Saturday, April 18, 2009

Tax hysteria...

Tax Revolts: Some Succeed, Most Don’t - Room for Debate Blog - NYTimes.com
Starting with the election of Ronald Reagan, conservatives have led an effort to vilify the income tax — which is reflected in the polls. However, what is often forgotten is that Reagan raised taxes twice (in 1982 and in 1986 on corporations). The modern Republican tax protest movement really only took off after George Bush Sr. broke his “no new taxes” pledge in 1991 and lost his re-election bid in 1992 (for unrelated reasons). Subsequently it became hard for Republicans to raise taxes even in the face of two unexpected wars and a huge budget deficit.

Most people forget that income taxes were about 10 points higher than today during most of his administration ... and that Reagan actually RAISED taxes -- twice.

Maybe the news outlets who claims to "report and let you decide" ... is really doing more news stimulation and creation than reporting...

2 comments:

Intellectual Insurgent said...

What's your point?

RR said...

The obvious: that people don't know history -- and while taxes maybe a pain in the ass -- they are hardly at "socialist" levels...