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Reagan raised federal taxes eleven times


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Reagan raised federal taxes eleven times

Okay, Ronald Reagan cut tax rates more than any other president – with a big asterisk. Sure, the top rate was reduced from 70% in 1980 all the way down to 28% in 1988, but while Republicans typically point to Reagan’s tax-cutting as the right approach to improving the economy, Reagan himself realized the resulting national debt from his revenue slashing was untenable, so he quietly raised other taxes on income – primarily Social Security and payroll taxes - no less than eleven times. Most of Reagan’s highly publicized tax cuts went to the usual Republican handout-takers in the top income brackets, while his stealth tax increases had their biggest impact on the middle class. These increases were well hidden inside such innocuous-sounding packages as the Tax Equity and Fiscal Responsibility Act of 1982, the Deficit Reduction Act of 1984 and the Omnibus Budget Reconciliation Act of 1987. Leave it to a seasoned actor to pull off such a masterful charade.

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It was boom time during Reagan. Even slacker layabout dems had jobs. Only the worst dem. sluggo was unemployed. Money was rolling into the middle class. Boom lasted right through Slick Willie.

Not the way i remember it. I was 14 when Reagan was first elected. I was getting up at 4am every morning to deliver newspapers because my mother charged me rent.

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I'm still paying off Reagan's deficit with my tax dollars. How many more decades should I pay?

 

How is that possible?

 

Didnt we have surplus under Clinton?

Rather than go back 30 years how about talking about 8 years ago.

 

Obama stated that $10 trillion was irresponsible...

Its now $20 trillion

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and Gore (the rightful winner) would have wiped out ALL the republiKan National Debt

 

 

9-11 wouldn't have happened....and Gore wouldn't have lied us into Iraq

 

 

We'd be leading the World in Alt Energy, and our Economy would have been going gangbusters!

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and Gore (the rightful winner) would have wiped out ALL the republiKan National Debt

 

 

9-11 wouldn't have happened....and Gore wouldn't have lied us into Iraq

 

 

We'd be leading the World in Alt Energy, and our Economy would have been going gangbusters!

al gore lost and no amount of soiling your panties will change that, 9-11 may not of happened if clinton had not allowed the gore commission to be bought out, we were already in iraq and the democrats were promoting WMD's while slick willie was prez. facts are not kind to you welfare ricky

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and Gore (the rightful winner) would have wiped out ALL the republiKan National Debt

 

 

9-11 wouldn't have happened....and Gore wouldn't have lied us into Iraq

 

 

We'd be leading the World in Alt Energy, and our Economy would have been going gangbusters!

lol

911 sure would have happened

Idk why you people say that

Its a weird talking point that is not based in reality

Just sayin...

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Why did RayGun trounce Mondale so thoroughly? "No new taxes!"

 

Mondale had faith in the intelligence of the people. "Yes, I am going to raise taxes a little. We need to." LOL What a dope. People are idiots. Every politician on earth relearned that lesson from Mondale.

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Jeb Bush defaulted on a $4.56 million loan from Broward Federal Savings in Sunrise, Florida. After federal regulators closed the S&L, the office building that Jeb used the $4.56 million to finance was reappraised by the regulators at $500,000, which Bush and his partners paid. The taxpayers had to pay back the remaining 4 million plus dollars.

http://www.dailykos.com/story/2014/12/18/1352819/--The-Bush-Brothers-are-Bank-Robbers#

 

 

 

Still A Bad Idea –The Conservative ENTITLEMENT Package for the wealtiest 1% and is still producing a dysfunctional economy.

 

We said we didn't want it. Most people didn't even vote for it. In survey after survey, public opinion polls rank a large tax cut as one the least desirable uses of the federal budget surplus. And Republican and Democratic leaders alike have warned the President-select that his tax cut package will never emerge whole from Congress.

But all to no avail. George W. Bush has yet to back off from the monstrous, surplus-draining tax cut proposal that was the cornerstone of his campaign. Now he's even telling us that it's for our own good: His tax cut will cure our softening economy and stave off the threat of recession by "encouraging capital formation, economic growth, and job creation." Even Alan Greenspan, chair of the Federal Reserve Board and a debt-reduction hawk, is prepared to accommodate the Bush plan.

At least one group is happy to swallow the Bush tax cut medicine—"the haves and the haves-more," as Bush referred to his supporters during a fundraiser last year. After all, it is their taxes he will cut. Together, lower income tax rates (with the biggest drop at the top) and the repeal of the estate tax account for nearly three-quarters of the Bush tax cut. Nearly three-fifths of the total benefits of the tax cut package will go to the richest 10% of all taxpayers, and some 43% will go just to the top 1%, those who make more than $319,000 a year and showed average income of $915,000 in 1999.

But no matter what Bush says, his tax giveaway to the wealthy will not inoculate us against recession. Nor are well-to-do taxpayers suffering from over-taxation, as the Bush team insists.

One thing is sure. If the Bush tax cut goes through, social programs that have already been neglected for more than two decades will continue to suffer.

con't: http://www.dollarsandsense.org/archives/2001/0301miller.html
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