Mariahxxx
Official Checked Star Member
These people on the right do nothing but bitch about taxes and spending and the budget and the debt and deficit, but for seven of Reagan’s eight years in office, the top tax rate was higher than the current 35 percent. In six of those years, it was 50 percent or more. And every year that Regan was in office, the bottom tax bracket was higher than the current ten percent.
For a family of four, the average income tax rate under Reagan in 1983 was 11.06 percent. Under Clinton in 1992, it was 9.18 percent. And under Obama in 2010, it was 4.68 percent. During Reagan’s time, income tax revenue ranged from 7.8 to 9.4 percent of GDP. Last year, it was 6.2 percent and is not projected to climb back to 9 percent until 2016. In fact, in 2009, 2010, 2011 & 2012, Americans paid their lowest taxes in 60 years.
Republicans are very fond of saying that the U.S. has “a spending problem, not a revenue problem.” But the truth is that revenue has plunged due to the recession and to continued misguided tax cuts, and revenue needs to be raised to eventually bring the budget into balance. And Reagan knew that taxes were an important part of the budget equation. After all, he raised taxes in seven of his eight years in office, including four times in just two years.
George Bush ran up the debt more than any president in American history, including Obama. He bought things on credit that never were tagged as being owed by him. It's like when a starting pitcher gets pulled with the bases loaded and the relief guy gives up a hit and 2 of those runners score, who gets the earned runs on their era? NOT the relief guy!
Obama inherited one of the worst fiscal situations in history. 2 wars that weren't paid for and a recession and housing collapse that was the worst since the great depression. he has fucked up but your "Sound economic republican policies" for 10 years fucked us. The Bush tax cuts were great for the wealthy but fucked everyone else.
For a family of four, the average income tax rate under Reagan in 1983 was 11.06 percent. Under Clinton in 1992, it was 9.18 percent. And under Obama in 2010, it was 4.68 percent. During Reagan’s time, income tax revenue ranged from 7.8 to 9.4 percent of GDP. Last year, it was 6.2 percent and is not projected to climb back to 9 percent until 2016. In fact, in 2009, 2010, 2011 & 2012, Americans paid their lowest taxes in 60 years.
Republicans are very fond of saying that the U.S. has “a spending problem, not a revenue problem.” But the truth is that revenue has plunged due to the recession and to continued misguided tax cuts, and revenue needs to be raised to eventually bring the budget into balance. And Reagan knew that taxes were an important part of the budget equation. After all, he raised taxes in seven of his eight years in office, including four times in just two years.
George Bush ran up the debt more than any president in American history, including Obama. He bought things on credit that never were tagged as being owed by him. It's like when a starting pitcher gets pulled with the bases loaded and the relief guy gives up a hit and 2 of those runners score, who gets the earned runs on their era? NOT the relief guy!
Obama inherited one of the worst fiscal situations in history. 2 wars that weren't paid for and a recession and housing collapse that was the worst since the great depression. he has fucked up but your "Sound economic republican policies" for 10 years fucked us. The Bush tax cuts were great for the wealthy but fucked everyone else.
