AEIdeas

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Discussion: (6 comments)

  1. we pay LESS taxes and as a direct result we have a trillion dollar deficit and 16T in debt.

    Ronald Reagan was smart enough and principled enough to deal with the realities when the budget went into deficit.

    He gets credit for the tax cuts he did early on but the same people who tout those tax cuts ignore what he did later on when the budget headed into deficit.

    He increased taxes to keep the budget balanced.

    somewhere along the line the GOP has forgotten the second part.

    1. If you call the Tax Reform Act of 1986 increasing taxes, I think you should make the circles of Democratics chat rooms and encourage them to call Boehner’s bluff and see how much we could raise today by reforming the tax code. Also, you should ask them how many dollars of spending cuts (even if they relate to future spending) they will give for each dollar of revenue raised.

      1. ” encourage them to call Boehner’s bluff and see how much we could raise today by reforming the tax code. Also, you should ask them how many dollars of spending cuts (even if they relate to future spending) they will give for each dollar of revenue raised.”

        if Reagan did that and it generated revenue then, why not now?

        re: spending cuts

        I’d like to see the GOP list of “cuts” since they have spent 4 years blathering about “cuts” but have never produced anything of substance other than Ryans bogus effort that does not reach balance until 2030 and by that time the 16T will be 30T.

        let’s see the proposed cuts from the folks who say we have a spending problem and need to “cut”.

        you know this is totally bizarre.

        the GOP says we need to cut but they won’t say what and instead claim it’s up to Obama to name the cuts.

        now how bizarre is that?

  2. No, Reagan naively thought the dems would keep their end of the bargain and cut spending. The deal was 3 in cuts for every 1 in tax increases. He would later rue that the dems in Congress were unscrupulous in their deceit, calling it one of his greatest mistakes.

    Obama isn’t even offering 1 to 1. We have a spending problem buddy. The GOP has forgotten that, even if they are a bunch of whimpering curs.

  3. http://gregmankiw.blogspot.com/2012/11/the-gray-ladys-misleading-headline.html Over my coffee this morning, I read the following headline on the front page of The New York Times: “Complaints Aside, Most Face Lower Tax Burden Than in the Reagan ’80s.” Below it was a graphic comparing average tax rates for various income groups in 1980 and 2010.

    The problem is that Reagan did not become president until January 1981, and his tax policy was not fully implemented until a couple of years later (and arguably not until his second term, when we got very significant tax reform). So the headline should have read, “Complaints Aside, Most Face Lower Tax Burden Than in Carter’s 1980.” That makes the story very different, as 1980 was the year the incumbent Carter was defeated by the challenger Reagan, who was proposing significant tax reduction as a key part of his campaign.

    By the way, the online version of The Times omits the mention of Reagan in the headline. There, the headline is the more accurate “Complaints Aside, Most Face Lower Tax Burden Than in 1980.” If fauxcahontas’ lips are moving she is lying.

  4. Liberals keep saying they want to raise middle-class taxes“…

    Well of course, it costs big money to buy votes…

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