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Indebted To The GOP

November 13, 2010 2 comments

Under Reagan, the US went from being a creditor nation to being a debtor nation.

Under Reagan, we tripled our national debt. Our whole debt problem started with the Reagan tax cuts & a slashed capital gains tax.

Reagan’s own budget director, David Stockman, called the Reagan tax cuts a “Trojan horse for the rich.”

In 1981, the Reagan “revolution” and tax cuts began. In October 1987 the stock market crashed. Sense a pattern here?

Dick Cheney said that Ronald Reagan “proved that deficits don’t matter.”

Under Eisenhower, the marginal tax rate was 91%. Economy must have sucked & big business must have HATED him! Oh, wait..

In 1924, Calvin Coolidge cut personal income tax rates from 73% to 46%. 4 years later the stock market crashed. Sound familiar?

Herbert Hoover also cut taxes after the stock market crash of 1929. How'd that work out?

After FDR put in financial regulations, we didn’t have a banking crisis until the S & L scandal of the 1980s.

The only modern Presidents to submit a balanced budget were Jimmy Carter & Bill Clinton.

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