Politics > Politics-USA > YET another VRWC! Ronald Reagan's shenanigans with the tax code? 'Member THAT one?
| Topic: |
Politics > Politics-USA |
| User: |
"itellitlikeitis" |
| Date: |
04 Jun 2007 06:45:07 PM |
| Object: |
YET another VRWC! Ronald Reagan's shenanigans with the tax code? 'Member THAT one? |
How true...true enough to deserve a new title - YET ANOTHER VRWC!.
AND propogation to many, many other groups. Especially those that
those evil footslaves and bootlickers of the evil idol Ronald Reagan
frequent. I know it will bring them much, much misery!
GREAT IDEA! I LOVE IT!
On Jun 4, 6:48 pm, "Biscuits and Books"
<Cheney_did_Bar...@earthlink.net> wrote:
Ever since Reagan fucked with the tax code in '86, we LOST money. His
changes really did a job on the middle class.
<i_tell_it_like_it_i...@yahoo.com> wrote in message
news:1180997086.595905.120410@p47g2000hsd.googlegroups.com...
I also always wondered if there wasn't a deal of some sort to hold off
on the release of the embassy hostages in Iran.. There were certain
things that Reagan attempted that no other president had or will have
the brains or the balls to do, like straighten out the idiotic income
tax system. At least he knew what the word conservative meant.
.
|
|
| User: "tgm" |
|
| Title: Re: YET another VRWC! Ronald Reagan's shenanigans with the tax code? 'Member THAT one? |
09 Jun 2007 01:10:42 AM |
|
|
In article <1181000707.908075.259120@p77g2000hsh.googlegroups.com>,
i_tell_it_like_it_is_9@yahoo.com says...
How true...true enough to deserve a new title - YET ANOTHER VRWC!.
AND propogation to many, many other groups. Especially those that
those evil footslaves and bootlickers of the evil idol Ronald Reagan
frequent. I know it will bring them much, much misery!
GREAT IDEA! I LOVE IT!
On Jun 4, 6:48 pm, "Biscuits and Books"
<Cheney_did_Bar...@earthlink.net> wrote:
Ever since Reagan fucked with the tax code in '86, we LOST money. His
changes really did a job on the middle class.
<i_tell_it_like_it_i...@yahoo.com> wrote in message
news:1180997086.595905.120410@p47g2000hsd.googlegroups.com...
I also always wondered if there wasn't a deal of some sort to hold off
on the release of the embassy hostages in Iran.. There were certain
things that Reagan attempted that no other president had or will have
the brains or the balls to do, like straighten out the idiotic income
tax system. At least he knew what the word conservative meant.
Reagan knew so much about the tax system that he CAUSED the savings and loan
disater of the eighties.
In 1984 Reagan passed the TEFRA act that was supposed to close tax loopholes
that were increasingly benefiting the medium income investors instead of just
the ultra rich.
One such "tax loophole" was real estate partnership investments in office
buildings. These investment were highly leveraged by the Savings and Loan
institutions. As soon as the TEFRA act was passed these partnerships lost their
competitive advantage; (ie tax right offs), and savvy investors went elsewhere.
The value of their holdings fell dramatically, the partnerships went under and
the Savings and Loan Industry were left holding the bag.
Foreclosing on now overvalued,(thanks to Reagan and TEFRA), office buildings not
only diminished the Savings and Loans net worth but also decimated their income
from payments from these same partnerships.
We all know what happened next; Reagan ignored the FDIC insurance caps and
guaranteed payment to all his well heeled buddies, causing the biggest transfer
of taxpayer dollars to the wealthiest entities, in the history of the United
States.
BTW; Shifting the burden of taxes from 50% Corporate and 50% Individual to 20%
Corporate and 80% individual was Reagans idea of "straightening out the idiotic
income tax system":-(
Tom
Tom
.
|
|
|
|
|
Related Articles |
|
|
