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Recession, Taxes and Social Security ? 15th Press Conference (Excerpts) Ronald Reagan 1983 * PITD
Recession, Taxes and Social Security ? 15th Press Conference #RonaldReagan 1983 * #PITD
January 5, 1983 Excerpt of Recession, Taxes and Social Security
I know many of you have questions on the budget and related matters. And since I'm in the midst of making the final decisions, I'd like to address most of those questions when I present the State of the Union and the budget later this month. But let me make a few points now that might anticipate some questions.
Clearly we're facing very big deficits unless we take action, and we will take action, because the deficits are unacceptably large in the out years. The #FederalBudget must not become a roadblock on the path to long-term economic recovery.
I'm consulting now with a wide variety of people, and I look forward to working with Congress this year on the issues. The choices we face, as a people, are difficult. But in the long run, I believe the budget should have three fundamental objectives. It must meet our basic human and defense needs. It must treat the people fairly. It must move toward balance, helping lower the interest rates and providing a basis for sustained economic growth. I am confident that working together we can meet these goals.
**
Well, the one tax that I know many of you have portrayed as in keeping with my saying it would take a palace coup, when I said that, the gasoline tax was being proposed as just a part of general revenues. But for more than a year -- it was a year ago that Secretary Drew Lewis presented the plan and the necessity for rebuilding our roads and our highways and our bridges, because we're faced with the possibility of tragedy in some instances. And I asked him more than a year ago if he would wait a year and bring that back again, and he did. And the proposal was, as we called it, a ``users fee'' to differentiate between, but this is not a tax for general revenues. This is a tax to do this particular task, which will now very shortly come under the direction of Elizabeth Dole.

With regard to taxes now, I think it's a common rule and an accepted fact that increasing taxes is not the way out of a recession. The tax cuts that we put into place were supposed to, and have, helped stimulate savings. With the additional cut that is coming up in July, we believe that this can also increase consumption. And we must realize that these deficits, more than half of the deficit is due to the recession, to the fact that people are not working and paying and that instead are, indeed, being a cost item to the Government because of the need to help them in their time of unemployment.

The other part of the deficit that must be met by those of us here in government and solved -- and has been there for a long, long time -- is structural. It is built-in increase that requires no further legislation, over which no one government has any control, unless they go back and change the basic legislation, that just has in what are called the entitlement programs an increase that automatically takes place. And this is the line on the chart that is going up at the steepest pitch of any spending of government. And this -- we must meet both of these problems.

But the real answer to the deficit is recovery of the economy, and therefore whatever we do, we must not be tempted into some temporary treatment of a deficit before us. We want them reduced, but what we must do is get the economy restored on a long-time, permanent basis, and everything we do must be directed toward that.
Q. Well, will that include higher taxes this coming year?
I just said that a tax is the wrong thing to do when you're trying to come out of a recession.
Full Transcript:
https://www.reaganlibrary.gov/archives/speech/presidents-news-conference-15

If you have any suggestions, questions or concerns please leave them below. Thanks for watching and make it an outstanding day! *** I am a proud American, blessed father, a staunch 2A activist and a Marine Corps Veteran that just happens to be 100% blind. This is a look at the Second Amendment, firearms, self Defense, Constitutionally protected rights, Liberty and Freedom from the perspective of a Visually Impaired, Blind American.
#PatriotInTheDark
PatriotInTheDark@gmail.com
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Reagan Presidential Library:
www.reaganlibrary.gov
President Reagan's Foundation:
http://www.reaganfoundation.org
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