Friday, July 1, 2011

Reagan: Too much of a left-wing socialist for today's GOP?

Reagan dramatically cut taxes in 1981, severely worsening the deficit situation. He then spent the rest of his administration raising taxes for deficit reduction. He's now a conservative hero.

George W. Bush dramatically cut taxes in 2001 and 2003, severely worsening the deficit situation. President Obama comes along and proposes take a page out-of-Reagan's playbook- raising revenues for deficit reduction, in addition to spending cuts totaling well over $1 trillion.

Conservative reaction: Obama is engaging in class warfare. There must never be tax increases as part of deficit reduction.

No comments: