Wrong. The president doesn’t have the power to raise taxes. That privilege is reserved for Congress. Reagan might have signed tax increases proposed by Congress, but, literally speaking, HE did not raise taxes.
Reagan made the best deal possible in 1982 with democrats in control of congress, but Tip O’Neall reneged on the spending cuts. Ms Stahl was half right on her assertion, but mislead viewers by not telling the full story.
It’s almost like Media Matters is executive producer for 60 Minutes.
Funny how the leftists never want to mention the fact that he massively cut the top tax rate from 70% down to 28%.
What an underhanded approach to rewriting history. This article might as well have said conservatives will have to accept that a lot of socialist legislation was passed under Reagan — which is true, but those laws weren’t composed by Ronald Reagan and certainly were not in line with Reagan’s philosophy. R Reagan was swimming upstream against an intense opposition by the leftists but despite that opposition he made great strides in reducing tax constrictions while clearing the road for economic growth. He inspired optimism and entrepreneurial drive. And, he did it with a smile. Reagan had a way of seeing through to winning a war and not being defeated by each little battle—that was one of his great attributes.
Somehow I don’t think closing loopholes carries the same weight as out and out raising of tax rates.
“proceeded to raise taxes seven out of the eight years he was in office.”
Kinda ironic that the writer never quantifies the accusation.
Reagan was saddled with a heavily Democrat congress who insisted on raising taxes. Liberals always like to create the pretense that Reagan initiated the tax increases when in fact he was hostage to a Dem Congress that insisted on them and had the power to stymie him. The simple fact is he dramatically reduced the top tax bracket from 70% to 28%, Despite a heavily Dem congress insisting on subsequent tax increases Reagan left office with Americans dramatically paying less in net taxes than when he entered office.
Reagan agreed to a compromise which included raising taxes in exchange for the democrats reducing some spending. In typical democrat style, the taxes were implemented, but the spending cuts never materialized. The truth is in the congressional record, should you care to do the research instead of trying to rewrite history.
When Reagan took office in 1980, there were 16 tax brackets ranging from 0% ($3,400 or less) to 70% ($215,400). When Reagan left office in 1988 there were 2 brackets: 15% (income up to $29,750) and 28% for income over $29,750). Coincidentally, revenues increased from $517.1 billion to $909.2 billion. Sadly, the democrat controlled congress spent at an even faster rate (from a -$73.8 billion dollar deficit in 1980 to -$221.2 billion dollar deficit in 1986).
Facts really are stubborn things.
These leftist in the article are all damned liars and here’s why: They know perfectly well the difference between a president signing legislation into law and a president leading legislators to write a particular law. They know perfectly well that Reagan, given absolute power would have turned away the legislation they link to him personally.
First, the author needs some private schooling on how to put together a thought succinctly.
Reagan first led the cause to re-write the tax code to “flat” tax type simplicity and lowered the highest brackets into one. Over the years, as the simplicity was molested, loopholes were closed and indeed, there was likely more of a tax burden on the wealthiest while at the same time making the tax code simpler. There were less nooks and crannies for armies of accountants to exploit, thereby making the whole tax code better.
To make the ridiculous jump that these we all tax increases is absurd and dishonest. Yes, taxes did get raised after they were cut under Reagan's watch, but not at his behest, like (add any democratic president here) did and still does.
Funny how they try to peg tax increases on Reagan but give Clinton credit for welfare reform.
Reagan first cut taxes to help fix a bad economy. then,since raising taxes slows down the economy,once the economy was strong, he raised taxes to prevent it from becoming overheated.
When a liberal says, “let’s not quibble over the definition of” something, you can be sure that is exactly what the liberal has done.
Tax increases do not make the economy grow.
Now, admit that Obama is 100% responsible for this economy being in the doldrums the way it is. No one else, no blaming predecessors, no blaming staff. He’s managed this thing from the beginning, Bush even asked him what HE wanted to do with the TARP thing, since he had been already elected. This is the obama recession, no one elses.
Tax increases do not make the economy grow. They may be less destructive at some times than others, but they are never con-structive.
This is pertinent and the answer will tell you whether Mary Smegma has a valid point or is full of crap.