Ronald Reagan Talks About Balancing the Budget on "The Tonight show

[Stephanie]

Ronald Reagan talks about balancing the budget on "The Tonight Show" in 1975.

[ame=http://www.youtube.com/watch?v=hDwCTKXCFW4]Ronald Reagan Talks About Balancing the Budget on "The Tonight Show"[/ame]

 

[jillian]

ronald reagan raised taxes 7 times.

 

[Plasmaball]

yay! if we are back to the 80's im buying stock in Apple......and um placing a few bets on things........

 

[Steelplate]

yay! if we are back to the 80's im buying stock in Apple......and um placing a few bets on things........

yeah...no shit, man.....my kingdom for a time machine....well...my worldy possessions anyway...I don't actually HAVE a kingdom...if I did....I wouldn't have to worry about a time machine.....ummmmm....what was this thread about?

 

[g5000]

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.

.

 

[Sarah G]

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.

 

[Stephanie]

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

 

[rightwinger]

Reagan tripled our debt

Guess he didnt follow his own advice

 

[NYcarbineer]

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.

.

Which is what would happen if only part of the Bush tax cuts were extended.

 

[uscitizen]

We went from a creditor nation to a debtor one under Reagan.

 

[uscitizen]

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?

 

[NYcarbineer]

Ronald Reagan talks about balancing the budget on "The Tonight Show" in 1975.

Ronald Reagan Talks About Balancing the Budget on "The Tonight Show"

The deficit was 53 billion in 1975.

It was 155 billion in 1988.

 

[Steelplate]

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?

Yep....he made mortgage interest the only deductible form.....and even that was changed. The cutoff for that interest became higher and higher....effectively disallowing people who have lower mortgages and inexpensive houses to deduct.....in other words....coddling the wealthy and fucking the everyman.

The more things change.....

 

[Seawytch]

What was the tax rate under Reagan?

 

[Annie]

Ronald Reagan raised taxes 11 times? The real story | The Daily Caller

Lots of links at site.

Ronald Reagan may have presided over the most significant tax reform effort in our nation’s 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: It’s factually correct, but misleading, nonetheless.

I’ve decided to examine Reagan’s 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 Reagan’s 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 it’s unhelpful — in fact, it’s a bit misleading — to talk about how many times Reagan raised taxes. That’s because (as noted earlier) tax increases are not created equal. Some are much worse than others. And many of Reagan’s so-called “tax increases” were actually examples of ending deductions.

One might wish to read this too:

TaxProf Blog: WSJ: Obama's 100% Capital Gains Tax Increase Won't Raise Revenue, But Will Hurt Economy, Jobs & Wages

 

[Plasmaball]

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

kids at school teaching you insults as you serve them lunch i see.