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January 2, 2012

Cantor refuses to admit Reagan raised taxes.

Reagan, a man of principles, compromised—often.

One of the most powerful men in politics, Eric Cantor, “knows” that his idol never raised taxes. His idol, Ronald Reagan, raised taxes 12 times.

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“This is politics, Reagan is not the GOP’s idol… the Reagan they’ve created is their idol. It’s not surprising.”

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“Who controls the past controls the future. Who controls the present controls the past.” ~ Orwell

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You can’t change the world

You can change the facts

You change points of view

When you change points of view

You can change a vote

When you change a vote

You can change the world

~ Depeche Mode, New Dress

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The whole interview is worth watching, but the key moment begins at 1030:

http://www.youtube.com/watch?v=uH9k_0wuhcc

Lesley Stahl profiles House Majority Leader Eric Cantor about his life and the recent bipartisan wars in Congress.

…“Compromising principles, you don’t want to ask anybody to do that. That’s who they are as their core being.”

Stahl then mentioned to Cantor how his “idol” Reagan compromised his principles by raising taxes during his presidency. Cantor tried to deflect the focus by mentioning that Reagan cut taxes, but Stahl reiterated her point.

Upset at the reporter, Cantor’s press secretary yelled off camera, “That’s not true, and I don’t want to let that stand.”

No matter if Cantor, his staff or conservatives at-large want to deny that Reagan raised taxes, what Stahl said is completely true.

After his huge tax cut in 1981 slashed all tax rates to 23 percent, sparking a budget crisis, Reagan realized he’d also have to raise taxes in the years that followed. He raised taxes four times between 1982 to 1984, increasing the payroll tax, broadening the base of Social Security payees, applying the income tax to higher earners and rolling back corporate and individual tax breaks.

Reagan’s historic tax cuts for the wealthiest Americans, whose rate went from 70 percent to 28 percent during his administration, ultimately forced the president to raise taxes on more people than any other U.S. president during a time of peace, according to New York Times columnist Paul Krugman.

In total, Reagan raised taxes 12 times during his two terms in office.

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