Ronald Reagan on Closing Tax Loopholes

Ronald Reagan also spoke out about tax loopholes for the rich, saying that in theory such loopholes might sound great, but in practice it was unacceptable for a millionaire to pay fewer taxes than a bus driver. In today's debate, so often the closing of loopholes is advertised as a tax increase. However, what it is not is a tax rate increase. It is a closing of loopholes, and in this video we can see that Ronald Reagan and Barrack Obama would have agreed in this matter.