Meet the Press- Brokaw nails McCain on taxing the wealthy, Reagan's record

SEN. McCAIN: The last time a president of the United States that did that was a guy named Herbert Hoover, protectionism and raising taxes.

MR. BROKAW: Well, Ronald Reagan raised taxes as well, after the first two years in office.

SEN. McCAIN: Not in these times. Not in times--not in economic times like these.

MR. BROKAW: Well, right after the recession he did, in the first two years of his office.

SEN. McCAIN: Well, look, I would be glad to review the Reagan record, but the Reagan record was certainly one that reined in spending.

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