The Reagan Rule

[PsyOps]

Well, “The Buffett Rule” may be morphed into a whole new line of false rhetoric. Why don’t we try to appease republicans and call it “The Reagan Rule”.

‘Buffett Rule’ Could Be ‘Reagan Rule,’ Obama Says - ABC News

President Obama invoked Ronald Reagan today as he pitched his proposed “Buffett Rule” for the second day in a row, arguing that the Republican icon would have supported his plan to require the wealthiest Americans to pay at least the same tax rate as the middle class.

“I’m not the first president to call for this idea that everybody’s got to do their fair share,” the president said at a White House event. “If it will help convince folks in Congress to make the right choice, we could call it the ‘Reagan Rule’ instead of the ‘Buffett rule.’”

The president quoted a speech in which Reagan said it was “crazy” that loopholes allowed millionaires to pay a lower tax rate than bus drivers.

“That wild-eyed socialist, tax-hiking class warrior was Ronald Reagan,” Obama said of the 1980s president. “He thought that in America the wealthiest should pay their fair share, and he said so,” Obama said. “I know that position might disqualify him from the Republican primaries these days but what Ronald Reagan was calling for then is the same thing that we’re calling for now, a return to basic fairness and responsibility, everybody doing their part.”

Despite what Reagan desired and what he was actually able to accomplish with a democrat controlled congress, president Obama is using the latter to obfuscate Reagan’s true intent. First of all Reagan was able to lower the capital gains rate from 25% to 20%. But he desired to reduce it further to 17.5%

Reagan said:

“To marshal more venture capital for new industries — the kind of efforts that begin with a couple of partners setting out to create and develop a new product — we intend to lower the maximum capital-gains tax rate to 17-1/2 percent.”

Reagan lost the battle to lower it further, in fact had to raise it in favor of lowering marginal income-tax rates; which Obama is not interested in.

This is an opportunity for Romney (and GOP members of congress) to put the spotlight on how desperate Obama is, that he would completely distort a former dead president’s words to suit his selfish and greedy political purposes. How convenient and cowardly he would pick a president that can’t defend his own words.

HW where are you? Speak up!

 

[Hank]

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