Reply #6: They actually thought that's what they'd do, then it blew up in their piggy faces [View All]

[Warpy]

and ballooned the deficit during the next year and a half, completely the opposite of what that nitwit Laffer and that other nitwit Friedman said would happen but which every reasonable economist knew would happen.

Since Republicans are incapable of ever admitting they've made a mistake on anything, they got their admen busy scaring old folks that the boomers (then in their 30s) were going to bankrupt the system if they didn't DO SOMETHING FAST! Reagan then raised FICA 6 times, socking working people and businesses with a back door tax for which there are no deductions and hid the disaster his tax cuts to plutocrats had been causing.

It merely shifted the burden from the rich to the working class and to labor intensive businesses, meaning small businesses.

THIS is why the tax RATE needs to be rolled back, to undo Reaganomics. In order to fund Social Security payments going out, the ridiculously low CAP has got to be raised, instead.

Does it all make sense now? Obama's reasoning is sound. Republicanism, shifting the tax burdens, has failed miserably and spectacularly. Any of it that is rolled back is a victory.

And yes, if SS taxes are cut in half to where they should have been all along, perhaps the odd business will add a new worker instead of insisting on mandatory overtime from exhausted workers they already have.