Reagan Cut Taxes....Revenue Boomed

[edthecynic]

So the republicans didn't wipe out the democrats in 1994 and hold both houses for a 12 years ?

Giving us the worst recession since the Great Republican Depression.

 

[Sun Devil 92]

So the republicans didn't wipe out the democrats in 1994 and hold both houses for a 12 years ?

Giving us the worst recession since the Great Republican Depression.

More bullshit from the losers on the left.

 

[Tax Man]

So the republicans didn't wipe out the democrats in 1994 and hold both houses for a 12 years ?

Giving us the worst recession since the Great Republican Depression.

More bullshit from the losers on the left.

So you are in great shape financially, correct? And you call those of us who are well to do losers!

 

[TheDude]

After my misguided vote for Jimmy Carter, I learned my lesson. The country was a complete mess. I opened my CD and got a 17.5 percent interest rate! Of course my car loan was 18 percent. And my first mortgage was a builder buy down to the "rock bottom" interest rate of 14 percent.
Yes Reagan was treated poorly by the press but compared to Trump, he was coddled.

I don't know if you remember or felt the difference, but I'll never forget the feeling of July 4th during Reagan's first year. There was a feeling of patriotism and strength. Reagan was the best leader of my lifetime.

Liberals like to point at Clinton to suggest raising taxes and economic expansion are mutual. What they fail to realize is the very reasons this was a possibility was Reagonomics before the Clinton years and the dot.com explosion.

 

[Sun Devil 92]

You tax cut cultists need to burn this little graph into your eyeballs:

Take your self-financing tax cut free lunch bs and shove it up your whatever - no one is buying it.

Within sane rates, when you tax less, people pay less. It's really not rocket science.

...and besides, since when do liberals give a shit about the deficit or national debt?

Answer: when you want to condemn RR...but being hypocrites, refuse to acknowledge your Messiah's heinous actions.

Please don't claim Big Ears had to double the national debt because W made him do it.

Since always

Keynesian economics (generally considered the foundation of modern liberal economics), VERY SPECIFICALLY CALLS FOR LONG TERM BALANCED BUDGETS: spending in bad economic times, paying down debts in good times.

But we do have some conservatives on record saying otherwise:

Reagan proved that you can keep ratio's good and succeed.

To wantonly spend money is stupid.

Cheney should have been more clear. If he think the current deficit does not matter, he's gone stupid.

 

[Sun Devil 92]

So the republicans didn't wipe out the democrats in 1994 and hold both houses for a 12 years ?

Giving us the worst recession since the Great Republican Depression.

More bullshit from the losers on the left.

So you are in great shape financially, correct? And you call those of us who are well to do losers!

How does that relate to my response to a bullshit post.

 

[Flash]

Regan didn't actually cut overall taxes but he cut income tax rates and that trickle down economics resulted in tremendous economic growth.

The filthy ass Liberals hate the idea of less money going into the hands of the government. The dumbasses think is always better to have some stupid bureaucrat, whose boss is a corrupt politician elected by special interest groups, to spend the money earned by the American people rather than the American people themselves. How dumb is that? Then the Liberals wonder why we ridicule them so much for being dumbasses.

 

[Sun Devil 92]

Critics of the Reagan tax cuts today compare the 11.6% growth in federal revenue in 1980, the last year of the Carter administration, with the decline in revenue in 1983. They then declare that the Reagan tax cuts slashed federal revenue. Conveniently missing in that comparison is that the 1980-82 recession, with 10.8% unemployment, reduced federal revenue twice as much as the Joint Committee on Taxation estimated the Reagan tax cuts would in 1982 and 15% more than its estimate for 1983.

Except there was no 1980-1982 recession. There was a recession in 1980, the shortest recession in history, which still managed 11.6% growth in federal revenue. The Reagan Recession from July 1981 to November 1982, the longest since the Great Republican Depression, created 10.8% unemployment rather than jobs and revenue growth.

