teapartysamurai
Gold Member
- Mar 27, 2010
- 20,056
- 2,562
- 290
Those have to be the STUPIDEST "conclusions" ever rationalized! Tax dodgers will stop dodging their taxes!Tax, borrow and spend St Ronnie raised every tax he could think of!
Here is a list of 9/11 Reagan's tax increases.
First term
1. Tax Equity and Fiscal Responsibility Act of 1982
2. Highway Revenue Act of 1982
3. Social Security Amendments of 1983
4. Interest and Dividend Tax Compliance Act of 1983
5. Deficit Reduction Act of 1984
Second term
6. Omnibus Budget Reconciliation Act of 1985
7. Tax Reform Act of 1986
8. Omnibus Budget Reconciliation Act of 1987
True! Reagan as working with Democrat majorites in both Houses and had to make compromises. But the tax cuts he made were the important ones.
The Tax Foundation - Comparing the Kennedy, Reagan and Bush Tax Cuts
As noted:
The share of the income tax burden borne by the top 10 percent of taxpayers increased from 48.0 percent in 1981 to 57.2 percent in 1988. Meanwhile, the share of income taxes paid by the bottom 50 percent of taxpayers dropped from 7.5 percent in 1981 to 5.7 percent in 1988.
A middle class of taxpayers can be defined as those between the 50th percentile and the 95th percentile (those earning between $18,367 and $72,735 in 1988). Between 1981 and 1988, the income tax burden of the middle class declined from 57.5 percent in 1981 to 48.7 percent in 1988. This 8.8 percentage point decline in middle class tax burden is entirely accounted for by the increase borne by the top one percent.
Several conclusions follow from these data. First of all, reduction in high marginal tax rates can induce taxpayers to lessen their reliance on tax shelters and tax avoidance, and expose more of their income to taxation. The result in this case was a 51 percent increase in real tax payments by the top one percent. Meanwhile, the tax rate reduction reduced the tax payments of middle class and poor taxpayers. The net effect was a marked shift in the tax burden toward the top 1 percent amounting to about 10 percentage points. Lower top marginal tax rates had encouraged these taxpayers to generatemore taxable income.
The rich paid more taxes because they got richer. When you consider the total tax percentage from all taxes rather than dishonestly considering only the income tax without considering the increase in income, you get a different picture.
In 1980, according to Congressional Budget Office estimates, middle-income families with children paid 8.2 percent of their income in income taxes, and 9.5 percent in payroll taxes. By 1988 the income tax share was down to 6.6 percent but the payroll tax share was up to 11.8 percent, and the combined burden was up from 17.7% to 18.4%, shifting some of the tax burden from the PROGRESSIVE income tax to the REGRESSIVE payroll tax.
You can blather on, but in that, you just prove everything we have said.
Tax cuts INCREASE REVENUES, because the rich get richer!
You libs just HATE the idea of anyone making more money!
Thanks for proving me right!