Democrats_win
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Tue Nov-18-08 12:48 PM
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Ronald Reagan raised my taxes! |
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He removed the tax deduction on interest paid for car loans. This enabled him to spread the money I was paid for hard work to rich people. He also substantially increased payroll taxes. http://www.dailyhowler.com/dh060804.shtml
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tsuki
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Tue Nov-18-08 12:52 PM
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1. Don't forget taxing unemployment, excise and gas tax. He wiped |
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out the tax breaks that were given the middle class.
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Warpy
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Tue Nov-18-08 12:57 PM
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2. Don't forget the cruelest one |
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He removed the deduction for out of pocket health care costs. Congress put part of it back, but not enough for most of us.
This one was pure, fulminating evil.
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jmowreader
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Tue Nov-18-08 12:59 PM
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3. That's the thing Reagan apologists always want to forget |
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Yes, Reagan signed the biggest tax cut in history, up to that point. (In unadjusted dollar figures, Bush's cuts beat Reagan's 1981 cut--in adjusted dollars, Reagan's cuts are still larger.)
Reagan, however, was more realistic than Bush on one point: when it was obvious the 1981 Reagan cut was going to wreck the economy, Reagan adjusted it--not enough, but he did. When it was obvious the Bush cuts were going to wreck the economy, he did the only thing Norquist would let him do--cut taxes even further!
Reagan's 1982 tax hike, in inflation-adjusted dollars, was even larger than Bill Clinton's.
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sinkingfeeling
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Tue Nov-18-08 02:10 PM
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4. He removed all interest tax deductions except the one on mortgage interest. And |
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Edited on Tue Nov-18-08 02:11 PM by sinkingfeeling
upped the percentage of money withheld for Social Security... so that we boomers could retire.
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DU
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Mon May 13th 2024, 02:07 AM
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