The ghost of Ronald Reagan haunting President Obama
Talking Points 7/9
- Duration 6:18
- Date Jul 9, 2012
Talking Points 7/9
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-- -- Bill O'Reilly thanks for watching us tonight the ghost of Ronald Reagan hunting President Obama that is the subject of this evening's talking points memo.
-- -- -- -- up a new front in his battle against Mitt Romney today by going back to the tax the rich Vontrell.
The president trying to -- Romney into defending wealthy Americans by opposing tax increases on that.
So say hello once again to our little friend class warfare.
But here's an interesting sidebar.
The ghost of Ronald Reagan may be haunting personal bomb.
32 years ago America was also and that economic -- the incumbent president Jimmy Carter had expanded the federal government lost control the private sector.
Unemployment and inflation were very big problems the challenger Ronald Reagan took full advantage of that portraying -- is incompetent.
And of course Reagan won the election and January 20 1981.
Ronald Reagan said this in his inaugural address.
Those who do work.
Friday -- a fair return for their labor by -- tax system.
Which penalizes success but achievement.
And keeps us from maintaining full productivity.
But great as our tax burden and it's.
It has not kept pace with public spending.
Reagan kept his promise in that address dropping the federal income tax rate for the highest earners from seven.
Reagan went on to say that a large federal government was a problem.
Not a solution.
It is no coincidence.
That our present troubles parallels.
And our proportionate.
The intervention and intrusion and I have is that result from unnecessary and excessive growth of government.
Reagan kept the federal government mostly in check during his eight years in office adding about 121000.
Workers in that time.
Jimmy Carter and it almost 100000.
Federal jobs in just four years.
Obama's first three years in office the feds -- it.
About a 130000.
Employees more than ten times would Reagan added an eight years.
So you can say the mr.
Obama's philosophy is the exact opposite.
But history shows President Reagan was successful in reviving the American economy so that's why mr.
Obama's policies are a bit perplexing.
In June just 80000 jobs are created in the USA according to the Bureau of Labor Statistics.
Left the marketplace.
In order to get disability.
Since June of 2009.
There have been two point six million jobs created in America.
But three point one million people have gone on disability.
The math is clear American workers -- leaving their jobs to get paid.
By the taxpayers.
A disability payments are at a record rate that's a disaster for America.
Obama continues to believe that he can tax is way out of the situation that raising taxes on the wealthy will somehow stimulate the economy.
But listen to -- Safe President Obama gets his way and he's able to raise taxes on those making more than 250000.
Dollars a year saying that happens.
That rate hike.
Would generate about 85 billion dollars a year -- increased revenue.
But right now.
Defends -- spending 85 billion dollars every eight and a -- detainees.
According to the church street apartment so it's all a ruse.
This whole tax the -- deal means little.
In bringing down the deficit or -- -- positive.
Look at this tax chart put together by the ISI -- which invest money for institutions.
It shows -- Obama wants to raising income tax rate the wealthiest Americans to 39 point 6%.
Governor Romney wants agreed to drop to 28%.
Like Ronald Reagan.
Obama would tax dividends stuff you get French shavings at 43 point 4% in the top bracket.
Governor Romney would tax them at 15%.
-- Obama would double to cap gains tax rate to 30% for every body.
Romney would keep it at 15%.
Now if you double capped gains that would prevent media private investor from aggressively putting any money in a market.
The -- reward is simply too great and I'm sure I'm not alone in that thinking.
So let me ask you.
If Ronald Reagan was successful in reviving the American economy by dropping the tax rates for everybody why would anyone think.
President Obama can revive the economy by doing the exact opposite by raising rates for investors and the -- -- make any sense but still the president is betting big on that vision here's what he said again today.
I'm calling on congress to extend the tax cuts for the 98%.
Who make less than 250000.
Dollars for another year.
Congress of course not good at.
And if the Republicans win in November federal tax rates will fall ironically a few years ago mr.
Obama was saying the exact opposite.
Of what he said today.
The last thing you want to do is to raise taxes in the middle of recession.
Because that would just suck up.
Take more demand the economy and put businesses.
In a further hole that's right.
Talk -- -- would support federal tax hikes on the wealthy.
If I thought they would help the folks but there's absolutely no evidence more revenue the government would do anything other than allowing President Obama.
To hired -- more federal workers.
The president is not behind cutting spending he's not stimulating the private sector and he doesn't seem to be worried about America's massive -- But the ghost of Ronald Reagan must be worried because this is 1980.
All over again.
That's -- Next on --