One of the greatest regrets of several members of the generally sound Reagan administration was that in an effort to cut spending significantly, President Reagan went along with some tax hikes sought by Democrats in his first term in office.
It seemed like a good idea at the time: Supposedly there would be $3 worth of spending cuts for every $1 in tax increases.
But it didn't work out that way.
The tax increases were imposed, but the spending cuts failed to materialize. As Reagan later wrote, "The Democrats reneged on their pledge and we never got those cuts."
We are witnessing a similar bait and switch today. ...
**** My Comment: This is how we ended up giving TAX REFUNDS to people who paid NO TAXES! It's called the "Earned Income Tax Credit"!!!
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As Reagan later wrote, "The Democrats reneged on their pledge and we never got those cuts." I like Ronald Reagan, but I wonder why he stayed so congenial with the RAT bastard demoRATs, instead of forging ahead via executive orders on spending cuts as well as border enforcement in exchange for the amnesty that Reagan signed. Never should've happened! And Reagan should have been astute to know that Rat bastard demoRATs never keep their word! He should have exercised the executive order pen, the way that 0dumb0 is doing right now!
"My Comment: This is how we ended up giving TAX REFUNDS to people who paid NO TAXES! It's called the "Earned Income Tax Credit"!!!"Simple enough: Pay for Bobocare by directly taking it out of these people's EITC.
"Lessee, minus your 2K Obamacare penalty you have a refund due of 48 cents. Would you like a fast loan on that?"