Reagan Raised Taxes: the FACTS!

I love love love how the Democrats and Obama preach Reagan did X and Reagan did Y like a bunch of children explaining that their bad behavior is okay because so-in-so did it too.

So, let’s take a look at some FACTS about Reagan and taxes. I borrowed a good portion of this information from True North:

 

Here’s a year by year walk through the major tax legislation of the Reagan administration, and the cuts (red) or hikes (black) they made in terms of percent of gross revenue.

 
1981
1982
1983
1984
1985
1986
1987
1988
Economic Recovery Act of 1981
-1.21
-2.6
-3.58
-4.15
 
 
 
 
“Tax Equity and Fiscal Responsibility Act of 1982 “
 
0.53
1.07
1.08
1.23
 
 
 
Highway Revenue Act of 1982
 
0.05
0.11
0.1
0.09
 
 
 
Social Security Amendments of 1983
 
 
0.17
0.22
0.22
0.24
 
 
Interest and Dividends Tax Compliance Act of 1983
 
 
-0.07
-0.06
-0.05
-0.04
 
 
Deficit Reduction Act of 1984
 
 
 
0.24
0.37
0.47
0.49
 
Omnibus Budget Reconciliation Act of 1985
 
 
 
 
0.02
0.06
0.06
0.06
Tax Reform Act of 1986
 
 
 
 
 
0.41
0.02
-0.23
Omnibus Budget Reconciliation Act 1987
 
 
 
 
 
 
.19
.3
Annual Total Cut/Hike As Percentage of Revenues
-1.21
-2.02
-3.30
-2.57
1.88
1.14
0.76
.13
Total Tax Cuts
11.99
 
 
 
 
 
 
 
Total Tax Hikes
7.35
 
 
 
 
 
 
 
Net Tax Hikes/Cuts
-4.64
             

So the table shows us a couple of key facts:

Reagan’s Tax Cuts Were Greater Than The Hikes: Reagan’s total tax cuts outstripped his hikes by over 50%.  But even more importantly…

When The Economy Needed Cuts, Reagan Cut Them: During Reagan’s first term, when the economy was reeling from the seventies, Reagan by an average of 2% of revenues per year.  The result?  The economy boomed.  The cuts led directly to one of the greatest economic expansions in history.

Now, if you’ve been listening to your liberal friends, you are intellectually poorer you might say “But in his second term, he turned into a tax-hiking machine, didn’t he?”

Focus, people.  This is leftybloggers we’re talking about. Because even if they’re not outright lying (the numbers are right there, so they’re not), they’re leaving out key context.

And so too with this issue.  Because…

The Tax Hikes In The Second Term Were A Result Of Democrat Perfidy: Remember – Reagan always faced Democrat legislative majorities.  And eventually Reagan had to deal.  Part of the deal was that in exchange for some tax hikes, the O’Neill Congress would cut spending.

The Democrat Congress naturally reneged on the deal .

So when your liberal friends stand by the water cooler and chant with their glassy eyes and Jon Stewart smirks “Reagan raised taxes”, you can respond “it’s true. Reagan raised taxes – after cutting them much more, and only as part of a deal on which the Democrats cheated”.

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One response to “Reagan Raised Taxes: the FACTS!

  • Bash a Politician

    […] are against taxes. Dummy. Reagan's tax CUTS exceeded his tax HIKES by an estimated 50%. Reagan Raised Taxes: the FACTS! | Specfriggintacular's Blog In one instance he agreed to tax hikes if the House Dumbocraps would reduce spending. Reagan did […]

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