Reagan's Forgotten Tax Record

[rdean]

Reagan’s record on raising taxes began almost the moment he entered politics. Elected governor of California in 1966, he inherited a large budget deficit from his predecessor, Pat Brown. Although a conservative, dedicated to shrinking government, Reagan nevertheless found the magnitude of spending cuts that would have been necessary in 1967 to be beyond reach. This led him to endorse a $1 billion per year tax increase, equivalent to a $17 billion tax increase today – an enormous sum equal to a third of state revenues at that time. Journalist Lou Cannon recounts the circumstances:

“No amount of budget reductions, even if they had been politically palatable, could have balanced California’s budget in 1967. The cornerstone of Governor Reagan’s economic program was not the ballyhooed budget reductions but a sweeping tax package four times larger than the previous record California tax increase obtained by Governor Brown in 1959. Reagan’s proposal had the distinction of being the largest tax hike ever proposed by any governor in the history of the United States.”[1]

Reagan's Forgotten Tax Record | Stan Collender's Capital Gains and Games

I remember when I was living in California, they had "Proposition 8" which was an effort to return money to the tax payers. Reagan raised taxes by so much, the state had a huge surplus and the money needed to be returned to the people of the state. Reagan then ran on a record of a "balanced budget".

 

[CrusaderFrank]

The "American" Left hates Reagan because he called their home team an Evil Empire then tossed them on the ash heap of history

 

[rdean]

The "American" Left hates Reagan because he called their home team an Evil Empire then tossed them on the ash heap of history

There is something seriously wrong with you. Perhaps the wrong meds?

 

[Toronado3800]

The "American" Left hates Reagan because he called their home team an Evil Empire then tossed them on the ash heap of history

Frank, at first I listened to these idiots who called Reagan conservative like he goose stepped the line.

More I see and read the more random and a man Reagan was.

I still don't think I would have voted for him. Them savings and loan bailouts set a bad precident.

 

[USNavyVet]

The "American" Left hates Reagan because he called their home team an Evil Empire then tossed them on the ash heap of history

Frank, at first I listened to these idiots who called Reagan conservative like he goose stepped the line.

More I see and read the more random and a man Reagan was.

I still don't think I would have voted for him. Them savings and loan bailouts set a bad precident.

I iked some of what Reagan did, and disliked some of it. We have to remember he was a Democrat who turned to the Republican party so he really couldn't be trusted anyway. But he did help bring down the USSR and his actions with the airlines were correct. But you're right on bailouts. Our government should never do that for any company.

 

[boedicca]

Here's a summary of Reagan's real tax record; his tax cuts are more than double the increases, for an overall reduction.

rdean Phears Teh Math.

 

[Mad Scientist]

The worst thing that Cowboy did was to make Americans proud of their country. The American Spirit was on the wane and then this guy comes along and gets everyone charged up again!

He set Communism back at least 30 years. Thankfully we have a President now that isn't so proud and Cowboy like.

 

[USNavyVet]

The worst thing that Cowboy did was to make Americans proud of their country. The American Spirit was on the wane and then this guy comes along and gets everyone charged up again!

He set Communism back at least 30 years. Thankfully we have a President now that isn't so proud and Cowboy like.

Your forum name is an oxymoron. Did you know that?

 

[Truthmatters]

Here's a summary of Reagan's real tax record; his tax cuts are more than double the increases, for an overall reduction.

rdean Phears Teh Math.

link


its against the rules here to post stuff without a link

 

[Truthmatters]

The worst thing that Cowboy did was to make Americans proud of their country. The American Spirit was on the wane and then this guy comes along and gets everyone charged up again!

He set Communism back at least 30 years. Thankfully we have a President now that isn't so proud and Cowboy like.

Your forum name is an oxymoron. Did you know that?

he or she is obviously a con thinking they are funny

 

[Rat in the Hat]

Here's a summary of Reagan's real tax record; his tax cuts are more than double the increases, for an overall reduction.

rdean Phears Teh Math.

link


its against the rules here to post stuff without a link

The source for the image is listed at the bottom of the image, therefore it's not against the rules.

You lose.

