Taxes Higher Under Reagan Or Obama?

Cenk Uygur explains how taxes were actually much higher under president Ronald Reagan compared to today under president Barack Obama.

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[groam6666]

@4yourinformationhaha Also, due to inflation taxes have to be lowered to prevent people from moving into higher tax brackets, even though their income stayed the same. It's why the percentage of total govt revenue has stayed near 32% to gdp in the last 40 years, even though taxes have been lowered.

It's really about preference more than anything else. I prefer large long term growth, over immediate gains. How is what I've said false, unrealistic, and romantic idealism?

[groam6666]

@4yourinformationhaha Well, taxes are a big concern when it damages gdp growth, while the population is rapidly growing, but that's not the only concern (I know we pay lower taxes today, I made that point in my first post here). The "crowding out" affect is the most detrimental. There have been a number of studies that have looked into this, and as it turns out, countries with lower spending and taxes to gdp, have very high economic growth.

[4yourinformationhaha]

@groam6666 You wrote "So, Obama is great because he somehow inherited lower taxes?"

You're missing the point. Republicans like to run around screaming that Obama is TAXING us to death, and oh how we miss the days of Ronald Reagan and his low taxes. However the actual statistics suggest we pay lower taxes now than we did in the 80's.

Conservatives positions are based in mostly false, unrealistic, romantic, idealism; while liberal's position are based in reality..

[Loejyrrab]

@Zachary Well then, what did he say that was false? Enlighten us.

[Loejyrrab]

@groam6666 Reagan began the era of deficit spending. His OWN budgets had huge deficits.Massive across the board tax cuts=massive deficits. The Bush tax cuts? Again,huge deficits. It's not rocket science. Wealth redist? Merely a slogan. We have def's cause Bush put 2 phony wars ON CREDIT CARDS. Tax cuts and drug prog's also on credit. Our kids&grandkids will have to pay those debts. Tech boom? Sure it helped, but Clinton also cut taxes correctly,on the mid.class. He cut welfare too.He did well!

[groam6666]

@Loejyrrab Interesting, your correct about Regan deficits, but that also means that lower taxes increase GDP growth and employment. We wouldn't have a deficit if the federal govt stopped their wealth redistribution programs. The states can handle that much more efficiently than the federal govt.

Clinton raised taxes and expanded the federal govt, but govt spending to GDP decreased, why? The states began cutting their taxes. You also should consider the tech boom and .com bubble.

[Loejyrrab]

@groam6666 Yes, there's been a "large movement to lower taxes" The result? massive new deficits. Reagan nearly tripled the national debt in 8yrs, Clinton, conversely, didn't add a dime to the debt in his 8yrs. In fact, he produced a surplus. Then comes Bush who blew the debt from 5 to 11 tril. What is the lesson? Republicans, for all their talk of competency, can't handle money. In fact, they are totally inept at governing. They should be forcefully disbanded and jailed for criminal negligence.

[Loejyrrab]

@GrandAmGT1990 Would you please re-read your post. Tell me, what are you saying.