Of course Republican Tea Party (GOTP) hopeful Michelle “Krazy” Bachmann would declare on FOX PAC that she wants to adopt the Reagan tax plan, it’s where every desperate conservative candidate hoping to regain ground goes; apparently however, she doesn’t understand that would mean a rather hefty tax increase to put the tax rate where it was under the Gipper.
Krazy has been very scornful of Herman “Pizza Man” Cain’s “9-9-9” tax plan, especially of the idea 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 said. “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.”
Excuse me? Krazy is of course a dyed in the wool conservative who has selective memory regarding the Reagan “economic miracle” and what caused it. While it’s true Reagan cut taxes in his first year, he subsequently raised them, including some of the highest tax increases by any U.S. President during peace time (https://thelibertytree.wordpress.com/2011/07/19/reagan-was-not-a-tax-cutter-he-was-a-tax-raiser/ ).
Reagan’s “tax cuts” led to an increased tax burden on all Americans, and an exploded deficit and national debt – the “golden era” of Reaganomics actually lasted less than a year when it was realized it wouldn’t create the revenue the administration had predicted, but conservatives will never admit this, and will go gaga over any politician who proclaims they’re the next Reagan; well Ms. Bachmann, I knew Ronald Reagan, and you’re no Ronald Reagan, you’re not even a Michael Reagan.
The Liberty Tree 