Bloomberg Insider brands Reagan 'socialist'

[jmowreader]

5. He did two tax cuts and eleven tax increases

Reagan was clever: he lowered tax rates while eliminating deductions and credits. What's clever about this is most far-right types think the rates are the only thing that determines how much tax you pay. If you were to take 500 teabaggers, tell them you were lowering tax rates by 10 percent, eliminate enough deductions to cause their taxes to go up by $500 per year, then ask them what happened to their taxes, every one of the 500 will tell you they got a tax cut. Guaranteed.