True for the most part, but they’re leaving out the part where the guy who pays the most can write it off under the convoluted tax code.
Don’t forget the part where those that pay NOTHING get $$ ‘back’ (that they never earned to begin).
So, which is worse? The ‘rich’, whom is allowed to keep more of his OWN $$, or the ‘poor’ that is given, by force of govt, $$ of others they did not earn?
They did reduce the tax rates and the deductions. But, as soon a the changes became law the lobbysts came back and started to lobby for loopholes and these same loopholes were passed. So the idea of fewer loopholes and lower taxes was completely nullified. More the problem was that the more we cut taxes on the wealthy the less of a problem they had with spending so spending became out of controls since wealthy corporate country clubbers run the GOP and wealthy lib gentries control the Demowit party. Now we have a nearly insolvent country. So now when conservatives want somebody who will stand up for conservative principles we find that the establishment country clubbers are pointing out that they are working with the Dems to “get things done”. Spending money and getting cheap labor through immigration along with tax cuts seem to be a perect solution for them does it not? But, in the end this will be a disaster and of course the corporate media will blame us for what they did just like the housing crises.
“That’s one of the things Reagan partly fixed”
The “tax simplification act” of 1986 was the biggest tax INCREASE ever!