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errrr reagan raised taxes in '82
Not income taxes and that is something all income earners benefited from
errrr reagan raised taxes in '82
Not income taxes and that is something all income earners benefited from
I'm still waiting, Con ...My bet is you were playing with transformers during the 1980 election campaign and weren't paying any attention to the economic conditions. Instead you act like an expert again on a topic you know nothing about.
I'm still waiting, Con ...
You made a bet with me.
Are you going to put up and agree to terms of the bet you made or are you going to shut up and run away from it again?
It's put up or shut up time, Con...
The results speak for themselves, people keeping more of their money stimulated economic growth and led to the massive landslide in 1984
I'll bet you he runs away.
It is virtually certain.
when do you plan on getting back on topic?It really would be a lot smarter for you to actually shut up and get back on topic. Thanks for pointing out that Jimmy Carter had better numbers than Obama and Carter is called the worst President in Modern history. Still waiting for how Reagan and Volker got together and raised interest rates to 20% in 1980 before Reagan took office? Keep diverting, Sheik for that is all an Obama supporter can do. Remember Obama loves you and people like you as he laughs his ass off at how foolish he is making you look
Bruce bartlett had this to say:
The only problem with this analysis is that it is historically inaccurate. Reagan may have resisted calls for tax increases, but he ultimately supported them. In 1982 alone, he signed into law not one but two major tax increases. The Tax Equity and Fiscal Responsibility Act (TEFRA) raised taxes by $37.5 billion per year and the Highway Revenue Act raised the gasoline tax by another $3.3 billion.
According to a recent Treasury Department study, TEFRA alone raised taxes by almost 1 percent of the gross domestic product, making it the largest peacetime tax increase in American history. An increase of similar magnitude today would raise more than $100 billion per year.
http://old.nationalreview.com/nrof_bartlett/bartlett200310290853.asp
Like I said, I wasn't criticizing his decision to put the economy into recession. I was criticizing your inability to admit the most basic facts when you think (even mistakenly, as in this case) that they don't support your preordained partisan position.
i'll bet your rightI'll bet you he runs away.
Please tell me what those taxes fund and who pays for them?
I supported what Reagan did and his pro growth economic policy that stimulated economic growth. His was a positive program promoted daily and led to the results we saw in 1983 on. When I compare Reagan to Obama there is no comparison, Reagan showed leadership whereas Obama is devisive and lacks leadership skills. The results speak for themselves.
Components of the TERFA :
- repealed scheduled increases in accelerated depreciation deductions
- tightened safe harbor leasing rules
- required taxpayers to reduce basis by 50% of investment tax credit
- instituted 10% withholding on dividends and interest paid to individuals
- tightened completed contract accounting rules
- increased FUTA wage base and tax rate
I supported what Reagan did and his pro growth economic policy that stimulated economic growth. His was a positive program promoted daily and led to the results we saw in 1983 on. When I compare Reagan to Obama there is no comparison, Reagan showed leadership whereas Obama is devisive and lacks leadership skills. The results speak for themselves.
You didn't even know what Reagan did until we told you. :roll:
I have seen no evidence that you have a clue what Reagan did or didn't do and obviously the Presidential rankings haven't swayed you. Too bad, support for massive expansion of the Federal Govt. that Obama is doing is going to destroy people like you but then again maybe not. Seems you like being dependent on the govt. and have no initiative to better yourself.
And yet you argued, incorrectly, that Reagan and Volcker didn't put the economy into recession. You claimed that unemployment was higher under Carter. You have no clue.
You have provided no evidence that the dropping interest rates after Reagan took office put the country into recession but ignore the conditions in the country when Reagan took office which certainly did
You have provided no evidence that the dropping interest rates after Reagan took office put the country into recession but ignore the conditions in the country when Reagan took office which certainly did
So why was he not re-elected and why is he considered the worst modern day US president (unless you want to give Obama that title)?In terms of job growth, Carter's results make every president look bad as there were 10 million jobs created on his watch in 4 years. Per year, that's better than every other president.
Economy:
Reagan: not in recession
Obama: in deep recession
GDP:
Reagan: +7.6
Obama: -8.9
Unemployment Rate:
Reagan: 7.5
Obama: 9.0 (U3 + marginal workers)
G'head, keep insisting Reagan inherited an economy worse than Obama
:roll::roll::roll: