In 1981, an overzealous administration and an accommodating Congress passed a sweeping tax cut that exploded deficits without growing the economy. Within a few short years, Congress realized its mistake and in 1986 passed one of the most pro-growth reforms since the inception of the income tax in 1913. Here’s to history repeating itself.

Of course, that’s not exactly what happened, but it certainly sounds good. :-)

(Us greyhairs who were actually taxpayers in the 80’s, and remember the precise debates over and contents of the Reagan tax packages are the bane of revisionists everywhere.)

Data Driven Econophile. Muslim, USA born. Been “woke” 2x: 1st, when I realized the world isn’t fair; 2nd, when I realized the “woke” people are full of shit.

Data Driven Econophile. Muslim, USA born. Been “woke” 2x: 1st, when I realized the world isn’t fair; 2nd, when I realized the “woke” people are full of shit.