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yay! if we are back to the 80's im buying stock in Apple......and um placing a few bets on things........
ronald reagan raised taxes 7 times.
Ronald Reagan talks about balancing the budget on "The Tonight Show" in 1975.
Ronald Reagan Talks About Balancing the Budget on "The Tonight Show"
Ronald Reagan talks about balancing the budget on "The Tonight Show" in 1975.
Ronald Reagan Talks About Balancing the Budget on "The Tonight Show"
Good grief, Stephanie. Step into this century why don't you.
ronald reagan raised taxes 7 times.
Only after first cutting taxes considerably. He raised them because the cuts had been too deep, but the end result was a net tax cut.
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Ronald Reagan talks about balancing the budget on "The Tonight Show" in 1975.
Ronald Reagan Talks About Balancing the Budget on "The Tonight Show"
Reagan did away with several personal income tax deductions.
Do you realize that you used to be able to deduct interest paid on credit cards and car loans?
Ronald Reagan may have presided over the most significant tax reform effort in our nations history, yet historical revisionists are attempting to besmirch that legacy while using him as a straw man against modern Republicans.
Saying Ronald Reagan raised taxes is like saying Michael Jordan was a guy who struck out a lot or that he was a failed baseball player: Its factually correct, but misleading, nonetheless.
Ive decided to examine Reagans tax cuts and tax increases in order to set the record straight and end this tomfoolery.
Over the course of his two terms in office, Reagan presided over several changes to the tax code. What is important to remember what is vital to understand is that not all taxes are created equal.
When Democrats or media embrace Reagan for raising taxes X number of times, they are usually engaging in willful obfuscation. This is because they know that when most people hear the words, tax hike, they naturally assume you mean raising income taxes. But tax rates (both nominal and effective) dropped dramatically across-the-board during Reagans tenure.
Not only did the top individual income tax rate go from 70 to 28 percent! but the tax code was also indexed for inflation (this is a big deal, because inflation had heretofore pushed people into higher tax brackets a double whammy.)
Yet the notion that Reagan was a tax-hiker has persisted. In recent years, Republicans ranging from former Sen. Alan Simpson to Reagan aide Bruce Bartlett have been cited noting that Reagan raised taxes (he did.) But their statements are often taken out of context as if to muddy the waters to make it appear that Reagan was a fan of tax hikes.
The typical tactic is to say Reagan raised taxes 11 or 12 times (the exact number depends on whom you ask.) But its unhelpful in fact, its a bit misleading to talk about how many times Reagan raised taxes. Thats because (as noted earlier) tax increases are not created equal. Some are much worse than others. And many of Reagans so-called tax increases were actually examples of ending deductions.
Ronald Reagan talks about balancing the budget on "The Tonight Show" in 1975.
Ronald Reagan Talks About Balancing the Budget on "The Tonight Show"
Good grief, Stephanie. Step into this century why don't you.
only when you do