Text of Reagan Speeches for Taxing Wealthy.
I typed the text of his speeches calling for taxing the wealthy in 1985 to make it easier to share with your GOP friends.
President Reagan speech, Bloom High school, Chicago June 28th, 1985:
"Just a moment ago I was telling the people inside this building of a letter I just received day before yesterday. Its a letter from a man out here in the country, an executive who's earning in the 6 figures well above $100,000 a year.
He wrote me in support of the tax plan, because he said, 'I am legally able to take advantage of the present tax code, nothing dishonest, doing what the law prescribes, and wind up paying a smaller tax than my secretary pays.'
And he wrote me the letter to tell me he'd like to come to Washington and testify before Congress as to how that's possible for him to do and why it is wrong."
Pres. Reagan speech, Northside High School, Atlanta, Georgia June 6, 1985:
"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 loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy. [...]
Do you think the millionaire ought to pay more in taxes than the bus driver or less?"
....Audience roars back, "MORE!!"
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Sen. Chuck Schumer defended proposals to raise taxes on the wealthy as an issue of fairness Monday ahead of President Barack Obama’s trip to Florida this week to tout the “Buffett rule.”
“This is such a bogus argument,” the New York Democrat said on CBS “This Morning” when asked to comment on Republican charges that Democrats are taking up the issue only because of the fall election
. “We have believed, as a country, that higher-income people should pay a higher percentage of income since the 16th Amendment, which was 1912. It came in with Woodrow Wilson and the Progressives.”
“There’s no class warfare involved; it’s a question simply of fairness,” he said.
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Wilson ROSE the top tax rate to 77% during WW1.
Bush CUT the top tax rate from 40% to 35% during his wars.
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