August 17, 2012 § 1 Comment
“We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loop holes are understandable, but in practice they sometimes made it possible for millionaires to pay nothing while a bus driver was paying 10% of his salary and that’s crazy.”
- Ronald Reagan
- Source: video
- Context: Ronald Reagan also proposed that the wealthy pay their fair share, which is one of the pillars of Obama’s 2012 presidential campaign. As a matter of fact, Reagan raised taxes several times during his administration. In recent years, economists and politicians within Reagan’s administration, such as Bruce Bartlett and David Stockman, who helped create “The Reagan Budget”, have come out against the Republican Party and its economic policies.