The Great Taxer

Discussion in 'Economy' started by midcan5, Feb 17, 2008.

  1. midcan5
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    midcan5 liberal / progressive

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    "But Ronald Reagan does hold a special place in the annals of tax policy, and not just as the patron saint of tax cuts. To his credit, he was more pragmatic and responsible than that; he followed his huge 1981 tax cut with two large tax increases. In fact, no peacetime president has raised taxes so much on so many people. This is not a criticism: the tale of those increases tells you a lot about what was right with President Reagan's leadership, and what's wrong with the leadership of George W. Bush.

    The first Reagan tax increase came in 1982. By then it was clear that the budget projections used to justify the 1981 tax cut were wildly optimistic. In response, Mr. Reagan agreed to a sharp rollback of corporate tax cuts, and a smaller rollback of individual income tax cuts. Over all, the 1982 tax increase undid about a third of the 1981 cut; as a share of G.D.P., the increase was substantially larger than Mr. Clinton's 1993 tax increase.

    The contrast with President Bush is obvious. President Reagan, confronted with evidence that his tax cuts were fiscally irresponsible, changed course. President Bush, confronted with similar evidence, has pushed for even more tax cuts.

    Mr. Reagan's second tax increase was also motivated by a sense of responsibility -- or at least that's the way it seemed at the time. I'm referring to the Social Security Reform Act of 1983, which followed the recommendations of a commission led by Alan Greenspan. Its key provision was an increase in the payroll tax that pays for Social Security and Medicare hospital insurance."

    http://query.nytimes.com/gst/fullpage.html?res=9B05E5DE1F31F93BA35755C0A9629C8B63
     
  2. jillian
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    jillian Princess Supporting Member

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    Amazing how the fantasy of what Reagan was like is contradicted by the reality.

    But I'll give him this, the article is right, when he was faced with evidence that there's no such thing as "trickle down", he raised taxes, as did Daddy Bush, to make sure our national bill was paid....

    unlike Baby Bush who "believes the same thing on Wednesday that he did on Monday, no matter what happened on Tuesday".*


    *with thanks to stephen colbert
     
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  3. midcan5
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    midcan5 liberal / progressive

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    Yes, I agree Reagan is interesting as the only thing the republicans praise about him, tax reduction, is the thing he finally realized didn't have the best consequences. Remember David Stockman the whole era is sorta funny especially when I see the young cons worshiping at Reagan's imaginary church.
     
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  4. nibor
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    nibor Senior Member

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    What church was that....................The First Church of the Presumptuous Assumption of the Blinding Light.....................?:rolleyes: :eusa_whistle:
     
  5. Toro
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    Toro Diamond Member

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    It shows you the thrall the GOP is in regarding tax cuts as a panacea for everything that ails us. Its embarrassing.
     
  6. nibor
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    nibor Senior Member

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    I'd say it's all pretty embarrassing.................from the time Reagan's montra PROJECTED the people of this country as the most useless population on earth....................what a guy................the geek shoulda been HORSE WHIPPED!!!!!!!!!!!:rolleyes: :eusa_think:
     
  7. Delbert
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    Delbert Rookie

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    :rofl: Like we're gonna get an unbiased view of Reagan from an opinion piece
    in the NY Times. That was rediculous. Like Bill Clinton had better approval ratings, hahahaha ...Reagan was re-elected with the biggest landslide in
    modern history. Clinton never got half the vote. Then the author wants me
    to believe that Reagan thought he messed up in '81 and lowered taxes too much. Reagan would have lowered taxes even more, if congress could control
    their spending. Reagan was for a balanced budget amendment.
    This is just someones distorted opinion. It made me laugh tho.
     
  8. jillian
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    jillian Princess Supporting Member

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    I think Clinton left office with a higher approval rating. The cult of personality that surrounds Reagan and his platitudes is largely revisionist history and a rose-colored glasses kind of thing. In other words, it's nostalgia.
     
  9. Delbert
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    Delbert Rookie

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    People can conduct polls all day long.
    They are subject to who is conducting the poll, and how the questions are
    worded and or asked. The only poll and telling poll is the general elections.
    How do you explain the landslide in '84. Reagan would have won another
    election by landslide if circumstances allowed. Clinton would never have
    gotten 50% of the vote,.... ever. You crack me up,...but go ahead and
    believe what you want.:rolleyes:

    oh and for the record, I do not consider myself a republican or a democrat
    I voted for Perot in 92. I will vote this year for the candidate who is fiscally
    responsible....too bad Ron Paul wont be on the ballot
     
  10. Toro
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    Toro Diamond Member

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    Reagan lowered taxes, then he raised them.

    That's not debateable.

    http://www.washingtonmonthly.com/features/2001/0301.green.html
     

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