Two presidents, 26 years: The Reagan/Obama plan


MoveOn.org wonders whether Warren Buffett is a time traveler.  I wonder about that old adage about an idea whose time has come.

I still think we need to pay more attention to making good jobs, and making jobs we have, pay better.   More taxpayers in the middle class reduces everyone’s tax burden and balances budgets.

This entry was posted on Sunday, April 15th, 2012 at 9:41 am and is filed under Barack Obama, Economics, Politics, President Obama, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to Two presidents, 26 years: The Reagan/Obama plan

  1. onkelbob says:
    April 15, 2012 at 10:32 am

    I’ll play… Who pays more in payroll taxes? When did that tax burden increase? Given that the budget deficits are funded in large part by Social Security surpluses, who is carrying that tax load? BS false analogy debunked. You’re welcome.

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  2. Morgan K Freeberg says:
    April 15, 2012 at 9:51 am

    From Washington Examiner:

    Yes, it’s true that on June 28, 1985, Reagan gave a speech to Bloom High School in Chicago Heights, Illinois about problems with the tax code in which he told an anecdote about an executive who was paying a lower tax rate than his secretary. But if you read the whole speech, it’s clear that Reagan was telling the story as part of his pitch for tax reform.

    “Lower, flatter tax rates will give Americans more confidence in the future,” Reagan said that day. “It’ll mean if you work overtime or get a raise or a promotion or if you have a small business and are able to turn a profit, more of that extra income will end up where it belongs — in your wallets, not in Uncle Sam’s pockets.”

    So there are several key differences with Obama. To start, Reagan was talking about simplifying the tax code, whereas Obama’s Buffett Rule would add another layer of complexity. Reagan was arguing for allowing people to keep more of their own money and reduce the burden of government. By contrast, Obama is arguing for instituting the Buffett Rule so that more money is available to pay for government programs.

    Urban legend debunked. You’re welcome.

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