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Obama Cites Reagan For Raising Tax Rates

From Think Progress, which is the internet front for the Democrat Party’s Center For American Progress:

Obama Uses Reagan Quote To Rebut Republicans’ ‘Class Warfare’ Charge

By Pat Garofalo on Oct 4, 2011

Yesterday, we posted a video of conservative icon Ronald Reagan saying that it’s “crazy” that tax loopholes would allow a millionaire to pay lower taxes than a bus driver, using the same sort of language that President Obama has employed when describing the “Buffett rule” (which would ensure that millionaires can’t pay lower taxes than middle-class families). During a speech today in Texas, Obama used Reagan’s quote to slam Republicans who have been deriding the Buffett rule as “class warfare.” “Last time I checked, Republicans all thought Reagan made some sense,” he said:

Now, when I point this out, some of the Republicans in Congress say, ‘oh you’re engaging in class warfare.’ Let me tell you something. Years ago, one great American had a different view. I’m going to get the quote, just so you know I’m not making this up. A great American said that he thought it was ‘crazy’ that certain tax loopholes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary.

Alright. You know who this guy was? It wasn’t a Democrat. It wasn’t some crazy socialist. It was Ronald Reagan. It was Ronald Reagan. Last time I checked, Republicans all thought Reagan made some sense. So next time you hear one of those Republicans in Congress accusing you of class warfare, you just tell them I’m with Ronald Reagan. I agree with Ronald Reagan that it’s crazy that a bus driver pays a higher tax rate than some millionaire because of a loophole in the tax code. And by the way, I don’t mind being called a warrior for the working class. You guys need someone working for you.

As Think Progress goes on to note, Art Laffer has been expressing his outrage over this blatant misrepresentation of President Reagan’s thoughts on taxing the rich. And he was the the engineer of the Reagan tax policies at the time.

But the big lie of Obama’s claim is best refuted by the fact that Reagan lowered the top income tax rate for the so-called rich from 50% to 28% just a little more than one year after this speech in October, 1986.

This article was posted by Steve on Wednesday, October 5th, 2011. Comments are currently closed.

3 Responses to “Obama Cites Reagan For Raising Tax Rates”

  1. pilgrim1949 says:

    Hey, no fair, just no fair at all citing cold hard facts in a blatant attempt to ruin a treasured (you should excuse the capitalistic term) Dem/Lib/Prog feelings-infused wet-dream of punishingly taxing the eeeeeeevil rich into oblivion to pay for all of our unicorn-fart-inhaling-induced fantasies.

    Man, what a bummer.

    Like, Dude, I might even have to like get a job or sumpin’…

  2. chainsaw says:

    Here we go again. The great teleprompter mis-contextualizes the great communicator.

    IF there is a loophole, get rid of it. But that’s just one of many problems with this guy. It’s hard to hit any target when one can not identify them.

  3. Right of the People says:

    Typical Dimocrap rhetoric, never let the truth get in the way of a campaign story. According to the libtards we should be taxing anyone making over $200K at 110% so we can for abortions and “art” like a crucifix in a jar of pee.

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