"a political approach that favors free-market capitalism, deregulation, and reduction in government spending".

Not sure why you received that many up votes.

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Posted by sweatyfreddy

Member since Feb 2024

129 posts

Posted on 2/19/24 at 10:00 am to Penrod

quote:
quote:
Reagan increased the fed budget by a greater % than any prez in my life, he signed 11 tax increases

quote:
The phrase Reagan tax cuts refers to changes to the United States federal tax code passed during the presidency of Ronald Reagan. There were two major tax cuts: The Economic Recovery Tax Act of 1981 and the Tax Reform Act of 1986. The tax cuts popularized the now infamous phrase "trickle-down economics" as it was primarily used as a moniker by opponents of the bill in order to degrade supply-side economics, the driving principle used to promote the tax cuts. The first tax cut (Economic Recovery Tax Act of 1981) among other things, cut the highest personal income tax rate from 70% to 50% and the lowest from 14% to 11% and decreased the highest capital gains tax rate from 28% to 20%.[1] The second tax cut (Tax Reform Act of 1986) among other things, cut the highest personal income tax rate from 50% to 38.5% but decreasing to 28% in the following years[2] and increased the highest capital gains tax rate from 20% to 28%

Where do people like you come from? Wikipedia link

Reagan may very well have signed 11 tax increases, but he was a gigantic net tax reducer.

ha ha.

"Two bills passed in 1982 and 1984 together "constituted the biggest tax increase ever enacted during peacetime," Thorndike said."

Please note this as a % OF GNP!!!!

as to where I come up with this...it's called reality. You BIG GOV lovers might wanna check it out.

you can cut rates & RAISE taxes. the 81 "cut" RAISED the avg americans taxes.

This post was edited on 2/19/24 at 10:10 am

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Posted by sweatyfreddy

Member since Feb 2024

129 posts

Posted on 2/19/24 at 11:51 am to sweatyfreddy

^^^^^^heh heh. Nuttin' repels the CINOs like facts. CINOs seem to be a gumbo of emotion, ignorance & victimhood.