Reagans tax increase?

nuther tidbit.

Reagan may have resisted calls for tax increases, but he ultimately supported them. 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.

http://www.nationalreview.com/nrof_bartlett/bartlett200310290853.asp
 
But USC, didn't you know that the Clinton tax raises were the LARGEST IN HISTORY?

I'd like you to guess what stupid statistical fallacy I'm using here.
 
uscitizen said:
Reagan's cuts never fully took effect. They were scaled back in 1982 by a tax increase that averaged $37.5 billion over its first four years. Subtract the '82 Reagan increase from the '81 Reagan cut, and the combined Bush cuts once again look bigger, even adjusted for inflation.

http://www.factcheck.org/bush_ad_claims_his_tax_cuts_exceed.html
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uscitizen said:
nuther tidbit.

Reagan may have resisted calls for tax increases, but he ultimately supported them. 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.

http://www.nationalreview.com/nrof_bartlett/bartlett200310290853.asp
Click to expand...

FACT: Ronald Reagan is dead, and is not going to be running for President.
FACT: George Bush is in Crawford scraping cow manure off his boots, and is not going to be running for president either.

The interesting bit of FACTCHECK.ORG trivia you posted, was the challenge of George Bush's claim that he cut taxes more than Reagan. Your source says Bush didn't, that Reagan's tax cuts were way more than Bush, even with the 'tax increase' included, which was a product of the Democrat Majority in Congress, btw.

I knew we were in for a treat when I saw "Reagan Tax Increase?" by usidiot!
 
LOL. A product of the sane Democrat majority in a single house and Reagan's willingness to sign the act. Dumbass. Just fucking die dixie. Please.
 
Watermark said:
LOL. A product of the sane Democrat majority in a single house and Reagan's willingness to sign the act. Dumbass. Just fucking die dixie. Please.
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Reagan signed it because the Ds in Congress promised a $3 reduction in spending for every $1 of tax increase.

There was a reason most of the measures in that act were temporary (note how the original post doesn't tell you they were, nor the article.)

Also, most of this "increase" was simply revoking certain tax breaks passed in the Kemp-Roth Tax cut less than a year before.

This was a compromise position taken because Reagan's party did not have control of the Congress.
 
Reagan did sign it though Damo.

And my whole purpose of this thread was to bring truth out Dixie.
I tire of myths being used to mislead our country.
 
uscitizen said:
Reagan did sign it though Damo.

And my whole purpose of this thread was to bring truth out Dixie.
I tire of myths being used to mislead our country.
Click to expand...
So you "forget" to mention that it was the compromise that the Ds offered to dispel the myth of a Reagan Tax Hike?

Yeah, I can tell how you did that, ignoring information so that it appears one way, when finding that information changes things... Yeah, that's the way to "dispel" a myth.
 
uscitizen said:
Reagan did sign it though Damo.

And my whole purpose of this thread was to bring truth out Dixie.
I tire of myths being used to mislead our country.
Click to expand...


Well, if you are all about truth, why didn't you tell it? Why did it take me and Damo pointing out that this was a Democratic measure, most of it was temporary, and merely offset some of the cuts in Kemp-Roth?

Seems to me, what you tried to do here was anything BUT honest and truthful! Your IMPLICATION is, that Ronald Reagan didn't cut taxes, he increased them, and that is false. Even your own source says it is false, as it is an argument about whether Bush's tax cuts were actually larger than Reagan's.

What's even more funny, is you attempt this outright lie and distortion of fact, on people who LOVED Ronald Reagan! As if any Reagan fan is going to put one bit of stock in what you have to say! I mean, really, you fucking retard... what did you expect to be the response to this bullshit? OMG, thank you for pointing this out, I am so ashamed that I voted for him twice! And even IF that is what you expected, what the fuck is the point? Reagan CAN'T be elected president again, unless we change the law to allow more than two terms, and that a person doesn't have to be LIVING! I know Ronnie scares the living fuck out of liberal pinheads, but really... I don't think you have anything to worry about!
 
