- Oct 6, 2008
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- #61
And gave the rich a tax break while increasing taxes on the lower and middle income...Resurrect?!We're not the ones trying to resurrect him. If Reagan had been a legitimately great president, the right wouldn't have had to create a false legend about him.
Reagan is dead, but the butt hurt lives on. Historical giants like that come once in a lifetime.
He didn't do anything of note, other that to become the Father of the Runaway Debt.
Bogus.
- Under Reagan, the debt went up $1.7 trillion, from $900 billion to $2.6 trillion.
- But….the national wealth went up $ 17 trillion
- Reagan's near-trillion-dollar bulge in defense spending transformed the global balance of power in favor of capitalism. Spurring a stock-market, energy, venture-capital, real-estate and employment boom, the Reagan tax-rate cuts and other pro-enterprise policies added some $17 trillion to America's private-sector assets, dwarfing the trillion-dollar rise in public-sector deficits and creating 45 million net new jobs at rising wages and salaries.
http://online.wsj.com/article/SB10000872396390444914904577621083163383966.html
Reaganomics - Wikipedia the free encyclopedia
And the tax cuts of the Economic Recovery Act of 1981 stimulated economic growth. “As a 1982 JEC study pointed out,[1] similar across-the-board tax cuts had been implemented in the 1920s as the Mellon tax cuts, and in the 1960s as the Kennedy tax cuts. In both cases the reduction of high marginal tax rates actually increased tax payments by "the rich," also increasing their share of total individual income taxes paid.” http://www.house.gov/jec/fiscal/tx-grwth/reagtxct/reagtxct.htm
“As inflation came down and as more and more of the tax cuts from the 1981 Act went into effect, the economic began a strong and sustained pattern of growth.” US Department of the Treasury
- The benefits from Reaganomics:
- The economy grew at a 3.4% average rate…compared with 2.9% for the previous eight years, and 2.7% for the next eight.(Table B-4)
- Inflation rate dropped from 12.5% to 4.4%. (Table B-63)
- Unemployment fell to 5.5% from 7.1% (Table B-35)
- Prime interest rate fell by one-third.(Table B-73)
- The S & P 500 jumped 124% (Table B-95) FDsys - Browse ERP
- Charitable contributions rose 57% faster than inflation. Dinesh D’Souza, “Ronald Reagan: How an Ordinary May Became an Extraordinary Leader,” p. 116
b. and c. Kiva - Kiva Lending Team Team Ron Paul Hulk Hogan Jesus of Nazareth Chuck Norris Ronald Reagan John Wayne Thomas Jefferson Alex Jones Peyton Manning The Tuskegee Airmen Schiff REAL Americans and George W. Bush