| Author | Message | ||
     Jimidan |
When President Obama released his plan for “the Buffett rule,” which involves closing tax loopholes and ensuring that millionaires pay their fair share in taxes, he explained that “middle-class families shouldn’t be paying higher taxes than millionaires and billionaires.” “Warren Buffett’s secretary shouldn’t pay a higher tax rate than Warren Buffett,” he said. Ever since, many Republicans have been attacking Obama for inciting “class warfare.” “It looks like the President wants to move down the class warfare path,” said House Budget Committee Chairman Paul Ryan (R-WI). “I don’t think I would describe class warfare as leadership,” agreed Speaker of the House John Boehner (R-OH). However, if calling for an end to millionaires having lower tax rates than their secretaries is class warfare, Obama is only the latest class warrior to occupy the Oval Office. In a June 6, 1985 speech at Northside High School in Atlanta, Georgia, then President Ronald Reagan explained that tax loopholes allowing a millionaire to pay lower taxes that a bus driver were “crazy,” because they allowed the “truly wealthy to avoid paying their fair share”: "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy. [...] Do you think the millionaire ought to pay more in taxes than the bus driver or less?" According to David Stockton, the former Reagan Budget Director, "In the Tax Reform Act of 1986, President President Reagan put capital gains and ordinary income on a level playing field. Since then the Republicans went in two directions: 1) with too big to fail philosophy, they he appointed Ben Bernanke and Alan Greenspan to the Federal Reserve which cobbled up Wall Street. 2) They basically made speculation tax free. Reagan actually was advocating for the Buffet Rule before it was called the Buffet Rule...a tax plan that was viewed by the 90% as beneficial to them." Stockton continued, "Ronald Reagan would not do well in this primary season with this GOP field and that should cause every American to pause. The fact is that kind of rhetoric would be seen as in-authentically conservative and insufficiently Republican at this moment. Newt Gingrich wants to cut the Capital Gains Tax to 0%, while Mitt Romney wants to cut it in half to 7.5%." | ||
| Sifo |
First off, what you are demonstrating here is plagiarism. That aside... In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy. [...] Do you think the millionaire ought to pay more in taxes than the bus driver or less? So he wanted millionaires like Buffet to pay more than 10%. I agree. And they do now. Thank you RR! We should get rid of more of the IRS insanity so that maybe even turbo tax Timmy can figure out how to file his taxes. | ||
| Badlionsfan |
The buffet rule I'm concerned about is when people don't get a new plate when getting more food. | ||
| Ft_bstrd |
The loopholes are closed. The "plug" was called the Tax Reform Act of 1986. There is not a SINGLE word regarding raising taxes. To say Reagan is advocating such is intellectual dishonesty. "The heartening part is that no one in Washington is standing up and saying leave the tax system as it is. It's wonderful. We love it. Just about everyone admits it has to be changed. The only disagreements now are over the specifics. And no one or just about no one is saying we ought to raise taxes and take more of the people's money." --Ronald Reagan | ||
| Two_seasons |
Thanks for the YT video Fatty. Man I miss RR. I actually called him a friend. Only president I've ever felt that way about. | ||
| Blake |
Jimi, You seem most interested in posting a bunch of dishonest Progressive-Socialist propaganda. Wrong web site. Take it to your comrades at www.workersworldparty.com. I'm not at all interested in providing a stage for such bunk. If you weren't so entirely impervious to fact and truth, it would be different. Stick to bikes please. | ||
| Mr_grumpy |
I always thought the Buffet Rule was "Never take more than the plate can hold" | ||
| Boliver |
I think they play magaritaville way too much on the radio. I never have been a big Jimmy Buffet fan. | ||
| Court |
I can't speak to the honesty he ascribes to these posts. But given some of the outlandishly false statements, I'm going with the assumption that he lacks even the most rudimentary understanding and its simply blathering. I expect to see him hosting a news show soon given those qualifications. I read the first paragraph . . . . to wit:
And immediately knew that reading further was not a sound use of my time. Contained in that single paragraphs two sentences are 3 patent inaccuracies. I confess an ongoing fascination with the number of folks who can be so easily led. I bought something last week that's sure been interesting . . .  | ||
| Court |
By the way . . . . I am not attributing that stupid quote to Jimidan . . I realize it was uttered by a neighborhood organizer with virtually not one lick of either financial or management knowledge or experience. | ||
| Ltbuell |
...+1 to what you,Two seasons,said of Ronald Reagan.Miss him too. | ||
| Court |
I ha the pleasure of serving President Reagan and Vice President Bush as a member of The White House Advance Team. You learn a great deal about folks when you travel with them. Both . . politics aside . . were true gentlemen. Court | ||
| Hybridmomentspass |
Court, what did you do exactly? I am not familiar with what "advance team" does. Help secure sites before speeches and such? Like others, I thought this was going to be about golden corral or bad Chinese. | ||
| Jimidan |
Blake: "You seem most interested in posting a bunch of dishonest Progressive-Socialist propaganda." Tell it to David Stockton. What I am posting is Republicans talking about Republicans. | ||
| Sifo |
What I am posting is There ya go. |
