Reagan raisd taxes 11 times to cover his 4 fold increase in the military and to pay for his tax cuts.
His tax cuts for the rich, you mean. Under Ronald Blithering Reagan the top tax rate declined from 70 to 28 percent.
Historical Top Tax Rate
Real after tax income for 80 percent of the country declined.
The Vampire Economy | DNDN Message Board Posts
As usual, your post is totally false.
See chapter 12 of "To Save America," Gingrich.
1. Even with Reagan’s defense build-up,
total federal spending declined from a high of 23.5% of GDP in 1983, to 21.3% in 1988, and 21.2% in 1989. That is a real 10% reduction in the size of government relative to the economy. (p. 159)
2. Reagan’s first executive order
eliminated price controls on oil and natural gas. Production soared, and the
price of oil declined by more than 50%. That as a remarkable contrast to President Carter’s gasoline rationing….From scarcity of gasoline to abundance in six months- this was one of Reagan’s first evident accomplishments. (p. 159)
3. The
Reagan Recovery began in November 1982, and lasted 92 months without a recession, until July 1990, when the tax increase of the 1990 budget deal ended the streak. This was the longest peacetime expansion ever- the previous being 58 months.
a. During these 7 years, the economy grew by almost one third, the equivalent of adding the entire economy of West Germany…which was the third largest world economy at the time. In 1984 alone, real economic growth shot up
6.8%, the highest in 50 yeas, with nearly 20 million new jobs created. Unemployment fell to 5.3%, about half of what it had been at the peak of the Carter Recession.
b.
Real per capita disposable income increased 18% from 1982 to 1989.
c. The poverty rate, which had been on the rise during the Carter years, declined every year from 1984 to 1989, dropping by 1/6 from its peak.
d.
Inflation was reduced by more than half between 1980 and 1982, to 6.2%, and cut in half again for 1983, to 3.2%.
e. The
prime rate was cut by 2/3 by 1987, to 8.2%, and down to 6.25% by 1992.
f. New home mortgage rates declined steadily, reaching 9.19% by 1988, and down to 8% by 1992. (p. 160)
4. Even with the Reagan tax cuts, total
federal revenues doubled from 1980 to 1990, from $517.1 billion to over $1 trillion. (p.161)
You are truly a compendium of fatuity.