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.)

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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.

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