Yesterday President Obama tried to sell the “Buffett Rule” under a new moniker:

What Ronald Reagan was calling for then is the same thing that we’re calling for now: a return to basic fairness and responsibility; everybody doing their part. And if it will help convince folks in Congress to make the right choice, we could call it the Reagan Rule instead of the Buffett Rule.

Securing Ronald Reagan’s economic blessing is a new trend among liberals. And no wonder: Ronald Reagan is one of the most popular presidents in modern times.

But what did Reagan really say about the tax rates of the millionaire and the bus driver? Reagan proposed: “We’re going to close the unproductive tax loopholes that have allowed some of the truly wealthy to avoid paying their fair share, the loopholes” that “sometimes make it possible for millionaires to pay nothing.”

Reagan closed tax loopholes; President Obama wants to raise taxes.

Continue reading on blog.heritage.org

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