FTFY. Aren't you the self-proclaimed Laffer Curve expert on this board? How can you forget that under Ronnie (your hero) tax revenues surged by 65%?
Fact Jack.
Originally Posted by lustylad
That would be called Government spending. Reagan went on a stimulis spending spree.
Which does not change the fact that he lowered the taxes on the more affluent and made that up by raising them on the poor and middle class with his so called
Saving SS.
For dumbasses like you and LexusLiar that is wtf Sen. Daniel Patrick Moynihan meant. He realized that the administration was just playing a shell game.
http://articles.latimes.com/1989-12-...ocial-security
WASHINGTON — A key senator Friday advocated cuts in the Social Security payroll tax that would save 130 million workers and employers a total of $62 billion during the next two years.
The proposal by Sen. Daniel Patrick Moynihan (Y.) would cancel a 0.14% increase in the levy scheduled to take effect on Jan. 1 and would lower the rate by an additional 0.96% for workers and employers in 1991.
Moynihan, who as chairman of the Senate Finance subcommittee on Social Security is in a crucial position to advance his plan, said that it would put the retirement system back on a pay-as-you-go basis instead of amassing trust fund surpluses exceeding $200 billion in the coming decade.
"The Administration is content to see the budget deficit gradually eliminated by the growing Social Security tax revenue," Moynihan said at a news conference. "This . . . perverts the original purpose for the surpluses--to provide for the retirement of the baby boom (generation) in the next century