Well the Democrats only controlled the house. Well, that does essentially give them veto power over any new legislation, but they definitely weren't in some kind of strong position. And unlike the 1994 Republicans, who were uniformly conservative, the Democrats were very divided and there was probably a total ad hoc conservative majority overall (the Democratic caucus by itself still elected the speaker, however, who was a liberal and had considerable control over legislation, but he didn't have the power to force his conservatives to vote for what he wanted). There was a lot of conservative legislation passed in that time. I think Reagan just saw that his tax breaks were going to bankrupt the nation.
 
He did seem to levae a bit of a mess for Bush I who had to ask people to buy oin credit to boost the economy.
 
It's kind of funny how Republicans are so willing to accept Keynesianism as long as they pretend the public is going to be persuaded into it. Don't want any evil government forcing people to have a decent economy, now.
 
Watermark said:
Well the Democrats only controlled the house. Well, that does essentially give them veto power over any new legislation, but they definitely weren't in some kind of strong position. And unlike the 1994 Republicans, who were uniformly conservative, the Democrats were very divided and there was probably a total ad hoc conservative majority overall (the Democratic caucus by itself still elected the speaker, however, who was a liberal and had considerable control over legislation, but he didn't have the power to force his conservatives to vote for what he wanted). There was a lot of conservative legislation passed in that time. I think Reagan just saw that his tax breaks were going to bankrupt the nation.
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No, Reagan didn't "see" that, because the tax increase was NOT Reagan's idea! We just clarified that lie and distortion, and here you are, running right back to it in order to expound on your ignorant stupidity! Reagan believed in cutting taxes, he understood that every time we've ever cut taxes, it generated more revenues. How do you go bankrupt if you're generating MORE revenues?
 
uscitizen said:
He did seem to levae a bit of a mess for Bush I who had to ask people to buy oin credit to boost the economy.
Click to expand...

Bush I was an economic moron! IF he had remained true to Reagan principles, he would have been re-elected, but furthermore, we would have seen even more economic growth and prosperity through his two terms. It was the very fact that Bush was NOT Reagan, and didn't really believe in Reagan economic policies, which was Bush's problem.

You will recall the term "Voodoo Economics" ...it came from Bush Sr.! It was coined during the Republican primaries, when he was running AGAINST Ronald Reagan! It was Bush Sr. who began Republicans down the road to "Compassionate Conservatism" or as I like to call it... Liberal-Lite!
 
Dixie said:
No, Reagan didn't "see" that, because the tax increase was NOT Reagan's idea! We just clarified that lie and distortion, and here you are, running right back to it in order to expound on your ignorant stupidity! Reagan believed in cutting taxes, he understood that every time we've ever cut taxes, it generated more revenues. How do you go bankrupt if you're generating MORE revenues?
Click to expand...

REALY?1/!?!E
 
Watermark said:
Well the Democrats only controlled the house. Well, that does essentially give them veto power over any new legislation, but they definitely weren't in some kind of strong position. And unlike the 1994 Republicans, who were uniformly conservative, the Democrats were very divided and there was probably a total ad hoc conservative majority overall (the Democratic caucus by itself still elected the speaker, however, who was a liberal and had considerable control over legislation, but he didn't have the power to force his conservatives to vote for what he wanted). There was a lot of conservative legislation passed in that time. I think Reagan just saw that his tax breaks were going to bankrupt the nation.
Click to expand...
Bad description. They held strong control of the house, and he compromised in order to get deficit reduction passed. Unfortunately the Ds never held up their side of the bargain and the $3 for every $1 they increased taxes was overspent quickly. Thankfully the tax increases that are listed here were largely temporary measures.

It took him getting shot before he was able to get much of his measures passed, but even then many of them remained forever on the table.
 
Yeah they did have much stronger control than I had thought, 270 seats, which surprised me being that it was in the 80's, but I guess it makes sense with the early 80's recession still in effect.
 
Dixie said:
No, Reagan didn't "see" that, because the tax increase was NOT Reagan's idea! We just clarified that lie and distortion, and here you are, running right back to it in order to expound on your ignorant stupidity! Reagan believed in cutting taxes, he understood that every time we've ever cut taxes, it generated more revenues. How do you go bankrupt if you're generating MORE revenues?
Click to expand...

He signed it into law. He did not veto it.
And didn't the repubs control the senate?
 
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