Bachmann calls for Reagan-like tax cuts

Reuters News
Posted: Oct 13, 2011 11:18 PM
Bachmann calls for Reagan-like tax cuts

DENISON, Iowa (Reuters) - Republican presidential candidate Michele Bachmann, who is touting her work as a "federal tax lawyer" as a qualification for the presidency, on Thursday called for the kind of tax cuts that were enacted during the Reagan era.

"The economy worked. We had an economic miracle in the 1980s under Ronald Reagan and I want to bring those positive solutions into the tax code and get rid of the current mess that we have and put in a living laboratory of what worked in the 1980s," Bachmann said in a speech in Denison, Iowa.

In 1981, President Ronald Reagan approved a tax package that cut individual income tax rates by 23 percent across the board.

In 1986, Reagan approved another round of income tax cuts. He also approved legislation which closed so-called tax "loopholes."

Bachmann, now in her third term as a Minnesota congresswoman, was a lawyer for the Internal Revenue Service from 1988 to 1993, handling tax collection cases. She has said the work showed her how devastating high tax rates can be.

"The big problem, when I talk to farmers and when I talk to business people around Iowa, they tell me one thing: 'Could you please, Michele, do something about getting the federal government off our back? We're tired of the federal government,'" Bachmann said.

(Reporting by Kay Henderson. Editing by Peter Bohan)