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.
“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.
Very RINOish.
Johnson needed the money to fund his war on poverty, that we lost....cause there is still poverty /s
Reagan raised corporate taxes several times.
Reagan rasied the cap on ss payroll deductions.
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