Reagan’s statement concerning 1982 tax increase is responded to by Republican Candidates in this clip below:
Washington Could Learn a Lot from a Drug Addict
Concerning spending cuts Reagan believed, that members of Congress “wouldn’t lie to him when he should have known better.” However, can you believe a drug addict when he tells you he is not ever going to do his habit again? Congress is addicted to spending too much money. Lee Edwards wrote in his article “Golden Years” about Ronald Reagan:
Sometimes Reagan went along with a pragamatist like chief of staff James Baker, who persuaded the president to accept the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), which turned out to be the great tax increase of 1982 — $98 billion over the next three years. That was too much for eighty-nine House Republicans (including second-term Congressman Newt Gingrich of Georgia) or for prominent conservative organizations from the American Conservative Union like the Conservative Caucus and the U.S. Chamber of Commerce, which all opposed the measure.
Baker assured his boss that Congress would approve three dollars in spending cuts for every dollar of tax increase. To Reagan, TEFRA looked like a pretty good “70 percent” deal. But Congress wound up cutting less than twenty-seven cents for every new tax dollar. What had seemed to be an acceptable 70-30 compromise turned out to be a 30-70 surrender. Ed Meese described TEFRA as “the greatest domestic error of the Reagan administration,” although it did leave untouched the individual tax rate reductions approved the previous year. (TEFRA was built on a series of business and excise taxes plus the removal of business tax deductions.)[xxx]
The basic problem was that Reagan believed, as Lyn Nofziger put it, that members of Congress “wouldn’t lie to him when he should have known better.”[xxxi] As a result of TEFRA, Reagan learned to “trust but verify,” whether he was dealing with a Speaker of the House or a president of the Soviet Union.
Related posts:
Rick Perry’s answer in Republican debate of October 11, 2011 (with video clip)
I really like Rick Perry because he was right when he called Social Security a “Ponzi Scheme” which it is. How did he do in the last debate? You be the judge by watching his response above. Rick Perry’s Moment Posted by Roger Pilon Last night POLITICO Arena asked: Who won the Reagan debate? My […]
Romney attacked in Republican debate of October 11, 2011 (with video clip)
I am not too pleased with Mitt Romney and the article below shows one good reason to oppose him. Can Mitt Romney Escape His Romneycare Albatross? by Doug Bandow Doug Bandow is a senior fellow at the Cato Institute. A former special assistant to Ronald Reagan, he is the author of Foreign Follies: America’s New […]
Reagan’s 1982 tax increase mentioned during the Republican debate of October 11, 2011 with video clip
Reagan’s statement concerning 1982 tax increase is responded to by Republican Candidates in this clip below: Washington Could Learn a Lot from a Drug Addict Concerning spending cuts Reagan believed, that members of Congress “wouldn’t lie to him when he should have known better.” However, can you believe a drug addict when he tells you […]
Cain’s 9-9-9 plan center stage at Republican debate of October 11, 2011 (with video clip)
Herman Cain’s 9-9-9 plan did steal the show at the Republican debate of October 11, 2011. Take a look at this article below: The Republican presidential debate in Hanover, N.H. (AP) There was one clear winner from Tuesday’s Republican presidential debate, based on the simple metrics of name recognition: businessman Herman Cain’s “9-9-9 Plan.” Virtually […]
Ron Paul speaking at Values Voter Summit
Ron Paul speaking at Values Voter Summit In this speech above Ron Paul repeats his view that we should not have a Dept of Education and the article below does the same thing. Beating Back Big (Ed.) Brother? Posted by Neal McCluskey It certainly seems quixotic to try to reverse the federal invasion of American […]
Mitt Romney’s religion is becoming an issue
This issue concerning Mitt Romney’s religion is heating up. Baptist pastor taken to task Russ Jones and Chad Groening – OneNewsNow – 10/10/2011 11:05:00 am Popular radio and television commentator Glenn Beck wrapped up the Values Voter Summit in Washington, DC, Sunday in a wave of anti-Mormonism comments lodged towards GOP presidential hopeful Mitt Romney. […]
Will the Republicans embrace an agenda that will get our country back on tract?
Will the Republicans embrace an agenda that will get our country back on tract? Republicans need to cut spending as the video above says. I wish the Republican candidates for president will embrace these policy positions: A Republican Agenda for Real Change by Doug Bandow This article appeared in Forbes on October 3, 2011 The desperate search […]
Lt Gov. Mark Darr endorses Romney
I think that many evangelical Christians may have a problem with supporting Mitt Romney who is a Mormon. I think that Romney is a very good speaker and will beat President Obama easily. He is not my favorite candidate though. John Brummett rightly noted that this endorsement by Lt. Governor was sought after by Romney […]
Ron Paul, Rick Perry and Mitt Romney have the money coming in
I really like Ron Paul and Rick Perry. Only three Republican presidential candidates are worth any money _ campaign money, that is. Mitt Romney, Rick Perry and Ron Paul have banked millions. But the other GOP candidates are struggling or broke, putting their candidacies in question four months before the first nominating contests take place. […]
Rick Perry says Social Security is a Ponzi scheme
Rick Perry says Social Security is a Ponzi scheme Rick Perry and Mitt Romney went after each other at the debate over this term “Ponzi scheme.” Over and over Rick Perry has said that Social Security is a Ponzi scheme and I agree with him. John Brummett asserted,”Rick Perry was last week’s savior, but then he […]