Reagan Calls For An End To ‘Crazy’ Tax Loopholes That Let Millionaires Pay Less Than Bus Drivers

[one...two...tree 2,762]

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?

Watch Obama and Reagan’s remarks, side by side:

When Reagan asked the crowd whether millionaires should be paying more or less in taxes than a bus driver, the crowd resoundingly responded “more!” Reagan also told an Illinois crowd about a letter he had received from a man who said that tax loopholes allowed him to pay a lower tax rate than his secretary. “He wrote me the letter to tell me he’d like to come to Washington and testify before Congress as to how that’s possible for him to do and why it is wrong,” Reagan said.

[one...two...tree 2,762]

[Ban Hammer 13,352]

[one...two...tree 2,762]

Argument FAIL

[scandal 951]

Speak for yourself Charles.

[Gary and Alla 3,694]

I could not agree more.

FAIR TAX now!

[Sofiyya 1,687]

Obama will fix this when he takes office

[luckytxn 2,264]

And it turns out that the millionaire pays more than everyone else combines. In fact the wealthy pay most of the taxes in this country now. There is about 50% of the people that pay no income taxes and many of them even get e rebate tax. Maybe the Feds need to quit spending so much more than they take in and quit with the class warfare. I am stuck in the middle. Not rich or not poor. If we tax the wealthy 100% it still would leave a huge deficit so that leaves us middle class to pay the bills. I want everyone to be taxed the same amount. (the wealthy would still pay most of the taxes) I want us taxed so there is no deficit at all. Then when we all open our paychecks we can see if we really want all this spending. Once we are paying so much then lets have a dialogue and say if we like paying so much. If we do we keep spending and taxing and if not then we talk and see if we want to cut some programs. Until the Feds get serious then the class warfare is not going to fly at all.

The Socialist scum can keep trying to play this game because that is what it is to them...a game. To us working class middle class we are tired of the games. That is why Obama the Socialist is going down as it stands now.

[Danno 1,228]

Who could be against closing loopholes in the tax code?

Loopholes are usually things that are legal yet never intended.

Does obama want to close loopholes are raise the rates?

From what I gather he wants to just flat out raise taxes..... does that sound to be in keeping with the spirit of Reagan?