It was awful when Reagan dropped the top tax rate from 70% to 28% and
brought inflation down from 13.5% in 1980 to 1.9% in 1986. DURR
Come on DudleyDipshit, tell me more about derivatives that don't have a counterparty.
Carter lowered capital gains top rate from 35% to 28%. Reagan raised the nominal tax rates for the lowest brackets by about 36%, from 11% to 15% in 1986. Reagan didn't 'lower inflation'; the inflation
rate went down, largely due to real incomes falling off. You don't know shit about anything. You've never filled out a tax form either.
Tell us Toddster Dumbass, how many people ever actually paid the top rates? In any case ....
en.wikipedia.org
Regan raised taxes on working people again in 1986, and did away with some of the few deductions working and many middle class people could qualify for as well as raising Social Security taxes, taxing unemployment benefits, increased gasoline taxes, cigarette taxes and others from state tax increases, and siccing the IRS on waitresses. He also allowed so many mergers and monopolies to form any imaginary 'savings' was wiped out in higher prices for nearly everything.
en.wikipedia.org
Tax cuts for the top incomes were paid for by tax increases on the bottom half of wage earners. Stupid people like you don't have a clue.
Junk bond kings and swindlers pissed away whatever tax savings were had, making his 'trickle down' theories rubbish only idiots still buy. Poverty rates increased under Reagan's policies. He did no better than Carter, no surprise since he followed Carter's lead on tax cuts and union busting and deregulation. carter was a Watergate Baby and fvpred big biz, too. Whatever gains made under Reagan's first 4 years were a result of Carter;s policies, not Reagan's; most of Reagan's tax cuts got rolled back almost immediately, in 1982, and again in 1986.
Some of us did well when the inevitable bust came, though; I bought three houses for less than what one cost under Reagan's bubble, and got to laugh at the sellers when they claimed 'democrats caused the collapse'. I kept asking them which Democrat held guns to their heads and made them take out $60,000 mortgages on $12,000 houses, and then walk away from them when the equities fell through the floor. any of then could still make the payments, they just didn't want to, typical of the business ethics of Reaganoughts. I could continue on, but Todd is an idiot, and it doesn't matter what is said, he will just keep posting stuff his Hive tells him to parrot for another 20 or 30 posts.
