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To: vbmoneyspender

If the “Tax Simplification” results in the government taking more of my money then, it’s a tax increase.

I don’t how many times did Reagan vote against tax cuts?


28 posted on 02/10/2008 3:52:49 PM PST by Philly Nomad
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To: Philly Nomad
If the “Tax Simplification” results in the government taking more of my money then, it’s a tax increase.

Is that what happened to you? Did Reagan's Tax Code Revisions in 1986 result in you paying more tax? And before you answer, you might want to take a look at the following discussion of the 1986 Tax Act.

See Link

The 1986 Act did what most observers thought was impossible: reduce the complexity of the federal tax code. Originally, discussions for reform of the tax code focused on a flat tax system. This system has one tax rate, irrespective of income, and only limited deductions. However, going directly to a single—rate tax structure was not politically feasible, so a compromise emerged from Congress.

Prior to this reform there were eleven income tax brackets with marginal rates ranging from 11% to 50%. In addition, the code was filled with a myriad of deductions and shelters which motivated business and individuals to enter into arrangements not on their economic merits, but rather for the tax consequences. With the passage of the Act, the number of brackets was reduced to three with marginal rates of 15%, 28%, and 33%. In addition, many deductions were eliminated, which reduced many of the economic distortions caused by the previous tax complexity. The end result was a flatter and simpler tax structure.

With the Act's passage, the United States had the lowest marginal tax rates of any major economy. This reform extended the economic expansion brought on by the Reagan tax cuts of 1981 and was one of the foundations that fueled the 1990s boom.

Finally, I don't believe Ronald Reagan (either as Governor of California or as President of the United States) ever opposed a tax cut. That just wasn't his style.

29 posted on 02/10/2008 4:08:55 PM PST by vbmoneyspender
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To: Philly Nomad
I don’t how many times did Reagan vote against tax cuts?

I don't know how many times he voted against tax cuts either. I do know he raised them as governor of California. He didn't really have a choice.

40 posted on 02/10/2008 4:53:20 PM PST by GVnana ("They're still analyzing the first guy. What do I have to worry about?" - GWB)
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