Posted on 06/03/2009 10:48:47 AM PDT by Halls
Did Ronal Reagan ever raise taxes for anything? Needing a bit of education here. ;)
Yes
Who Ronal Reagan ?
He imposed some import tariffs. That’s one of the big reasons we have Toyota building cars here.
For what?
I loved Reagan, but like so many things, his legend grows as each year passes. And, many project onto his legacy what they want to remember, not necessarily what really happened.
Reagan, especially in his second term, was much more pragmatic than what some would be happy with today.
I’m typing from my iPhone. Give me a break!
My liberal hippy uncle tells me that he raided Social Security but I think he got ahold of some bad acid back at Woodstock...
raised corp. rates in reluctant trade-off with dems who promised to cut spending in return and of course reneged
I’m looking. The site I normally use is down. Sorry. Maybe somebody else can help. I know he did though.
I’m typing from my iPhone. Give me a break!
Hope you pulled over to the shoulder of the road...
He was also promised $2 in spending cuts for ever $1 increase in taxes by Democrats who promptly ‘forgot’ to cut.
I believe in signed into law a bill which raised (or set) the matching requirement of SS contribution by the employer, but not for the individual. So it was a corporate/employment tax per se.
Can't do that, the other hand is holding the cup of coffee!
“My liberal hippy uncle tells me that he raided Social Security but I think he got ahold of some bad acid back at Woodstock...”
He shoulda stayed away from the BROWN ACID maaaaannnn....
Yes, as mentioned upthread. One must remember that President Reagan’s record overall (net effect) is that of a major tax-cutter.
I really hope you havent argued with someone too vehemently over this, because Ronald Reagan signed what is still the biggest tax increase in American history.
Cold Wars dont pay for themselves.
“Hope you pulled over to the shoulder of the road...
Can’t do that, the other hand is holding the cup of coffee!”
How’s the video?
From a 2003 NRO piece:
http://www.nationalreview.com/nrof_bartlett/bartlett200310290853.asp
In 1982 alone, he signed into law not one but two major tax increases. The Tax Equity and Fiscal Responsibility Act (TEFRA) raised taxes by $37.5 billion per year and the Highway Revenue Act raised the gasoline tax by another $3.3 billion. According to a recent Treasury Department study, TEFRA alone raised taxes by almost 1 percent of the gross domestic product, making it the largest peacetime tax increase in American history. An increase of similar magnitude today would raise more than $100 billion per year.
In 1983, Reagan signed legislation raising the Social Security tax rate. This is a tax increase that lives with us still, since it initiated automatic increases in the taxable wage base. As a consequence, those with moderately high earnings see their payroll taxes rise every single year.
In 1984, Reagan signed another big tax increase in the Deficit Reduction Act. This raised taxes by $18 billion per year or 0.4 percent of GDP. A similar-sized tax increase today would be about $44 billion.
The Consolidated Omnibus Budget Reconciliation Act of 1985 raised taxes yet again. Even the Tax Reform Act of 1986, which was designed to be revenue-neutral, contained a net tax increase in its first 2 years. And the Omnibus Budget Reconciliation Act of 1987 raised taxes still more.
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