Video: President Reagan Slammed Low Taxes for the Wealthy, Just as Obama Does

| by Michael Allen

President Obama has been calling for the wealthy to pay "a little more in taxes" to help bring down the federal deficit.

Obama's plan would simply allow the Bush tax cuts to run out and tax the wealthy at the same rate that they were taxed under President Clinton.

In response, Obama has been accused by Republicans of being a "socialist" and a "communist" who "hates capitalism" and is instigating "class warfare" to "punish success" with "job-killing tax hikes."

However, Republicans have not mentioned that President Ronald Reagan raised taxes eleven times and, during a speech in 1985, said that a man who made a six figure income wanted to testify before congress to explain why he thought paying a smaller tax than his secretary was wrong.

Reagan said: "Just a few moments ago, I told some people inside the building here of a letter that I just received the day before yesterday. It's a letter from a man out here in the country, an executive who's earning in six figures -- well above $100,000 a year. He wrote me in support of the tax plan because he said: 'I am legally able to take advantage of the present tax code, nothing dishonest, doing what the law prescribes, and wind up paying a smaller salary than my secretary gets, or I mean, paying a smaller, I'm sorry, paying a smaller tax than my secretary pays.' And he wrote me the letter to tell me he'd like to come to Washington and testify before Congress as to how that's possible for him to do and why it is wrong."