is currently one of the key tax disparities that allows the wealthy to dramatically lower their tax rates.

    As the Center for American Progress’ Seth Hanlon and Michael Linden put it, “in calling for the ‘Buffett Rule,’ Obama is merely calling for a return to basic fairness. He is echoing the very same call that Ronald Reagan made 25 years ago. Given the history, maybe we should be calling it the ‘Reagan Rule.’”



    Given the history, maybe we should be
    calling it the ‘Reagan Rule.’”
     
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  2. Oddball
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    Why is Buffet getting sued for millions in back taxes?
     
  3. Star
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    Are you just another rightwing whiner looking for "gotcha" cheese to go with your whine? Since you're the one bringing up what you believe to be a "gotcha", why don't you explain why a company that Buffet is a shareholder in, is suing the IRS and why the IRS is counter suing and-----and why it is, that you think it's Buffet (Why is Buffet getting sued for millions in back taxes?) that's getting sued by the IRS? Do you agree with the IRS' case? While you're at it, please explain how this catfight between tax lawyers is pertinent to the Buffet/Reagan --tax fairness-- rule?
     
  4. Stephanie
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    Stephanie Diamond Member Supporting Member

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    Left wingers are so "smart" and all that, yet they can't figure out to do a SEARCH on a message board so they don't SPAM with the same damn thread..

    :lol:
     
  5. edthecynic
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    edthecynic Censored for Cynicism

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    I love it, Reagan is the "Father" of the Buffett Rule and Class Warfare!!!

    Obama is more like Reagan than St Ronnie, the mythical Reagan. :rofl::lmao:
     
  6. Star
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    The Buffett Rule won't solve all the revenue problems created by the modern Republican Party, no single thing will but, but the Buffett Rule is a giant leap toward solving our revenue problems.


    Yes! It would seem Reagan is the "Father" of modern Buffett Rule, but that would make Thomas Jefferson the Grandfather of the Buffett Rule. Jefferson recognized, the wealthiest among us reap the most reward from the "American System", investing in infrastructure, education, etc. and therefore have the most to gain by supporting and perpetuating the "American System". Today's Republican Party policies support a plutocracy -- Jefferson would be shocked by today's Republican Party and-----and as for the Great Compromiser and tax raiser Reagan -pewsh!- ------ Reagan would be shunted by today's version of the Republican Party.






    If it can still be preserved, we shall soon see the final extinction of our national debt, and liberation of our revenues for the defence and improvement of our country. These revenues will be levied entirely on the rich, the business of household manufacture being now so established that the farmer and laborer clothe themselves entirely. The rich alone use imported articles, and on these alone the whole taxes of the General Government are levied. The poor man who uses nothing but what is made in his own farm or family, or within his own country, pays not a farthing of tax to the general government, but on his salt; and should we go into that manufacture also, as is probable, he will pay nothing.

    Our revenues liberated by the discharge of the public debt, and its surplus applied to canals, roads, schools, etc., the farmer will see his government supported, his children educated, and the face of his country made a paradise by the contributions of the rich alone, without his being called on to spend a cent from his earnings. However, therefore, we may have been reproached for pursuing our Quaker system, time will affix the stamp of wisdom on it, and the happiness and prosperity of our citizens will attest its merit. And this, I believe, is the only legitimate object of government, and the first duty of governors, and not the slaughter of men and devastation of the countries placed under their care, in pursuit of a fantastic honor, unallied to virtue or happiness; or in gratification of the angry passions, or the pride of administrators, excited by personal incidents, in which their citizens have no concern. -- Excerpted from a letter by Thomas Jefferson to Gen. Kosciusko, 1811
     
  7. sealybobo
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    sealybobo Diamond Member

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    I was going to post this yesterday but I forgot.

    And for you righties who don't like the source that this came from? Don't expect Fox or Rush to tell you this stuff. Blowing off information from the left just proves you have been brainwashed by the right wing/corporate/mainstream media.
     
  8. Oddball
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    Oddball BANNED Supporting Member

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    Man...The desperation must be getting to panic levels, to try and compare Boiking to Raygun. :lmao:
     
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  9. sealybobo
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    sealybobo Diamond Member

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    The GOP has moved so far to the right since Reagan that Obama is more like Reagan than any of the GOP candidates. This video proves it. If Reagan said that today, he wouldn't even get the GOP nominee.
     
  10. Stephanie
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    Stephanie Diamond Member Supporting Member

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    My gawd, now they are attacking dead people..

    I see their Dear leader said something about Reagan, so the Useful tools fall in line and bore us with it here..

    baaaa baaa
     

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