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To: Para-Ord.45

Stockman called out this scam in the early eighties, and Reagan “took him to the woodshead”. Stockman called for tax increases back then...and pointed out that deficit spending had to be curtailed...he was publically almost booted out of the GOP.

It’s payback time.


2 posted on 02/09/2013 9:35:59 AM PST by kjo (+)
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To: kjo

Thanks for the bit of history.


3 posted on 02/09/2013 9:40:43 AM PST by thecodont
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To: kjo
Revenues doubled during the Reagan era. Raising tax rates does not equate to revenue increases. You should learn about the Laffer curve, I will post a link.

Link here.

8 posted on 02/09/2013 11:14:26 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: kjo

No matter what the tax rates have been, even at 70 and 90 percent top marginal rates, the Federal Gov has collected about 18% GDP as revenue. It’s known as Hauser’s Law. Christine Romer & hubby wrote about what happens when taxes increase, GDP falls.
We don’t have a tax revenue problem, we have a spending problem!


9 posted on 02/09/2013 2:23:56 PM PST by griswold3 (Big Government does not tolerate rivals.)
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