Our conservative friends in OC and the national conserverati from Fox News and hard core right wingers in Congress have all railed against President Obama’s plan to close loopholes to make sure millionaires and billionaires are taxed at the same rate of working class Americans. You have to be surprised that those who worship at the alter of all things Reagan would be surprised at what President Reagan said on the same issue (see the You Tube video here).
Imagine, President Reagan as a weak-livered liberal on the subject of one paying a fair share of taxes mind you!
From the Democratic Underground blog:
In a June 6, 1985 speech at Northside High School in Atlanta, Georgia, then President Ronald Reagan explained that tax loopholes allowing a millionaire to pay lower taxes that a bus driver were “crazy,” because they allowed the “truly wealthy to avoid paying their fair share”:
We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy. Do you think the millionaire ought to pay more in taxes than the bus driver or less?
Another reason the Tea Party would throw Reagan under the bus today.