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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Sdgla who wrote (37285)	1/8/2013 10:49:43 AM
From: Wharf Rat	2 Recommendations Read Replies (1) \| Respond to of 85487

Reagan grew revenue" "What a novel idea. He raised revenue by raising taxes, about 11 times. Reagan raised Taxes He advocated reduced business regulations, controlling inflation, reducing growth in government spending, and spurring economic growth through tax cuts. He believed that such tax policies would create a "trickle-down" effect to the poor, but the policies failed to work. Investments declined and savings plummeted. Unlike the GOP idiots today, Reagan had the good sense to course correct. His tax-cutting policies were so devastating to the economy that Reagan signed a massive tax increase the following year and several increases in the years that followed. In fact, he raised taxes 11 times! Source: Office of Management and Budget, Budget of the United States Government, Fiscal Year 1990 According to David Stockman, a director of the Office of Management and Budget under President Ronald Reagan: “The debt explosion has resulted not from big spending by the Democrats, but instead the Republican Party's embrace, about three decades ago, of the insidious doctrine that deficits don't matter if they result from tax cuts.” thepragmaticpundit.com