Reagan Labeled A 'Socialist' On Bloomberg Magazine Cover
"Socialism only works in two places: Heaven where they don't need it and hell where they already have it." - President Ronald Reagan
Bloomberg Insider has released one of the most asinine magazine covers and cover stories I've ever seen. Their cover calls President Ronald Reagan a "socialist," agreeing with President Obama's assessment that President Reagan was a "wild-eyed socialist, tax-hiking, class warrior." (Here's my article refuting those remarks, point by point)
The article begins by declaring that "the federal payroll grew by more than 300,000 workers" under Reagan, and notes that "Reagan raised taxes about a dozen times."
The only president in the last 100 years who is arguable more conservative than Ronald Reagan is Calvin Coolidge--who cut taxes from more than 70 percent to 25 percent and slashed government spending.
Questioning President Reagan's conservative credentials is almost comedic.
The Left and the media demonized President Reagan as "radical" and "dangerous" while he was in office. Now, in this article, President Reagan is a "reluctant warrior" with "willingness to compromise"--implying that President Reagan would not fit in today's Conservative Movement.
The Bloomberg article implies that President Reagan was a tax-hiker and believed in wealth redistribution.
Does this guy sound like a socialist to you?
· In President Ronald Reagan's inaugural address he said: "All of us together, in and out of government, must bear the burden. The solutions we seek must be equitable, with no one group singled out to pay a higher price."
· On August 13, 1981, President Reagan signed the biggest tax cut in American history-a 25 percent cut for all Americans.
· By the end of his presidency, the top income tax rate fell from 70 percent to 28 percent.
· In the same speech President Obama and Bloomberg referenced, President Reagan said: "Lower, flatter tax rates will give Americans more confidence in the future…It'll mean if you work overtime or get a raise or a promotion or if you have a small business and are able to turn a profit, more of that extra income will end up where it belongs -- in your wallets, not in Uncle Sam's pockets."
President Reagan cut domestic spending, cut taxes, and destroyed communism (socialism's older brother). Calling President Reagan a socialist is like calling Donald Trump "humble" or calling President Obama a "fiscal conservative"--it's just not true.
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