Reaganomics Vs. Obamanomics: Fallacies Offered By The Left - 1 views
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From watching and participating in debates over the years regarding Reaganomics, patterns of logical fallacies and factual errors repeatedly arise among critics on the Left. As the troublesome facts demonstrating the failures of Obamanomics accumulate, we find that almost religiously minded supporters of President Barack Obama can't deal with those facts, and exhibit analogous logical fallacies.
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Some critics falsely argue that Reagan increased payroll taxes which are paid much more by lower and moderate income workers. The payroll tax rate increases of the 1980s were adopted under President Carter and the Democratic Congress in 1977. The Greenspan Commission Social Security rescue plan adopted in 1983 only advanced a couple of these already scheduled payroll tax rate increases by a year or two. But the ultimate plan for payroll taxes is to phase them out entirely in favor of lower cost personal accounts to finance the benefits currently financed by those taxes, as discussed in previous columns in this space.