Reagan Supported Obama's Buffet Rule Before Obama Did

[starcraftzzz]

Reagan Supported Obama's Buffet Rule Before Obama Did

Two major differences:

1) You don't understand the difference between income and investment income. You tax investment income at income rates and you destroy the economy and balloon unemployment.

I see so according to you in the 50-60 when investment taxes were above 35% the economy tanked and unemployment ballooned, oh wait no during that time America was the most prosperous it ever was.
It is really pathetic how dumbass like you think trickle down works

2) Reagan advocated lower, flatter tax rates without deductions. Obama advocates the more successful you are the more we punish you in every way.

Irrelevant both advocate that millionaires should pay at least the same amount of taxes then poor people, of which the current GOP wants the middle class and the poor to pay significant more taxes then billionaires.

 

[Jroc]

The democrat party sends out talking points and these idiots post them? A 59 second clip of a speech? Post the whole speech, put what Reagan said in context. You people are sad...a bunch of clones. Obama's tax the millionaires is mindless bullshit won't help our deficit problem. We need tax reform not more crony bullshit games

Do you mean by "crony bullshit games" Lyin' Ryan's tax cuts for the rich????

Tax reform means simplification of the tax code no more special deals and special deductions get it? Flat rates for all

 

[Quantum Windbag]

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:

Reagan--No Loopholes For Millionaires - YouTube


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.’”​

Reagan saying he wants to eliminate loopholes and lower tax rates for everyone is the same as Obama saying he wants to pretend that raising taxes on 400 people and getting less than $4 billion a year is going to make things magically better?

 

[starcraftzzz]

Reagan saying he wants to eliminate loopholes and lower tax rates for everyone is the same as Obama saying he wants to pretend that raising taxes on 400 people and getting less than $4 billion a year is going to make things magically better?

Just slightly better which is why republicans oppose it

 

[Procrustes Stretched]

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:

Reagan--No Loopholes For Millionaires - YouTube


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.’”​

 

[Dont Taz Me Bro]

Irrelevant both advocate that millionaires should pay at least the same amount of taxes then poor people

They already do and always have.

 

[Dont Taz Me Bro]

Reagan lowered the top marginal tax rate to 28%, even lower than it is right now.

 

[Procrustes Stretched]

Reagan lowered the top marginal tax rate to 28%, even lower than it is right now.

and started a borrowing spree that gave us the 2007/2008 financial crisis.

a bubble built on debt. check your facts

 

[Procrustes Stretched]

There is what one of the top Supply Side Ideologues of the 70s/80s says...

David Alan Stockman, director of the Office of Management and Budget in the Reagan administration, sat down to discuss the federal debt and the economy.

Read more: David Stockman, Reagan economist, on debt spree

---

there is Carter's year where debt went down, and Reagan starts increasing debt:

History of the United States public debt - Wikipedia, the free encyclopedia

 

[edthecynic]

The democrat party sends out talking points and these idiots post them? A 59 second clip of a speech? Post the whole speech, put what Reagan said in context. You people are sad...a bunch of clones. Obama's tax the millionaires is mindless bullshit won't help our deficit problem. We need tax reform not more crony bullshit games

Do you mean by "crony bullshit games" Lyin' Ryan's tax cuts for the rich????

Tax reform means simplification of the tax code no more special deals and special deductions get it? Flat rates for all

Maybe that's what it means to you, but to Lyin' Ryan it means eliminating deductions for the middle class wage earner, thus raising their taxes, and cutting the top tax rate from 35% to 25% for the wealthy. You can't get any more bullshit cronyistic than that!!!

 

[CrusaderFrank]

I thought Dems hated Reagan because he defeated their home team the USSR?

 

[Jroc]

Reagan lowered the top marginal tax rate to 28%, even lower than it is right now.

and started a borrowing spree that gave us the 2007/2008 financial crisis.

a bubble built on debt. check your facts

Wrong idiot congress never gave Reagan the spending cuts he wanted but his policies help to create trillions of dollars of wealth in this country

 

[CrusaderFrank]

Reagan lowered the top marginal tax rate to 28%, even lower than it is right now.

and started a borrowing spree that gave us the 2007/2008 financial crisis.

a bubble built on debt. check your facts

Obama Deficits > Reagan budgets

 

[edthecynic]

Reagan lowered the top marginal tax rate to 28%, even lower than it is right now.

and started a borrowing spree that gave us the 2007/2008 financial crisis.

a bubble built on debt. check your facts

Wrong idiot congress never gave Reagan the spending cuts he wanted but his policies help to create trillions of dollars of wealth in this country

Wrong liar, St Ronnie REJECTED the spending cuts Tip O'Neill and Bob Dole agreed to because they cut his Star Wars pork barrel boondoggle.

 

[Procrustes Stretched]

and started a borrowing spree that gave us the 2007/2008 financial crisis.

a bubble built on debt. check your facts

Wrong idiot congress never gave Reagan the spending cuts he wanted but his policies help to create trillions of dollars of wealth in this country

Wrong liar, St Ronnie REJECTED the spending cuts Tip O'Neill and Bob Dole agreed to because they cut his Star Wars pork barrel boondoggle.

bingo!

 

[Procrustes Stretched]

Reagan lowered the top marginal tax rate to 28%, even lower than it is right now.

and started a borrowing spree that gave us the 2007/2008 financial crisis.

a bubble built on debt. check your facts

Wrong idiot congress never gave Reagan the spending cuts he wanted but his policies help to create trillions of dollars of wealth in this country

Wealth? His own Budget Director disagrees with you, but we all know what an economic genius you are.

 

[Procrustes Stretched]

Reagan lowered the top marginal tax rate to 28%, even lower than it is right now.

and started a borrowing spree that gave us the 2007/2008 financial crisis.

a bubble built on debt. check your facts

Obama Deficits > Reagan budgets

the peanut gallery lives!!!

 

[Procrustes Stretched]

I thought Dems hated Reagan because he defeated their home team the USSR?

and we loved Nixon because he sold out the two China bs

 

[Quantum Windbag]

Reagan saying he wants to eliminate loopholes and lower tax rates for everyone is the same as Obama saying he wants to pretend that raising taxes on 400 people and getting less than $4 billion a year is going to make things magically better?

Just slightly better which is why republicans oppose it

What is slightly better? What do Republicans oppose? Do you have any idea how many times different Republicans have tried to call for exactly what I said, and that Obama always says they want to cut taxes on the rich in order to support spending cuts in education and Medicare?

Come to think of it, you say the same thing.

 

[francoHFW]

Left Action
So, that Buffett Rule that Republicans are apoplectic about? The one that would make the wealthy pay at least the same tax % as the middle class?

Yeah, it turns out there was a guy you might have heard of who supported it 30 years ago -- RONALD REAGAN.

Check out the video, and make sure to share it. Remember, each time it's shared, a wingnut's head explodes.

Ronald Reagan Was A Freeloading Hippie Socialist Traitor?
Upworthy

So get this. THE Ronald Reagan was a fan of PROGRESSIVE taxation. And there's video to prove it. And it's basically the same as what Obama argues every day.