Total bullshit.

Want to bet?

Bet what ?

That he didn't get 525 electoral votes in 1984.

 

[bripat9643]

Reagan Cut Taxes, Revenue Boomed

A great advantage of having been present when history was made is that later you can sometimes recall what actually happened. Such institutional memory is important today in assessing the 1981 Reagan tax cuts, whose effect is now being relitigated in the debate on the Republicans’ proposed tax reform. To refute claims that the Reagan tax cuts slashed federal revenue, in the words of President Reagan, “well, let’s take them on a little stroll down memory lane.”

More to follow.

But, just to say Thank You President Reagan for the man and president you were.

The press was not kind to you while you were in office.

The left wing despises you because you used conservative principles to bring us back from the depression Jimmy Carter had put us in.

And these principles can still be applied today.

Yep and I was there. He almost put us into a deep recession with that tax cut and then proceeded to raise taxes 11 times but still doubled the debt exploded the deficit and we still fell into a recession George Bush had to raise taxes again to keep us out of and then Bill Clinton oversaw the largest peacetime economic expansion in history by raising taxes again. What exactly was the history that you remembered?

He almost put us into a deep recession with that tax cut

Tax cuts help growth, they don't cause recessions.

If a tax cut occurred three administrations prior to the Democrat administration when a recession occurs, snowflakes will blame it on that tax cut. Of course, there are no Democrat tax cuts.

 

[Siete]

Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget, FY 1981. See Did Reaganomics Work?

• FY 1989 - $255 billion.
• FY 1988 - $252 billion.
• FY 1987 - $225 billion.
• FY 1986 - $297 billion.
• FY 1985 - $256 billion.
• FY 1984 - $195 billion.
• FY 1983 - $235 billion.
• FY 1982 - $144 billion.

 

[Siete]

Barack Obama: Added $7.917 trillion, a 68 percent increase from the $11.657 trillion debt at the end of George W. Bush’s last budget, FY 2009.

• FY 2016 - $1.423 trillion.
• FY 2015 - $327 billion.
• FY 2014 - $1.086 trillion.
• FY 2013 - $672 billion.
• FY 2012 - $1.276 trillion.
• FY 2011 - $1.229 trillion.
• FY 2010 - $1.652 trillion.
• FY 2009 - $253 billion. (Congress passed the Economic Stimulus Act, which spent $253 billion in FY 2009. This rare occurrence should be added to President Obama's contribution to the debt.)

George W. Bush: Added $5.849 trillion, a 101 percent increase from the $5.8 trillion debt at the end of Clinton's last budget, FY 2001.

• FY 2009 - $1.632 trillion. (Bush's deficit without the impact of the Economic Stimulus Act).
• FY 2008 - $1.017 trillion.
• FY 2007 - $501 billion.
• FY 2006 - $574 billion.
• FY 2005 - $554 billion.
• FY 2004 - $596 billion.
• FY 2003 - $555 billion.
• FY 2002 - $421 billion.

Bill Clinton: Added $1.396 trillion, a 32 percent increase from the $4.4 trillion debt at the end of George H.W. Bush's last budget, FY 1993.

• FY 2001 - $133 billion.
• FY 2000 - $18 billion.
• FY 1999 - $130 billion.
• FY 1998 - $113 billion.
• FY 1997 - $188 billion.
• FY 1996 - $251 billion.
• FY 1995 - $281 billion.
• FY 1994 - $281 billion.

 

[Sun Devil 92]

Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget, FY 1981. See Did Reaganomics Work?

• FY 1989 - $255 billion.
• FY 1988 - $252 billion.
• FY 1987 - $225 billion.
• FY 1986 - $297 billion.
• FY 1985 - $256 billion.
• FY 1984 - $195 billion.
• FY 1983 - $235 billion.
• FY 1982 - $144 billion.

Good article.

