The historical myth that Reagan raised $1 of taxes in exchange for $3 of spending cuts
It had become an article of faith by conservatives that President Reagan reluctantly agreed to raise taxes in his first term in office — and that Congress then failed to follow through on promised spending cuts.
But when we actually examined the historical record, it turned out this was a fairy tale. There was never any such agreement — though Reagan convinced himself there was, based on a misunderstanding.
In the end, Congress actually held up its end of the bargain pretty well — and the failure to make certain cuts was the fault of the Reagan administration itself. (In particularly, Defense Secretary Caspar Weinberger simply refused to comply with the agreement.)
Anyone who utters this claim gets an instant Four Pinocchio's!
The historical myth that Reagan raised $1 of taxes in exchange for $3 of spending cuts
IN CASE, AS USUAL, YOU MISS THE FIRST TWO TIMES BUBBA, lol