When Reagan would never do such a thing?
And why do Liberals lie and claim that the great Ronald Reagan granted amnesty to 3 million illegals, and that supposedly emboldened others intended to enter the US illegally?
Why do Liberals lie and claim that the great Ronald Reagan cut & ran from Lebanon following…
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.
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.
The year 1988 appears to be the only year of the Reagan presidency, other than the first, in which taxes were not raised legislatively. Of course, previous tax increases remained in effect. According to a table in the 1990 budget, the net effect of all these tax increases was to raise taxes by $164 billion in 1992, or 2.6 percent of GDP. This is equivalent to almost $300 billion in today’s economy.
Economic Recovery Tax Act of 1981
Tax Equity and Fiscal Responsibility Act of 1982
Highway Revenue Act of 1982
Social Security Amendments of 1983
Interest and Dividend Tax Compliance Act of 1983
Deficit Reduction Act of 1984
Omnibus Budget Reconciliation Act of 1985
Tax Reform Act of 1986
Omnibus Budget Reconciliation Act of 1987
Reagan was an FBI informer in Hollywood at the time of McCarthyism – he was a rat.
When elected to President he agreed with Margaret Thatcher that the easiest way to control the masses was to make the US and UK the centre of the financial universe and destroy unions and manufacturing.
Thus began the swing towards finance as the major money-makers instead of manufacturing.
Neither Reagan or Maggie foresaw that the destruction of jobs and manufacturing would lead to an expansion of manufacturing in developing nations – or that the Russians and Chinese would embrace capitalism so quickly.
In essence,the bottom line is – If you dont make physical sellable goods to export – you die.
Reagan wasn’t that great. It’s just the Republicans can’t find anyone that is even mediocre. That’s because Republicans live with head up you know what. They even rejected Reagan himself at first and called him unelectable. Now they look back because hindsight is all they know. The mainstream Republicans could not spot a good candidate if Reagan himself recommended him for office.
Liberals also lie and claim that the great Reagan raised the debt ceiling 18 times.
I am about as right wing as anyone on this site, and am a huge fan of Ronald Reagan.
However, taxes were raised numerous times during his administration. On several occasions, he made a deal with Democrats to raise taxes if there were corresponding spending cuts; unfortunately, the spending cuts never happened.
I dont know about eleven times but, he took away middle class tax breaks and raised the social security tax. that i remember
while cutting other taxes for the rich,
But you know this thats why you asked
Maybe because it’s all true?
wow the libs are hyperventilating over dead men now because even they can beat Obama in a poll…LMAO