benderb4
Banned
Registered: Dec 2019
Location: Everywhere
Posts: 1058 |
best u can do .dig up 35 year old news?
tel u what fella I remember Reagan years. Some of best livin we did.money went further to. had fair money comin in but we did all right. Far I believe ole Reagan was greatest pres in last 60 years.never liked kennedy. family was booze runners .
Here is truth. those tax u talk bout only went for higher ups and evaders I don't see any thing wrong with what he did unless you are one of them rich ole boys that wasn't payin enuff
copied
The bills didn't raise more revenue by hiking individual income tax rates though. Instead they did it largely through making it tougher to evade taxes, and through "base broadening" -- that is, reducing various federal tax breaks and closing tax loopholes.
"What people forget about Ronald Reagan was that he very much converted to base broadening as a means of reducing deficits and as a means of tax reform,"
In 1983, for example, he signed off on Social Security reform legislation that, among other things, accelerated an increase in the payroll tax rate, required that higher-income beneficiaries pay income tax on part of their benefits, and required the self-employed to pay the full payroll tax rate, rather than just the portion normally paid by employees.
The tax reform of 1986, meanwhile, eliminated or reduced many tax breaks and shelters, high-income tax filers who previously paid little ended up with bigger tax bills.
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Last edited by benderb4 on 01-02-2020 at 04:04 AM
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