The problem VOR is NOBODY wants to pay their fair share. The "poor" feel that they should pay no income tax as they don't make enough, and now between 47 to 51% of Americans are at this level and pay no income tax. The rich feel like they are being hosed by the government so they do everything they can to avoid taxes and look for loopholes with their accountants. Everybody is playing the game. That is why I too support a fair tax. Sorry, but everybody but the poorest of the poor should be paying an income tax.

 

As to the rest of your post, I don't agree, numbers are always relative.....to you it is easy to say another rich person should pay 40% of their income to taxes, after all they can afford it. To me, they earned their money and they should pay no more or no less than anyone else. Your ideas border on socialism and I am saying that to you not to agitate you. That would be the same as saying if you have 4 children that you care for , and I can't have any, that you should give me one of yours, because you would still have three left and I have none. That makes no sense to be whatsoever.

 

The wealthiest Americans are paying far less in taxes than they did during most of the last century. The top income bracket (35%) today is half of what it was during the four decades between 1940 – 1980 (varied between 70% - 92%). CNN reported last night that in every poll the American public would support some form of tax increases along with reforming entitlements.

The graph above is very misleading....which I would conclude was the intent. T

 

Which graph?

because Regan cut most tax rates for everybody and it resulted in higher revenue to the government.

 

Seems the implication is that Reagan raised taxes. He did not. He did increase revenue. And congress spent like crazy.

 

President Regan cut the marginal tax rate initially upon entering office. However, he then spent a lot and raised taxes 11 times.

Spending is the problem. No amount of raising taxes on any group or groups will solve the problem and probably will not make much of a dent.

I only see one you posted.....how many do you see? Also, feel free to re-write history as you see fit Regarding the Reagan tax policy.

I only see one you posted.....how many do you see? Also, feel free to re-write history as you see fit Regarding the Reagan tax policy.

 

Was something wrong in what Clyde posted? If yes, tell us what and explain what happened to taxes under Reagan.

Was something wrong in what Clyde posted? If yes, tell us what and explain what happened to taxes under Reagan.

 

I didn't scroll back through it. However, I'm not sure how your answer fit the graph. Do tell.

 

Then tell me where I'm wrong on President Reagan's tax history.

 

I love to be educated.

Spending is the problem. No amount of raising taxes on any group or groups will solve the problem and probably will not make much of a dent.

 

Overall, I agree.

I started to play that game and ask you to elaborate on each of the 11 Reagan proposed tax increases but decided that is too easy. Reagan did not propose TEFRA which would be the bulk of any income tax increases...this was a compromise with Congress who proposed the increases, but Reagan then required a 3 to 1 reduction in spending for each % increase in taxes.

 

I see a philosophical difference in compromising with a tax increase versus proposing one. Other taxes increases were consumption...fuel for example.

I started to play that game and ask you to elaborate on each of the 11 Reagan proposed tax increases but decided that is too easy. Reagan did not propose TEFRA which would be the bulk of any income tax increases...this was a compromise with Congress who proposed the increases, but Reagan then required a 3 to 1 reduction in spending for each % increase in taxes.

I see a philosophical difference in compromising with a tax increase versus proposing one. Other taxes increases were consumption...fuel for example.

 

I'm not being critical of President Reagan. He did what he thought was best.

 

However, he raised taxes. He raised payroll taxes. He raised the gas tax. He enacted the largest corporate tax increase.

 

He greatly increased the size of govt when he created the Dept of Veteran Affairs which added 60k jobs. He greatly increased the Pentagon budget.

 

We can all debate whether those were the correct and prudent moves but we can't say that he was anti-tax and anti-spending. He did what he thought he had to do but many have selective memory.

 

So about that graph? How was it misleading?

I started to play that game and ask you to elaborate on each of the 11 Reagan proposed tax increases but decided that is too easy. Reagan did not propose TEFRA which would be the bulk of any income tax increases...this was a compromise with Congress who proposed the increases, but Reagan then required a 3 to 1 reduction in spending for each % increase in taxes.

 

I see a philosophical difference in compromising with a tax increase versus proposing one. Other taxes increases were consumption...fuel for example.

 

And kudos to Reagan for that!! If Obama and the Congress could reach a compromise, this debt issue could be solved relatively soon. But I don't think Boehner is willing to compromise.

Sorry for the slow reply. I think it is misleading because, if I read it right it is in gross figures, not percent. I don't think one graph usually tells a complete story anyway. Taxes are down now in gross due to the poor economic climate, AND the fact that many large companies are moving value add income to lower marginal tax, lower cost countries such as China. I read a note this past week also that nationally 20% of individual income is now tied to government payments which makes me wonder if we have a lot of lower income people than we had before. Is much of the middle class falling down to this range?

And kudos to Reagan for that!! If Obama and the Congress could reach a compromise, this debt issue could be solved relatively soon. But I don't think Boehner is willing to compromise.

 

How exactly has Obama been willing to compromise???

How exactly has Obama been willing to compromise???

 

He has been making concession all along. He has even offered to means test medicare this week. The cuts are much deeper than his base would like.

Sorry for the slow reply. I think it is misleading because, if I read it right it is in gross figures, not percent.

 

The graph represents % of total deficit reduction bill that is made up of spending cuts and tax increases. Total $$ are not used.