Posted at 04:51 PM ET, 10/03/2011

Is Obama’s tax plan really Reagan’s tax plan? (Video)

Did Ronald Reagan come up with President Obama’s tax plan first? (AP Photo/White House)
President Obama may have a surprising ally in his fight to increase taxes on the wealthy: President Ronald Reagan.

Obama’s proposal to boost taxes for the wealthy by $1.5 trillion seems to be an echo of a plan put forth by Reagan in a June 6, 1985, speech at Northside High School in Atlanta.

A mash-up of Obama and Reagan speeches put together by has the two presidents expounding on similar plans: increase taxes for the rich. The main difference is that instead of Warren Buffett’s secretary, Reagan holds up a bus driver as an emblem of someone who should not be paying as much as millionaires.

By  |  04:51 PM ET, 10/03/2011

Tags:  Politics, Obama, Reagan, Tax Plan, Warren Buffett's secretary, Ronald Reagan's bus driver

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