Friday, April 13, 2012

Raygun Praised The Buffet Rule

On taxes, Republicans repudiate Ronald Reagan - Chicago Tribune
...McConnell and other Republicans also say they could never ask millionaires to pay more because that would violate the spirit of Republican icon Ronald Reagan, which just proves that they don't know Ronald Reagan any better than some evangelists know Jesus.
President Reagan, in fact, did not oppose the principle of the Buffett Rule. He was the first to champion it. Speaking at Northside High School in Atlanta, Ga., on June 6, 1985, Reagan vowed to get rid of loopholes that created unfairness in the tax code. "Some of those loopholes were understandable," he acknowledged, "but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying 10 percent of his salary -- and that's crazy!"
A few weeks later, speaking at the White House, Reagan doubled-down on tax fairness, citing a letter he'd received from a wealthy American who, like Buffett, simply by taking advantage of loopholes, was able 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!"
Do I ever see a Democratic ad lurking here-- especially if they can find some video.

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