THE HLL: … Last week marked the 10th anniversary of the passage of the Bush tax cuts for the wealthiest Americans. Since those tax cuts were enacted in 2001, they have cost the U.S. government more than $2.5 trillion in lost revenue. Almost half of that revenue — $1 trillion — went to households making more than $380,000 per year.
If raising the tax rate on the richest Americans is the work of a socialist, what are we to make of the Republican icon, former President Ronald Reagan? At the end of Reagan’s first term, the rate was at 50 percent. Under Richard Nixon’s administration, it was at 70 percent. And under Dwight Eisenhower, it was a staggering 91 percent.
Imagine if any of those three Republicans was trying to win today’s GOP primary. They’d be written off by the Tea Party types as liberals, traitors to the party and worse… (more)