 

[USNavyVet]

Here's a summary of Reagan's real tax record; his tax cuts are more than double the increases, for an overall reduction.

rdean Phears Teh Math.

link


its against the rules here to post stuff without a link

Are you a moderator or just the forum dick?

 

[USNavyVet]

The worst thing that Cowboy did was to make Americans proud of their country. The American Spirit was on the wane and then this guy comes along and gets everyone charged up again!

He set Communism back at least 30 years. Thankfully we have a President now that isn't so proud and Cowboy like.

Your forum name is an oxymoron. Did you know that?

he or she is obviously a con thinking they are funny

Probably not. There are people in the US that pretend communism is cool.

 

[Mad Scientist]

The worst thing that Cowboy did was to make Americans proud of their country. The American Spirit was on the wane and then this guy comes along and gets everyone charged up again!

He set Communism back at least 30 years. Thankfully we have a President now that isn't so proud and Cowboy like.

Your forum name is an oxymoron. Did you know that?

Oxymoron is a figure of speech that combines two contradictory terms.

Communism is Central Planning that picks Economic Winners and Losers.

The American Government is so large that it can be considered Central Planning as even they pick Economic Winners and Losers by the Laws that they pass. You need examples of Obama dolling out Gov't money to whom he pleases? Start with Solyndra.

This is why we will take over. Americans think Freedom is in the air they breathe and in the Flag they wave, it just is. They don't know that their rights come from their Creator and are enshrined in the Bill of Rights and Constitution and can't be taken away by anyone.

This is why we must fool them into voluntarily giving up their rights and acquiescing to Gov't Rule. We are 90% there.

 

[USNavyVet]

The worst thing that Cowboy did was to make Americans proud of their country. The American Spirit was on the wane and then this guy comes along and gets everyone charged up again!

He set Communism back at least 30 years. Thankfully we have a President now that isn't so proud and Cowboy like.

Your forum name is an oxymoron. Did you know that?

Oxymoron is a figure of speech that combines two contradictory terms.

Communism is Central Planning that picks Economic Winners and Losers.

The American Government is so large that it can be considered Central Planning as even they pick Economic Winners and Losers by the Laws that they pass. You need examples of Obama dolling out Gov't money to whom he pleases? Start with Solyndra.

This is why we will take over. Americans think Freedom is in the air they breathe and in the Flag they wave, it just is. They don't know that their rights come from their Creator and are enshrined in the Bill of Rights and Constitution and can't be taken away by anyone.

This is why we must fool them into voluntarily giving up their rights and acquiescing to Gov't Rule. We are 90% there.

So I guess you're just in denial.

 

[whitehall]

Governor Reagan? Groan. When is the left ever going to talk about the current mess?

 

[Rshermr]

Governor Reagan? Groan. When is the left ever going to talk about the current mess?

So. Let me understand. Looking at economic history is not helpful in understanding the current economy and what has ever worked to get us out of an economic downturn? Got it.

What is important about Reagan is that he lowered taxes greatly. Then raised them, eliminating over half of the decrease in taxes with his tax increases. But he also borrowed. You may remember that Reagan nearly tripled the national debt, borrowing more than all the previous presidents combined.

All of which did little to help the economy. What is important was that he used that revenue, raised through tax increases and borrowing, to spend stimulatively. So, it is easy enough to prove that in Reagan's presidency, he learned that in a high unemployment economy, Supply side did not work at all. It simply made things worse. Stimulus worked for him. In a really big way.

 

[rdean]

Here's a summary of Reagan's real tax record; his tax cuts are more than double the increases, for an overall reduction.

rdean Phears Teh Math.

link


its against the rules here to post stuff without a link

Are you a moderator or just the forum dick?

I'm guessing not a moderator. So that leaves......

 

[rdean]

Governor Reagan? Groan. When is the left ever going to talk about the current mess?

We talk about it now, but the right insists it's all Obama's fault. If they can't admit to where it came from, how can they come up with a plan to reduce it?

 

[Stephanie]

Governor Reagan? Groan. When is the left ever going to talk about the current mess?

NEVER, I guess they used Bush all up so now they have to go all the way back to Reagan