Clueless freeper concocts Palin's WINNING platform: "restoration of ALL the Reagan Tax Cuts!"

[Amerigo Vespucci]

A Platform for Palin- The 7% Solution: Don't extend the Bush tax cuts; Restore the Reagan ones!
12/3/2010 | Brices Crossroads

Posted on Friday, December 03, 2010 7:45:23 AM by Brices Crossroads

Hardly a day goes by that we taxpayers are not bombarded by pleas from FOX News and elsewhere to extend the so-called "Bush tax cuts" and warnings of the dire consequences to follow if they are not extended. Whenever I hear it, I am tempted to shout, "There is no such thing as a Bush tax cut." What? Didn't George W. Bush cut taxes (temporarily) in 2001 and 2003 and aren't those cuts set to expire at midnight on December 31, 2010? Well, yes and no. As the Gipper used to say, let's take a little walk down memory lane.

When Reagan arrived in Washington in 1981, the top marginal rate on earned income was a stratospheric 70%. Although he cut taxes by 23%, phased in over three years, dropping the top rate to 50% for the first three years of his administration, it was the 1986 tax cut that was the most significant. In it, Reagan was able to negotiate a deal with the Democrat House to slash the top marginal rate to 28%, which is where it stood when he left office.

Hardly had Bush 41 unpacked his bags in the White House to serve Reagan's third term (with the chants of "Read my lips, no new taxes" ringing in our collective ears) when he was rolled by the very same Democrat Congress that Reagan had played like a virtuoso. In the interest of "deficit reduction" Bush agreed to raise taxes "on the rich" in 1990 and the top marginal rate rose to 31%. In so doing, Bush not only broke his oft-repeated promise NOT to raise taxes, he weakened the booming economy he inherited from Reagan just enough to cause a small recession (that the media magnified), increased federal spending (which drew the Perot challenge) and presto! Bill Clinton defeated him with a plurality of the vote. Clinton promptly raised taxes again, hiking the top marginal rate from 31% TO 39.6% where it stood until George W. Bush arrived in 2001 and, with solid control of both houses of Congress managed a dinky little temporary tax cut, reducing the top marginal rate from 39.6% to 35%, thereby returning to the American people (temporarily) less than half of the tax increase foisted on us by the Bush-Clinton regime of the 1989-2001 (And yes, I blame Bush for the Clinton tax hike as well since his lack of fidelity to his promise and his incompetence led directly to Clinton).

Back to Palin. If she wants to run on a bold agenda that will not only promote freedom and growth, and differentiate herself from the big government, high tax, kennel fed "conservatives" typified by the Bushes and their Establishment lackies, then I can think of no better platform than calling for the restoration of ALL the Reagan Tax Cuts purloined by the Bush-Clinton axis of big government. Give us back the other seven percent. And watch the American economy soar.

Reduce the top marginal rate from 35% all the way to 28%....the Seven Percent Solution. Don't extend the Bush tax cuts. Give us back the Reagan ones!

[n2doc]

1. I would go for that!

Bring back Reagan's tax rates! Better yet, Bring Back Eisenhower's tax rates!

[thereismore]

2. She's got my support! nt

[Fuzz]

3. One thing they don't realize is that when Reagan lowered the rate

he also lowered the level of taxable income needed to hit that rate so that more people had to pay that higher rate. From 88-90 it was between 29-32k a year.

[louis-t]

4. What this idiot doesn't recall is

Reagan nearly tripled the debt of this country. I am assuming he's also a fiscal conservative.

[Canuckistanian]

5. Remove the FICA tax as well?

That would be awesome. The economy would be stimulated in no time.