Obama on Reagan: a ‘wild-Eyed, Socialist, Tax-Hiking Class Warrior'

ABC News ^ | April 11, 2012 | Olivier Knox

[nickcarraway]

Today's Republicans might view Ronald Reagan as a "wild-eyed, socialist, tax-hiking class warrior," and the late conservative icon's views on taxes might have disqualified him from the party's nomination in 2012, President Barack Obama said Wednesday.

Obama, defending his "Buffett Rule" call for higher taxes on the very rich, said in a speech that he was "not the first president to call for this idea that everybody has got to do their fair share." He went on to say:

Some years ago, one of my predecessors traveled across the country pushing for the same concept. He gave a speech where he talked about a letter he had received from a wealthy executive who paid lower tax rates than his secretary, and wanted to come to Washington and tell Congress why that was wrong. So this President gave another speech where he said it was 'crazy'--that's a quote--that certain tax loopholes make it possible for multimillionaires to pay nothing, while a bus driver was paying 10 percent of his salary. That wild-eyed, socialist, tax-hiking class warrior was Ronald Reagan.

He thought that, in America, the wealthiest should pay their fair share, and he said so. I know that position might disqualify him from the Republican primaries these days but what Ronald Reagan was calling for then is the same thing that we're calling for now: a return to basic fairness and responsibility; everybody doing their part. And if it will help convince folks in Congress to make the right choice, we could call it the Reagan Rule instead of the Buffett Rule.

[Safetgiver]

I thought everyone had to pay social security and medicare,....All my life the Democrats said SS, Medicare was NOT a tax, it was a contribution. Now, when they want to destroy both, they ask for a cut in the payroll tax. Why am I confused?

[juno67]

Life is confusing, and then, when you start to get it figured out a bit, you die.

Everyone pays social security and medicare if they are ordinary working stiffs. But those who manage to make an income from rents, royalties, dividends, interest, capital gains (and ?) are exempted from this obligation, getting an instant 15.3% tax cut as compared to the ordinary riff-raff. Also, if you have a really good job and make over $110,100 in 2012, you won’t owe payroll taxes over that amount. Once again, it pays not to be a regular working guy. What a shock...