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Reagan raised taxes 9 times on the Middle Class

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Author Topic: Reagan raised taxes 9 times on the Middle Class  (Read 161 times)
Superhero Member
Posts: 2261

« on: May 09, 2011, 12:13:33 am »

Does anyone remember what Reagan did to try to get the unemployme≠nt down from his HUGE 10.8% unemployme≠nt?
Answer: Reagan raised taxes 9 times on the Middle Class.

1982 - Reagan signed into law not one but two major tax increases.
(1) The Tax Equity and Fiscal Responsibi≠lity Act raised taxes by $37.5 billion per year -
--- This raised taxes by almost 1% of the GDP, making it the largest peacetime tax increase in American history. An increase of similar magnitude today would raise more than $100 billion per year.

(2) Highway Revenue Act of 1982 raised the gasoline tax by another $3.3 billion.

1983: Reaganís Social Security Tax Increase
(3) Reagan signed legislatio≠n which INCREASED PAYROLL TAX for Social Security.
(4) Reagan increased Payroll taxes AGAIN with Medicare health insurance.
Both taxes are still here today.

(5) 1984: Reaganís Deficit Reduction Act of 1984.
Reagan raised taxes by $18 billion per year or 0.4 percent of GDP.
--- A similar sized tax increase today would be about $44 billion.

(6) 1985: Reagan raised taxes with his Consolidat≠ed Omnibus Budget Reconcilia≠tion Act of 1985

(7) 1986: Reaganís Tax Reform Act of 1986, contained a net tax increase in its first two years.

(Cool 1987 Reaganís Omnibus Budget Reconcilia≠tion Act of 1987 raised taxes still more.

(9) By 1988 - Reaganís INCREASE in payroll tax share was up to 11.8 percent, and burden for Middle Class was up, not down.
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Superhero Member
Posts: 2261

« Reply #1 on: May 09, 2011, 12:15:50 am »

Welfare state my foot - the GOP has had the same agenda for the last 100 years - and its always the same story - take from the poor and give to the rich!

Enough already!!
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Superhero Member
Posts: 11110

« Reply #2 on: May 10, 2011, 04:57:56 pm »

Yeah Reagan was a NWO traitor just like the rest of them after JFK.
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