General Discussion
In reply to the discussion: Someday it will be crystal clear to all just what a terrible president Ronald Reagan was- [View all]DENVERPOPS
(8,802 posts)the Payroll taxes by doubling them to 15%.......Then they dumped all that money in the general account, declared that we could cut income taxes because we had a surplus, and did bunches of tax cuts that only went to the rich.
Actually, it was Bush/Cheney.....Reagan was just a puppet.
Not only that, he creamed the tax deductions middle class people used for years.
Two of the biggest being: All medical expenses, even a bottle of aspirin had been a tax deduction. Next was all interest except for a home mortgage was done away with. These were two overwhelming blows to the middle class, along with the Payroll taxes double to 15%. We were in the middle of a recession and people were living off their credit cards.......He did away with the "Usury" interest tax laws. The maximum that could be charged borrowers on credit cards and car loans etc was 12% when he took office. Bush Cheney repealed that and made the top rate allowed to climb to 24%....
I could go on and on. The common thread thru the past 40 years was HWBush, Cheney, Rumsfeld, Pearle, Wolfowitz and dozens of others in their cabal.........Over 100 were convicted in the Reagan admin, and HW Bush pardoned them all the first day in office and brought them into his admin. Same group was re-installed by Cheney during the WBush administration........