Yesterday, we posted a video of conservative icon Ronald Reagan saying that it’s “crazy” that tax loopholes would allow a millionaire to pay lower taxes than a bus driver, using the same sort of language that President Obama has employed when describing the “Buffett rule” (which would ensure that millionaires can’t pay lower taxes than middle-class families). During a speech today in Texas, Obama used Reagan’s quote to slam Republicans who have been deriding the Buffett rule as “class warfare.” “Last time I checked, Republicans all thought Reagan made some sense,” he said:
Now, when I point this out, some of the Republicans in Congress say, ‘oh you’re engaging in class warfare.’ Let me tell you something. Years ago, one great American had a different view. I’m going to get the quote, just so you know I’m not making this up. A great American said that he thought it was ‘crazy’ that certain tax loopholes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary. Alright. You know who this guy was? It wasn’t a Democrat. It wasn’t some crazy socialist. It was Ronald Reagan. It was Ronald Reagan. Last time I checked, Republicans all thought Reagan made some sense. So next time you hear one of those Republicans in Congress accusing you of class warfare, you just tell them I’m with Ronald Reagan. I agree with Ronald Reagan that it’s crazy that a bus driver pays a higher tax rate than some millionaire because of a loophole in the tax code. And by the way, I don’t mind being called a warrior for the working class. You guys need someone working for you.
Watch it:
Update:
On Fox News today, supply-side guru and former Reagan adviser Art Laffer accused us of being “deceitful and dissembling” for directly quoting Reagan. “It really irritates me enormously,” Laffer said, before bragging that the Reagan tax plan raised taxes on low-income Americans. Watch it: