What Ronald Reagan did in 1982:

[Xicano]

Suck on it wing-nuts, your hero Saint Ronny RAISED TAXES in response to recession and unemployment!!

"In 1982 we were looking at the jaws of the worse recession since the 1930's. We over did it in 1981, cut taxes too much. We came back with a big deficit plan in 1982. Unemployment's 10%, the economy is in dire strait and we raised taxes by 1.2% of GDP which would be 150 billion a year right now. Not ten years down the road, but right now. That's what we did in 1982 because we still had people in government who realized you can't simply be putting on this kind of debt in the world financial market."

-- David Stockman (President Reagan Budget Director / Representative (R) Michigan)


((video clip)) >>> http://www.youtube.com/watch?v=DJxlYV4MJJo

[bulloney]

1. Under Reagan we went from the largest tax cut to the largest tax hike in history.

Funny how Limpballs, Hannity et al forget that little bit of history on their Gawd, Ronnie Raygun.

I'd like to hear Limpballs stammer and stutter around like he always does if someone can break his caller screening and bring that fact up.

[liberal N proud]

2. As I recall, those were revenue enhancements

Not tax increases

:rofl:

[Xicano]

3. LOL... :)

Is that the term Raygun's White House used at that time? Back at that time I was only 17yrs old and not really paying attention to politics.

"Revenue enhancements" LMAO

[unblock]

6. yes. yes it was.

[WillyT]

4. K & R !!!

:kick:

[Major Hogwash]

5. Reagan also knew that screwing around with SS was political suicide.

He wanted to destroy Social Security in 1979, but changed his mind when he found out that it was the most popular government program in the history of the United States.

Reagan gave numerous speeches prior to 1980 about getting rid of Social Security because he was a fan of Ayn Rand economics. But, when he found out he couldn't get elected by running against Social Security, he stopped whining about it.

[former9thward]

7. Really?

Reagan and Congress raised the retirement age of SS to 67 in 1983. If that is not a cut in benefits I don't know what is.

[Major Hogwash]

9. Yes, really.

Reagan was a fucking piece of shit.
He really pe'od some people back in those days.

[former9thward]

10. You said he didn't fool around with SS. He did and won 49 states.

[Major Hogwash]

12. Really gets under your skin that I said that Reagan was a fucking piece of shit, huh?

Hahahahaha!!!!!!

[bbinacan]

8. What was the net on tax cuts vs. tax hikes

during Reagan's 8 years? Were taxes higher overall when he left office compared to when he took office?

[lumberjack_jeff]

11. Taken together was a huge tax shift.

Taxes were shifted from income taxes to FICA, which only applies to workers.