Ronald Reagan

2009/04/15

Reagan Myth one: he lowered taxes. This is not true. He did lower marginal income tax rates a benefit that accrued to those with the highest incomes. Then — ELEVEN TIMES — he raised taxes. He invented a new name for taxes, calling them user fees, and revenue enhancements, after that there was loophole tightening. The net effect was to raise taxes across the board, while narrowing the gap between what the haves and have not’s paid.

What other Reagan myth’s would people like to hear about?

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