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Old 02-13-2018, 08:14 AM
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whell whell is offline
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Quote:
Originally Posted by finnbow View Post
Read and learn, Grasshopper.

The Economic Recovery Act of 1981, also known as the Reagan tax cuts, was the biggest reduction in U.S. taxes of the past 70 years, possibly even the biggest ever. That much is reasonably well-known.

What is less well-known is that these cuts were then followed by a series of tax increases that, if you add them all together, were almost as big as or even bigger than the 1981 cuts, depending on the measure you use.

https://www.bloomberg.com/view/artic...s-of-1982-1993
You do realize that you're mixing apples and oranges here, don't you? I'm talking about income tax rates on earnings. The the Tax Reform Act of 1986 changes actually did some things that liberals wanted, such as closing come loopholes favored by "the rich". That's why it was a tax law sponsored by Dems. What the TRA really was, IMHO, was a deal with the devil. Reagan wanted further tax law simplification and made a bipartisan deal with the Dems to get it. In typical lefty fashion, that law is now used like an albatross to hang around Reagan's neck.

Quote:
Originally Posted by finnbow View Post
The bottom line is that supply-side economics has never once delivered what conservatives have promised - that tax cuts pay for themselves and that tax cuts for the wealthy equally benefit the poor.
Except that no one is saying that. There you go, arguing with yourself again.
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