Does nothing to dispel what Reagan did. Just argues the level of success.

It does ask a key question....would it work today ?

And the answer is NO. Bush was an asshole who threw away a chance to do many good things all to run some fucked up war in the Middle East.

True conservatives loath Bush and his stupid waste of resources.

We are in deep shit and Bush/Obama helped that happen.

 

[Tax Man]

Regan didn't actually cut overall taxes but he cut income tax rates and that trickle down economics resulted in tremendous economic growth.

The filthy ass Liberals hate the idea of less money going into the hands of the government. The dumbasses think is always better to have some stupid bureaucrat, whose boss is a corrupt politician elected by special interest groups, to spend the money earned by the American people rather than the American people themselves. How dumb is that? Then the Liberals wonder why we ridicule them so much for being dumbasses.

When people talk taxes it generally means income taxes. Now read this
The original concept of capitalism is that investors and entrepreneurs are allowed to pursue profits because that's good for everyone. Private ownership and free-market competition drive the creation of wealth, and raise the standard of living. So profit is a means to an end. But under Reagan, we lost sight of this original purpose, profit became the end in itself. This led to the concentration of wealth and slow decline in the standard of living for most people, a trend that continues to this day.

Reagan deregulated many industries, in effect destroying competition and creating oligopolies. For example, his deregulation of airlines resulted in every single airline in the US going bankrupt except two. His deregulation of broadcasting resulted in the entire industry being dominated by a few enormously powerful players, like Disney and Clear Channel.

Under Reagan, money became more powerful in politics than ever before. So powerful that today we don't really have elections, we have auctions. The candidate who spends more money wins about 98% of the time. This has made it easier for powerful corporations to 'buy' politicians.

The concentration of wealth created a whole new class of millionaires, but for each new millionaire there were several hundred new homeless. The poor were demonized and Republican politicians and their mouthpieces in the media directed the public's anger at them for being a drag on the economy, while actually, all along, it was the rich who were really ripping us off. The city of Los Angeles installed a fingerprint system to guard against welfare fraud. The system cost $30 million, and it caught -one- welfare cheat. Meanwhile for the first time in US history corporate fraud and white collar crime cost us more than street crime, did more damage, and even arguably resulted in more deaths.

Reagan's deregulation of the savings and loan industry ended in a debacle that cost Americans $500 billion. I wonder how many Americans realize that the current banking debacle based on subprime mortgages is the THIRD huge financial services disaster in as many decades caused by imprudent Republican deregulation.

Reagan also began (or accelerated) the export of American manufacturing overseas. In fact the US govt. actually subsidizes corporations to move jobs overseas, making investors richer and working people poorer.

Saint Ray Goon hurt America. Enjoy your delusion.

 

[Siete]

Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget, FY 1981. See Did Reaganomics Work?

• FY 1989 - $255 billion.
• FY 1988 - $252 billion.
• FY 1987 - $225 billion.
• FY 1986 - $297 billion.
• FY 1985 - $256 billion.
• FY 1984 - $195 billion.
• FY 1983 - $235 billion.
• FY 1982 - $144 billion.

Good article.

Does nothing to dispel what Reagan did. Just argues the level of success.

It does ask a key question....would it work today ?

And the answer is NO. Bush was an asshole who threw away a chance to do many good things all to run some fucked up war in the Middle East.

True conservatives loath Bush and his stupid waste of resources.

We are in deep shit and Bush/Obama helped that happen.

trickle down works short term, but has proven to increase the debt LONG TERM.


Obama lowered the FEDERAL DEFICIT $1 TRILLION DOLLARS, and increased the NATIONAL DEBT 68%.

 

[Tax Man]

Barack Obama: Added $7.917 trillion, a 68 percent increase from the $11.657 trillion debt at the end of George W. Bush’s last budget, FY 2009.

