Sun Devil 92
Diamond Member
- Apr 2, 2015
- 32,078
- 11,094
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- Banned
- #841
Agreed since Ronnie "saved" SS the GOPers have used to hide the cost of tax cuts to the rich to the tune of $2.7+ trillion, now that it's due to be paid back, CONservatives/GOPers say SS is "broke". OPM
LOVE that static economic forecasting don't you?
IF what you say was true, how then did REVENUES double in the President Reagan decade?
As for Social Security going broke, simply observe the bottom line. Neutral site and I know how facts and reality are foreign to you. Need I coach you as to the meaning of the red and green numbers?
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U.S. National Debt Clock : Real Time
DOUBLED? LMAOROG
Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves
Bush-Appointed Federal Reserve Chair Bernanke: "I Don't Think That As A General Rule Tax Cuts Pay For Themselves."
Bush Treasury Secretary Paulson: "As A General Rule, I Don't Believe That Tax Cuts Pay For Themselves."
Bush OMB Director Nussle: "Some Say That [The Tax Cut] Was A Total Loss. Some Say They Totally Pay For Themselves. It's Neither Extreme."
Bush CEA Chairman Lazear: "As A General Rule, We Do Not Think Tax Cuts Pay For Themselves."
Bush Economic Adviser Viard: "Federal Revenue Is Lower Today Than It Would Have Been Without The Tax Cuts."
Bush Treasury Official Carroll: "We Do Not Think Tax Cuts Pay For Themselves."
Reagan Chief Economist Feldstein: "It's Not That You Get More Revenue By Lowering Tax Rates, It Is That You Don't Lose As Much."
Feldstein In 1986: "Hyperbole" That Reagan Tax Cut "Would Actually Increase Tax Revenue."
Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."
Tax Foundation's Prante: "A Stretch" To Claim "Cutting Capital Gains Taxes Raises Tax Revenues."
Ronald Reagan Myth Doesn't Square with Reality
Meanwhile, following that initial tax cut, Reagan actually ended up raising taxes - eleven times. That's according to former Republican Sen. Alan Simpson, a longtime Reagan friend who co-chaired President Obama's fiscal commission that last year offered a deficit reduction proposal.
"Ronald Reagan was never afraid to raise taxes," historian Douglas Brinkley, who edited Reagan's diaries, told NPR. "He knew that it was necessary at times. And so there's a false mythology out there about Reagan as this conservative president who came in and just cut taxes and trimmed federal spending in a dramatic way. It didn't happen that way. It's false."
Ronald Reagan Myth Doesn't Square with Reality
First of all, revenues as a percentage of gross domestic product (GDP), which is the best way to compare across years, dropped from 19.1 percent in 1981 to a low of 16.9 percent in 1984, before rebounding slightly to 17.8 percent in 1989. One reason the deficit soared during Reagan’s term is because spending went up as a share of the economy and revenues went down.
A Treasury Department study on the impact of tax bills since 1940, first released in 2006 and later updated, found that the 1981 tax cut reduced revenues by $208 billion in its first four years. (These figures are rendered in constant 2012 dollars.) The tax reform act of 1986, which was designed to be revenue neutral, reduced revenues by less than $1 billion four years after enactment.
But Reagan’s tax increases in 1982, 1983, 1984 and 1987 boosted revenue by $137 billion.
Overall, that’s a revenue loss from Reagan’s various tax bills, but it also shows that Moore is crediting to Reagan’s tax cuts revenues generated by Reagan’s tax increases.
Rand Paul’s claim that Reagan’s tax cuts produced ‘more revenue’ and ‘tens of millions of jobs’
KNOW WHAT INFLATION IS BUTTERCUP?
Do Tax Cuts Increase Revenues? No, Tax cuts do not Increase Revenue
Do Tax Cuts Increase Revenues? No, Tax cuts do not Increase Revenue - Fact and Myth
Lost all credibility.
Sorry.....
At least one of those tax increases were to clean up Jimmy Carter's HUGE screw up on Social Security. Carter said he fixed it for 30 years....not realizing they really blew the revenue forcasts....it was headed for the red and would have happened had it not been for one of Reagan's tax increases.
You are good with the talking points.
It's unfortunate you can't think for yourself....cupcake.
IGNORE ALL THOSE QUOTES BUBBA, AND LIE ABOUT CARTER, IT'S ALL YOU CUPCAKES HAVE. Doubled revenues? LMAOROG
You fruitcakes don't have anything.
You are sitting on the sidelines.
Get some popcorn and enjoy......fruitcake.