Obama: Reagan was wild-eyed, tax hiking Socialist

[Odessa78]

President Barack Obama said the White House proposed “Buffet Rule” could be named the “Reagan Rule,” referring to former Republican President Ronald Reagan as a “wild-eyed, Socialist, tax hiking class warrior.”

“This President gave another speech where he said it was ‘crazy’ — that’s a quote — that certain tax loopholes make it possible for multimillionaires to pay nothing, while a bus driver was paying 10 percent of his salary,” Obama said at the Eisenhower Executive Office Building Wednesday. “That wild-eyed, socialist, tax-hiking class warrior was Ronald Reagan.”



Read more: Obama | Reagan | Socialist | The Daily Caller

Reaganomics

According to William A. Niskanen, one of the architects of Reaganomics, "Reagan delivered on each of his four major policy objectives, although not to the extent that he and his supporters had hoped," and notes that the most substantial change was in the tax code, where the top marginal individual income tax rate fell from 70.1% to 28.4%, and there was a "major reversal in the tax treatment of business income," with effect of "reducing the tax bias among types of investment but increasing the average effective tax rate on new investment." Roger Porter, another architect of the program, acknowledges that the program was weakened by the many hands that changed the President's calculus, such as Congress.[2][18]

[DipStick]

Originally Posted by EmptyTimCup

Reagan also closed many tax loopholes, something Republicans today refer to as "socialism".

Let's not forget: Growth of government, amnesty for illegals, nuclear arms reduction treaties, negotiating with "the enemy".

Yes the Growth of the Defense Budget .........

[DipStick]

Originally Posted by EmptyTimCup

Yes the Growth of the Defense Budget .........

He raised taxes twice to protect entitlement programs. Yes, he passed cuts to those programs, but he raised taxes to keep them alive. Democrats have proposed similar things and been called socialists for it.

[Larry Gude (Premo)]

Originally Posted by Odessa78

President Barack Obama said the White House proposed “Buffet Rule” could be named the “Reagan Rule,” referring to former Republican President Ronald Reagan as a “wild-eyed, Socialist, tax hiking class warrior.”

“This President gave another speech where he said it was ‘crazy’ — that’s a quote — that certain tax loopholes make it possible for multimillionaires to pay nothing, while a bus driver was paying 10 percent of his salary,” Obama said at the Eisenhower Executive Office Building Wednesday. “That wild-eyed, socialist, tax-hiking class warrior was Ronald Reagan.”

He has a point. Someone should tell Obama that, even though he and Reagan may well be virtual twins economically, other than the lack of growth and revenue to the treasury, that people just don't like Obama.