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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (955149)	8/8/2016 5:40:08 PM
From: Ron	Read Replies (2) of 1575182

This mouthing of GOP platitudes about Reagan... is a big problem for Republicans. Until you learn to deal in facts.. you're going to be facing many more years like this one. The year of Trump: Reagan’s tax increases 1982: The most significant tax increase Reagan signed was also the first. The Tax Equity and Fiscal Responsibility Act of 1982 increased taxes by almost 1 percent of GDP. The 1982 tax increase was "probably the largest peacetime tax increase in American history," said economist Bruce Bartlett, who advised Reagan on domestic policy and then worked as Treasury deputy assistant secretary for economic policy in the George H.W. Bush administration. (An analysis by Jerry Tempalski, an analyst in the Office of Tax Analysis with the U.S. Department of the Treasury, agrees.) This law was driven by pressure to attack the federal budget deficit, as well as the impression that Reagan’s tax-cutting was partially responsible for lower-than-expected tax revenues. Bartlett, who reviewed Reagan’s tax record for Tax Notes in 2011, cited a Treasury estimate that the 1982 law raised taxes by almost 1 percent of GDP, or about $150 billion in modern dollars.

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