David_N
DP Veteran
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So you used a liberal fact checker to defend the words of a liberal comedian. Cool.
LOL. Liberal fake checker???
http://www.politifact.com/punditfac...n-colbert-brings-ronald-reagans-tax-raising-/
Refute this:
1982: The most significant tax increase Reagan signed was also the first. The Tax Equity and Fiscal Responsibility Act of 1982 (yes, another law with a very sexy name) increased taxes by almost 1 percent of GDP.
The 1982 tax increase was "probably the largest peacetime tax increase in American history," said economist Bruce Bartlett, who advised Reagan on domestic policy and then worked as Treasury deputy assistant secretary for economic policy in the George H.W. Bush administration. (An analysis by Jerry Tempalski, an analyst in the Office of Tax Analysis with the U.S. Department of the Treasury, agrees.)
This law was driven by pressure to attack the federal budget deficit, as well as the impression that Reagan’s tax-cutting was partially responsible for lower-than-expected tax revenues.
Bartlett, who reviewed Reagan’s tax record for Tax Notes in 2011, cited a Treasury estimate that the 1982 law raised taxes by almost 1 percent of GDP, or about $150 billion in modern dollars.
Specifically, it rolled back some but not all of the 1981 tax cut for writing off equipment, and it repealed 1981 "safe harbor" leasing provisions, said Stephen J. Entin, senior fellow at the Tax Foundation and former deputy assistant secretary for economic policy in the Reagan administration.
1983: A law Reagan signed in 1983 aimed to keep Social Security afloat by increasing payroll taxes and taxing Social Security benefits for some high-earners. This cost $24.6 billion, or almost $50 billion in 2015 dollars, through 1988, according to an administration estimate.
1984: The Deficit Reduction Act that Reagan signed rolled back part of the 1981 cut on buildings, Entin said, with the idea that Congress would enact spending cuts. "But many of those cuts were either never enacted or were later restored," Entin said. This led to $25 billion in tax receipts.
Reagan also signed tax increases in 1985, 1986, 1987 and 1988 (as well as a couple other laws with revenue reductions).