I’m almost starting to like Michele Bachmann and feel sad that her campaign will still come to an end. No other presidential contender has ever provided us with such an endless stream of comic relief. Each new gaffe leaves the last one in the dust.
In an appearance Thursday morning on Fox News, Michele Bachmann might have put forward the boldest tax proposal of all Republican candidates: Raising taxes to where they were when Ronald Reagan was president.
Bachmann criticized Herman Cain’s “9-9-9” tax plan, and its inclusion of a national sales tax.
“For my tax plan, I take a page out of one of my great economists that I admire, Ronald Reagan,” Bachmann boasted. “And under my tax plan I want to adopt the Reagan tax plan. It brought the economic miracle of the 1980s. Why not go with what works? I want to reinstitute the Reagan tax model from the 1980s.”… [emphasis added]
Inserted from <TPM>
Don’t believe it? Here’s the video.
Michele, under Reagan the top marginal tax rate was 50% on $250,000 or more!
20 Responses to “Bachmann proposes a tax INCREASE!”
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There she goes again rewriting history.
Reagan was an economist? I always thought he was a bad actor.
That too.
What Amber said!
I think she might have just lost her Tea-Bag base.
They are currently Teabuggering 9-9-9.
What is scary about this ding bat— she was ..is? a serious contender for the Presidency–
was … is not toast
To the woman with the IQ of a grape, I wish to extend a sincere “Thank You! Thank You!! Thank You!!!”
Now all the Democrats need to do is re-package those tax increases on the wealthy as the “Ronald Reagan’s Renew America Tax Plan” … and dare the repubicans to vote against it!
Hey, grapes are good! That’s insulting to grapes! LOL
Headline: Grapes Sue nameless!
Sour Grapes! 👿
That may be the first thing that Bachmann has said that I agree with. Let’s go back to the tax rates that Reagan had.
for the top 2%, that works.
Sorry Tom, but she is such a nut case I can not even be amused by her.
I understand.
Don’t be too hasty hurrahing this or suggesting the Dems support it. What was the middle class tax rate in the Reagan era? I don’t remember…
A reasonable concern. Here’s an excellent and very detailed resource titled “U.S. Federal Individual Income Tax Rates History, 1913-2011” from the Tax Foundation Organization. And at that above hyper-link site, you can download a copy of it either as a PDF or an Excel Spreadsheet:. (NOTE: For tax years beginning after December 31, 1984, each tax bracket was adjusted for inflation.)
To be sure, taxes were higher on everyone during the 80’s – and given the number of tax brackets back in the 80’s it’s a little hard to answer. While Reagan’s tax cuts overwhelmingly favored the rich, it should be remembered the rich back in 1984, for example, were taxed at a 50% rate for an inflation-adjusted incomes over $162,000 in today’s dollars.
So basically I think the popular liberal plea that the rich in our nation “Share the Sacrifice” was more in practice back then – and that’s not a bad thing.
Back then, it was 18% from $20-60K, middle class in those days.
And they say blondes are dumb! (BTW, I am, or at least was, until I went gray, a blonde!) Bachmann really does take the cake. When did Reagan become an economist? I didn’t think he could even spell the word. He had the intelligence of a jelly bean, and they aren’t all that intelligent since they get eaten all the time. Hmmmm jelly beans, I haven’t had one in years and now I want some red and white jelly beans!
Like Upton, I wonder what the middle class tax rate was when Reagan was around, but certainly a 50% tax rate for those at $250K/yr sounds good to me. Almost sounds like Canada!
See my reply to him.
May I call you Blondie? 😉