• FY 2016 - $1.423 trillion.
• FY 2015 - $327 billion.
• FY 2014 - $1.086 trillion.
• FY 2013 - $672 billion.
• FY 2012 - $1.276 trillion.
• FY 2011 - $1.229 trillion.
• FY 2010 - $1.652 trillion.
• FY 2009 - $253 billion. (Congress passed the Economic Stimulus Act, which spent $253 billion in FY 2009. This rare occurrence should be added to President Obama's contribution to the debt.)

George W. Bush: Added $5.849 trillion, a 101 percent increase from the $5.8 trillion debt at the end of Clinton's last budget, FY 2001.

• FY 2009 - $1.632 trillion. (Bush's deficit without the impact of the Economic Stimulus Act).
• FY 2008 - $1.017 trillion.
• FY 2007 - $501 billion.
• FY 2006 - $574 billion.
• FY 2005 - $554 billion.
• FY 2004 - $596 billion.
• FY 2003 - $555 billion.
• FY 2002 - $421 billion.

Bill Clinton: Added $1.396 trillion, a 32 percent increase from the $4.4 trillion debt at the end of George H.W. Bush's last budget, FY 1993.

• FY 2001 - $133 billion.
• FY 2000 - $18 billion.
• FY 1999 - $130 billion.
• FY 1998 - $113 billion.
• FY 1997 - $188 billion.
• FY 1996 - $251 billion.
• FY 1995 - $281 billion.
• FY 1994 - $281 billion.

Obama inherited Bush the lessers failed re enactment of trickledown, peon, economics. It cost a lot to keep the world's economies going.

 

[TheDude]

Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget, FY 1981. See Did Reaganomics Work?

• FY 1989 - $255 billion.
• FY 1988 - $252 billion.
• FY 1987 - $225 billion.
• FY 1986 - $297 billion.
• FY 1985 - $256 billion.
• FY 1984 - $195 billion.
• FY 1983 - $235 billion.
• FY 1982 - $144 billion.

Damn right it did. It was an investment and we realized our greatest state. It's not Reagan's fault our debt has increased 18 trillion off his watch.

 

[Sun Devil 92]

Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget, FY 1981. See Did Reaganomics Work?

• FY 1989 - $255 billion.
• FY 1988 - $252 billion.
• FY 1987 - $225 billion.
• FY 1986 - $297 billion.
• FY 1985 - $256 billion.
• FY 1984 - $195 billion.
• FY 1983 - $235 billion.
• FY 1982 - $144 billion.

Good article.

Does nothing to dispel what Reagan did. Just argues the level of success.

It does ask a key question....would it work today ?

And the answer is NO. Bush was an asshole who threw away a chance to do many good things all to run some fucked up war in the Middle East.

True conservatives loath Bush and his stupid waste of resources.

We are in deep shit and Bush/Obama helped that happen.

trickle down works short term, but has proven to increase the debt LONG TERM.

Trickle down will work well in some cases....

However, you can't have the rich using government to make more wealth.

Which is just what Bush, Clinton, Bush, Obama did.

 

[imawhosure]

Facts are facts---------> Coolidge, Kennedy, Reagan, Clinton (capital gains tax cut) and HW tax cuts...........in every instance, the revenue to the federal government ROSE significantly.

And lies are lies, and you are a LIAR!

WHAT DO YOU WANT TO BET hotdog? You better check it out before you open your leftie mouth, lol. Or do you have 14 accounts, so losing one doesn't mean that much to you, lololol!

 

[Siete]

Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget, FY 1981. See Did Reaganomics Work?

• FY 1989 - $255 billion.
• FY 1988 - $252 billion.
• FY 1987 - $225 billion.
• FY 1986 - $297 billion.
• FY 1985 - $256 billion.
• FY 1984 - $195 billion.
• FY 1983 - $235 billion.
• FY 1982 - $144 billion.

Damn right it did. It was an investment and we realized our greatest state. It's not Reagan's fault our debt has increased 18 trillion off his watch.

