Skip to comments.Did Ronald Reagan ever raise taxes? Vanity, need some education
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. ;)
“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 did that, too. It was illegal to touch the money so he didnt, because he replaced it with .. an IOU from the government.
It was kind of sneaky-fun at the time, because we knew it would bankrupt it and we actually got the Democrats to go along with it.
The thing we have to keep reminding ourselves and the taxpayers is that the president cannot raise taxes. Only Congress can. And the president signs the bill.
This isn't a minor point.
In the case of Republican presidents, I cannot think of any that agreed to sign a bill raising taxes except as a compromise with Democrats so the president could get something necessary to the security of the nation.
I could be wrong, but I believe that when the Bush tax cuts expire here shortly, then that will be the biggest tax increasing in American history, eclipsing Reagan.
Not so good... It gets fuzzy when I turn on my electric shaver!
“It gets fuzzy when I turn on my electric shaver!”
Hope that doesn’t scare that dog in your arm with his head stuck out the window.
Have you finished changing into your work clothes, yet?
Yes, I did and regret it. My sons SM is such a flaming liberal and I’m trying to convert with no luck.
I got busted by a liberal friend of mine for bashing the Earned Income Tax Credit. He whipped out a quote from Reagan where Reagan said the EITC is "the best anti-poverty, best pro-family, best job-creation measure to come out of."
Tie your shoes after you park...
Still reading the map...
This was meant to "Save" Social Security because they could see that future revenues wouldn't cover future benefits, so they wanted to collect now and save them for the future. The problem was that by law they could only invest in special treasury bonds, so in essence they just were able to hide some of the debt in SS and spend that borrowed money on other programs with a promise to raise general income tax in the future to pay off the bonds.
Note that despite the Reagan tax increases the corp and indiv rates during his presidency were the lowest in our nation’s history and the econ boon was the most bountiful and longstanding.
Try an exorcism.
ROFL! I love that picture!
Needs a GPS and video screen in there, as well as a dog jumping all around!
No wait, maybe it’s the green acid!
Yes, he did like the EITC, and I believe it was expanded during his presidency with his approval.
This isn't a minor point.
Absolutely not a minor point, and it is galling to have so many Americans (in general) who credit or blame the president with so much that is in the purview of Congress. Those 535 people are either absolved of all criticism or blame or receive credit for that which they are not entitled.
The president proposes, the Congress disposes.
FICA tax rates were increased during his presidency.
Also, Reagan supported Amnesty for illegals, put O'Connor and Kennedy on the Supreme Court and was in favor of the Brady Bill.
And he selected George Bush Sr. (a moderate) as his running mate in 1980 and 1984.
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