Oldestyle
Diamond Member
Tax revenues as I recall were almost exactly the same as when Carter was in office. As I said before...Reagan essentially revamped the tax code.Do you know that Reagan passed that tax increase on the wealthy by closing loopholes and limiting deductions? It wasn't so much that Reagan increased taxes...what he did was make it harder for the wealthy to avoid paying taxes! That was after dropping the top rate from 70% to 28%! So basically, Reagan revamped the tax code. He gave the wealthy an incentive to invest while at the same time making it harder for them to get out of paying taxes.you don't know that St Ronnie passed the largest peace time tax increase in history do you?Reaganomics was right from the very beginning. Tax cuts have a beneficial effect on working people every time they are used. The same people who came up with 'trickle down economy' are the ones who say milk and math are racist. The media is arguing that the government squandering hard earned money is a great thing. The biggest lie is that tax cuts don't work, the second biggest lie is that only the rich benefit from them. More layers of government and less individual choices is very hard to defend. Again, huge government programs are possible, but most are just as atrocious as the ACA. Not only is it reasonable for conservatives to question how tax money is spent, but the exodus from poorly run blue states accentuates this point.
the result was in increase in tax revenues that off set any tax cuts. He broadened the base.
REagan actually raised capital gains taxes
FLASHBACK: Reagan Raised Capital Gains Taxes To The Same Level As Wage Taxes For First Time
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