THE NATIONAL DEBT is the sum total of FEDERAL DEFICITS left by ALL presidents.

 

[Flash]

Regan didn't actually cut overall taxes but he cut income tax rates and that trickle down economics resulted in tremendous economic growth.

The filthy ass Liberals hate the idea of less money going into the hands of the government. The dumbasses think is always better to have some stupid bureaucrat, whose boss is a corrupt politician elected by special interest groups, to spend the money earned by the American people rather than the American people themselves. How dumb is that? Then the Liberals wonder why we ridicule them so much for being dumbasses.

When people talk taxes it generally means income taxes. Now read this
The original concept of capitalism is that investors and entrepreneurs are allowed to pursue profits because that's good for everyone. Private ownership and free-market competition drive the creation of wealth, and raise the standard of living. So profit is a means to an end. But under Reagan, we lost sight of this original purpose, profit became the end in itself. This led to the concentration of wealth and slow decline in the standard of living for most people, a trend that continues to this day.

Reagan deregulated many industries, in effect destroying competition and creating oligopolies. For example, his deregulation of airlines resulted in every single airline in the US going bankrupt except two. His deregulation of broadcasting resulted in the entire industry being dominated by a few enormously powerful players, like Disney and Clear Channel.

Under Reagan, money became more powerful in politics than ever before. So powerful that today we don't really have elections, we have auctions. The candidate who spends more money wins about 98% of the time. This has made it easier for powerful corporations to 'buy' politicians.

The concentration of wealth created a whole new class of millionaires, but for each new millionaire there were several hundred new homeless. The poor were demonized and Republican politicians and their mouthpieces in the media directed the public's anger at them for being a drag on the economy, while actually, all along, it was the rich who were really ripping us off. The city of Los Angeles installed a fingerprint system to guard against welfare fraud. The system cost $30 million, and it caught -one- welfare cheat. Meanwhile for the first time in US history corporate fraud and white collar crime cost us more than street crime, did more damage, and even arguably resulted in more deaths.

Reagan's deregulation of the savings and loan industry ended in a debacle that cost Americans $500 billion. I wonder how many Americans realize that the current banking debacle based on subprime mortgages is the THIRD huge financial services disaster in as many decades caused by imprudent Republican deregulation.

Reagan also began (or accelerated) the export of American manufacturing overseas. In fact the US govt. actually subsidizes corporations to move jobs overseas, making investors richer and working people poorer.

Saint Ray Goon hurt America. Enjoy your delusion.

You are confused Moon Bat.

It is not delusional to know that when I got Reagan's income tax cut I spent it in the productive economy instead of sending it to some asshole government weenie to spend for me (on worthless things) and that caused the economy to grow.

Money is always better in the hands of the people that earn it rather than in the hands of the government and the economic boom that came as a result of Reagan's income tax cuts is a great example.

If your point is that the economic boom could have been greater had not Reagan raised taxes in other areas and continued wioth the welfare state then I will agree with you.

Liberals should actually love Reagan. He was at the end of the day a big government progressive. He talked a great Conservative game and kicked the ass of the commies but at the day he increased the size of government, grew the debt, allowed tens of millions of illegals to be legal and continued with the welfare state. Better than any Democrat but not a real Conservative.

We can do better than these Progressive assholes that think we need a $4 trillion a year interventionist welfare state. We can do better than these shitheads that think the government is better at spending the money I make rather than myself.

We simply don't need this massive out of control debt ridden oppressive government. It should be one third to one forth the size of it now. In my lifetime the discussion has never been about actually cutting the size of this filthy ass government. It has only been about slowing the rate of growth and that included the Republicans administrations. The Republicans are always better than the Democrats but that is not saying much seeing that the despicable Democrats set such a low bar.

By the way Moon Bat, income disparity increased under Obama along with poverty and a decrease in family income. Only an asshole would have voted for him don';t you agree?