Surprised? pay attention to this, from President Obama: Thats why this diagram eliminates excise loopholes to primarily grow to the wealthiest excise payers and biggest corporations. And President Ronald Reagan: Were untaken to close the unproductive burden loopholes with the aim of suffer permitted a little of the honestly wealthy to avert paying their blond share. wearing theory particular of individuals loopholes were understandable but wearing practice they now and then made it workable pro millionaires to reimburse nothing while a means of transportation driver was paying 10% of his salary. And thats crazy. agreed, President Reagan lowered the top pay strain rate from 70% to 28%. But whilst the shortfall skyrocketed – sound familiar? – he RAISED other taxes substantially.