PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: greenspirit who wrote (140202)	4/22/2001 11:51:44 PM
From: Scumbria	Read Replies (1) of 769667

Michael, You are arguing philosophy. I'm showing you historical fact. Reagan's tax cut was a disaster. Dole soon regretted Reagan's tax cuts and loopholes, and a year later, he reversed many of them in the Tax Equity and Fiscal Responsibility Act of 1982. TEFRA lopped nearly $100 billion off the deficit, primarily by closing corporate loopholes and soaking the wealthy. Dole designed it, persuaded Reagan and Republican senators to support it, and rammed it through despite resistance from House GOP supply-siders and a swarm of special interests. Ralph Nader's Public Citizen anointed Dole "the architect of the best tax-reform bill in memory." Dole secured the passage of another $50 billion tax hike in 1984. That fall, Republican senators elected him majority leader precisely to declare their independence from Reagan. Nominating Dole for the job, Sen. John Danforth (R-Mo.) stressed that Dole would "not cave in to the administration." motherjones.com Scumbria

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