What Would Reagan Say About Increased Taxes?

Left Coast Rebel points out the following video which is worth watching as it is the exact same debate which is taking place today. The only difference is Obama is being played by George H.W. Bush and the Tea Party and conservative Americans are being played Reagan. As it turns out Reagan was right on lowering taxes then and he is even more right now.

 

 

 

  • Christopher
    September 26, 2010 at 12:28 am

    No one really cares what Reagan would say, because it was “Reaganomics” that got us into this situation we now find ourselves in today.

  • Rich Tehrani
    September 26, 2010 at 10:34 pm

    Well, I have two thoughts on this and I am sure we could debate the issue for a long time but in short, the Reagan era ushered in a fantastic time for all segments of our economy and after living through the Carter years where inflation was rampant and a mortgage had an interest rate north of 20% it is tough to see how anyone could argue this point:
    Here are the thoughts:
    1) The idea that prosperity for all is what we should strive for makes sense to me. Moreover if we try to punish the most successful they will either move more of their money (and themselves) overseas or work less. Either alternative worsens our economy and increases the jobless rate dramatically and this is something we can’t afford to have happen.
    2) Another thought is that the real estate market was manipulated under Reagan allowing interest payments to be tax-free on multiple properties. This ushered in a real estate boom and bust cycle when the interest tax break was repealed.
    Finally, what we should have learned from the Reagan era is the government needs to be limited and stop manipulating the housing market through tax credits and infinite housing programs, Fannie, Freddie, etc.

  • Tax calculator 2011
    September 27, 2010 at 4:34 am

    To calculate your tax refund or return, you must first find a website with tax calculating software such as TurboTax Online. Start by creating a user account at the website you have selected. Now you’ll be able to use their tax preparation program to calculate your taxes. Depending on your situation, this should take about 30 minutes or less to complete.

Leave Your Comment

 

Share via
Copy link
Powered by Social Snap