Cavuto Suggests Ronald Reagan Engaged In Class Warfare
August 12, 2011 6:04 pm ET by Adam Shah
When progressives argue that very wealthy people should be paying a greater share of taxes, Fox and others on the right accuse progressives of pushing "class warfare." Fox has also repeatedly attacked the progressivity of our current income tax structure.
Today, however, Fox's Your World with Neil Cavuto, celebrated the upcoming 30th anniversary of Ronald Reagan's tax cuts by airing graphics saying the following about Reagan:
- Reagan tax cuts: 1981-1988: share of income taxes paid by top 10% of taxpayers rose from 48% to 57.2%
- Reagan tax cuts: 1981-1988: share of income taxes paid by middle class fell from 57.5% to 48.7%
- Reagan tax cuts: 1981-1988: share of income taxes paid by bottom 50% of taxpayers fell from 7.5% to 5.7%
I guess Reagan was a big class warfare guy.
Of course, there was no mention of the fact that Reagan repeatedly raised taxes during the segment. But we'll take what we can get.
The national debt doubled under Reagan
Deficits skyrocketed under Reagan
The mass exodus of American companies to Asia and Central America started under Reagan.
Funny how all of these debt fearmongers dont seem to remember that when they accuse Obama of uncontrolled spending.
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IMHO
UTOPIA
Cavuto better say his nightly prayers to Saint Ronnie with extra vigilance tonight!!!
He may have a substitute on Mon....
That's so good!! Another conservative heir got his allowance. The little conservative Wall Street terd got his allowance!! And the American middle class got theirs?
"Bill Gates pays higher taxes than Ethiopian refugees do! Take that liberals!"
Let's disappear that...
[*] Tax Equity and Fiscal Responsibility Act of 1982: +$57,300,000,000
[*] Highway Revenue Act of 1982: +$4,900,000,000
[*] Social Security Amendments of 1983: +$24,600,000,000
[*] Railroad Retirement Revenue Act of 1983: +$1,200,000,000
[*] Deficit Reduction Act of 1984: +$25,400,000,000
[*] Consolidated Omnibus Budget Reconciliation Act of 1985: +$2,900,000,000
[*] Omnibus Budget Reconciliation Act of 1985: +$2,400,000,000
[*] Superfund Amendments and Reauthorization Act of 1986: +$600,000,000
[*] Continuing Resolution for 1987: +$2,800,000,000
[*] Omnibus Budget Reconciliation Act of 1987: +$8,600,000,000
[*] Continuing Resolution for 1988: +$2,000,000,000
Source: Office of Management and Budget, Budget of the United States Government, Fiscal Year 1990 (Washington: U.S. Government Printing Office, 1989), p. 4-4.
Deficit Reduction Act of 1984: +$25,400,000,000
Though not nearly as much as their share of the INCOME went up under his economy