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27. Jimmy Carter was president in 1980...

Fri Jun 10, 2016, 01:50 PM

Jun 2016

You're right. The graphic is (I believe) referring to the Reagan tax cuts which couldn't have occurred until Reagan became president in January of '81.

So, while we discuss 1980 as kind of the beginning of the Reagan administration in general terms because that's the year he won the election but his tax cuts didn't take effect until later.

Yes, the top income tax rate was 70% in 1980 and it was lowered to 28% under Reagan.

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Pic Of The Moment: No Difference Between The Two Parties? [View all] EarlG Jun 2016 OP

President Obama has done a fantastic job. nt BootinUp Jun 2016 #1

K&R a million or so times! eom BlueMTexpat Jun 2016 #4

What's his rate for offshore tax havens? nt The Far Left Jun 2016 #47

Um, sorry, but ... Scuba Jun 2016 #2

Those are not the only taxes out there, though NewJeffCT Jun 2016 #5

Do you agree or disagree that the top rates are lower than in 1980? Scuba Jun 2016 #7

the top marginal tax income rates were higher in 1980 NewJeffCT Jun 2016 #14

Still much lower than in 1980. Scuba Jun 2016 #15

Yes NewJeffCT Jun 2016 #23

Sorry, but ... aggiesal Jun 2016 #24

I initially said NewJeffCT Jun 2016 #26

So your point is that loopholes created opportunities to avoid taxes. Still true today. Scuba Jun 2016 #28

A lot of things you could deduct in 1980 went away under the tax deal under reagan 7962 Jun 2016 #37

You mentioned the following ... aggiesal Jun 2016 #32

Jimmy Carter was president in 1980... Blanks Jun 2016 #27

Those are payroll taxes, ... aggiesal Jun 2016 #19

Pete Peterson. Was he one of the billionairs that received a tax free loan from raised proceeds DhhD Jun 2016 #53

1980 is irrelevant creeksneakers2 Jun 2016 #41

Thank you. I was thinking there was something a little off with that overly sunny news story. reformist2 Jun 2016 #45

Nobody would sensibly argue that there's NO difference whatsoever between the two parties. But Gene Debs Jun 2016 #3

So THAT's what all that repeal hoo-hah was really about. I think a lot of citizens were unaware. ancianita Jun 2016 #6

The Epic Inanity of ‘Both Parties are the Same’ L. Coyote Jun 2016 #8

Please make this an OP MH1 Jun 2016 #16

You just provided a perfect description of the "Good Cop/Bad Cop" scam. arcane1 Jun 2016 #42

And the same party complains about too much government, too big, too much Thinkingabout Jun 2016 #51

On the other hand, both parties are in agreement on wars and fracking and messing with Social djean111 Jun 2016 #9

They aren't paying a higher percentage Gore1FL Jun 2016 #10

LOL! Not nearly enough. nt Dawgs Jun 2016 #11

I'm paying more taxes now too. progressoid Jun 2016 #12

we have states that are dying on the vine due to republican governors demigoddess Jun 2016 #13

Not the time for back slapping Wibly Jun 2016 #17

would be nice to see Obama pardon Pelltier PatrynXX Jun 2016 #21

so Hillary being his chosen successor is a very good thing MariaThinks Jun 2016 #18

Don't know who's saying that PatrynXX Jun 2016 #20

well, the good cop/bad cop, faux duopoly, janus-like condition in DC stupidicus Jun 2016 #22

I agree Andy823 Jun 2016 #25

+1 lovemydog Jun 2016 #31

K & R! HuckleB Jun 2016 #29

k & r lovemydog Jun 2016 #30

... FailureToCommunicate Jun 2016 #33

Practically NO ONE ever paid those high rates. Everyone knows that. 7962 Jun 2016 #38

So? JackRiddler Jun 2016 #54

Good points. And JackRiddler, don't we WANT Hortensis Jun 2016 #55

Indeed Yo_Mama_Been_Loggin Jun 2016 #34

Yet the stock market has been soaring and millions of new jobs IronLionZion Jun 2016 #35

Explain the difference between the two parties OnyxCollie Jun 2016 #36

I am a little lost humbled_opinion Jun 2016 #39

Makes sense. Continuing Bush's wars isn't cheap, and they don't pay for themselves arcane1 Jun 2016 #40

Thanks, Obama....! ;-> nt SusanCalvin Jun 2016 #43

Yeah, that narrative is quite simplistic seanbnewyork4 Jun 2016 #44

I lulz'd KG Jun 2016 #46

Can the president take credit for the 2012 repeal of some hughee99 Jun 2016 #48

Why are we not ALL paying higher tax rates? MadDAsHell Jun 2016 #49

It's really great that they are paying more tax money. glowing Jun 2016 #50

K&R betsuni Jun 2016 #52