Blues Man
Diamond Member
- Aug 28, 2016
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and yet people still cling to the myth that Reagan cut taxesI was one of the people who saw that increase so yes I was very aware of it. A tax increase that made perfect sense to me quite frankly! Why would I expect to pay half the amount into Social Security and get the full amount out?LOL...so when you lower tax rates and then raise tax rates...have you REALLY passed the largest peacetime tax hike in history? I know that you on the left want to paint it that way but common sense tells me different! So does the level of tax revenues that were raised!Tax revenues as I recall were almost exactly the same as when Carter was in office. As I said before...Reagan essentially revamped the tax code.Do you know that Reagan passed that tax increase on the wealthy by closing loopholes and limiting deductions? It wasn't so much that Reagan increased taxes...what he did was make it harder for the wealthy to avoid paying taxes! That was after dropping the top rate from 70% to 28%! So basically, Reagan revamped the tax code. He gave the wealthy an incentive to invest while at the same time making it harder for them to get out of paying taxes.you don't know that St Ronnie passed the largest peace time tax increase in history do you?Reaganomics was right from the very beginning. Tax cuts have a beneficial effect on working people every time they are used. The same people who came up with 'trickle down economy' are the ones who say milk and math are racist. The media is arguing that the government squandering hard earned money is a great thing. The biggest lie is that tax cuts don't work, the second biggest lie is that only the rich benefit from them. More layers of government and less individual choices is very hard to defend. Again, huge government programs are possible, but most are just as atrocious as the ACA. Not only is it reasonable for conservatives to question how tax money is spent, but the exodus from poorly run blue states accentuates this point.
the result was in increase in tax revenues that off set any tax cuts. He broadened the base.
REagan actually raised capital gains taxes
FLASHBACK: Reagan Raised Capital Gains Taxes To The Same Level As Wage Taxes For First Time
archive.thinkprogress.org
and still passed the largest peacetime tax hikes in history.
the net result was not that people paid any less in taxes they just paid it by a different avenue
I'm not on the left or the right.
and I don't think that income taxes are the only taxes.
you can thank St Ronnie for doubling the amount self employed people pay Social Security taxes. before Ronnie self employed people only payed in the employer portion
bet you didn't know that did you? Those were part of the tax hikes Reagan passed that were not tied to income tax brackets.