VIDEO: President Obama speaks on The Reagan Rule, Bush Tax Cuts

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Yesterday, I posted a video in which George W. Bush lamented, “I wish they weren’t called the ‘Bush tax cuts’.” Yeah, it sucks to be you, GW.

Then, President Obama came up with a very useful,memorable, and apt replacement for "The Buffett Rule":

"Let me just close by saying this.  I’m not the first President to call for this idea that everybody has got to do their fair share.  Some years ago, one of my predecessors traveled across the country pushing for the same concept.  He gave a speech where he talked about a letter he had received from a wealthy executive who paid lower tax rates than his secretary, and wanted to come to Washington and tell Congress why that was wrong.  So this President gave another speech where he said it was “crazy” -- that's a quote -- that certain tax loopholes make it possible for multimillionaires to pay nothing, while a bus driver was paying 10 percent of his salary.  That wild-eyed, socialist, tax-hiking class warrior was Ronald Reagan.

He thought that, in America, the wealthiest should pay their fair share, and he said so.  I know that position might disqualify him from the Republican primaries these days -- (laughter) -- but 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."

Between trying to eradicate the Bush tax cut stain, and rebranding the Buffett Rule as the Reagan Rule, President Obama is putting the GOP on the defensive by turning the tables and doing a little reframing while he's at it.

He has the facts on his side. The GOP has nothing but the myth of St. Ronnie and a former president who shamed them by creating a financial crisis and starting fraudulent wars.

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  • http://pulse.yahoo.com/_DW7LHDQQLRH5RQG2AGEXP35QGM Mr. B

    " So this President gave another speech where he said it was 'crazy' —
    that’s a quote — that certain tax loopholes make it possible for
    multimillionaires to pay nothing, while a bus driver was paying 10
    percent of his salary.  That wild-eyed, socialist, tax-hiking class warrior was Ronald Reagan."

    Rightwingnut head explosion in:   5 . . . 4 . . . 3 . . . 2 . . .

  • http://www.blondetwit.com/ Blondetwit

    Oh yeah!  I'm soooooo glad he used that.  I hope he keeps using it like a broken record.  There are so many other things like this - he needs to keep his arguments to just things like that.  It's all they would ever understand.  Besides, it'll be great fun to watch them try to defend it all:)

  • sandinbrick

    I love it. I know President Obama is a centrist. Why the Liberals thought they owned him is beyond me. A president should work for all the people, even the one that didn't vote for him. But this sure is the most hated President, and look at GWB, sigh.