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Obama: Ronald Reagan Would Have Supported "Buffett Rule"

President Obama at a fundraiser in Dallas, Texas on Tuesday: "Now, this notion that folks are inherently selfish, that’s just not true. But you’ve got to ask them, right? People don’t voluntarily pay taxes. But if you ask, most wealthy folks here in Dallas or around the country, they’ll tell you, you know what, I want to make sure that I’m doing my share for America to succeed. But somebody has got to ask.

"Now, some Republicans in Congress, they’re already dusting off the old -- their old records. “That’s class warfare.” Let me tell you something, 26 years ago -- some of you may have seen this on television, clips have been circulating -- 26 years ago, another President said that some of these tax loopholes, and I quote, “made it possible for millionaires to pay nothing while a bus driver was paying 10 percent of his salary, and that’s crazy. It’s time we stopped it.” That was 26 years ago. You know the name of that President? Ronald Reagan.

"So was that class warfare? By the way, taxes are much lower now than they ever were when Ronald Reagan was President. I know a lot of folks have short memories, but I don’t remember Republicans accusing Ronald Reagan of being a socialist -- (laughter) -- or engaging in class warfare, because he thought that everybody should do their fair share."

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