Let's play an old favorite game of mine, who can understand the data:
Historical Source of Revenue As A Share of GDP
Historical Source of Revenue As A Share of GDP
I have this uneasy feeling in the pit of my stomach. I think we are all screwed somehow.
They're not the same. See also: math.
In the studies I have seen, it was only the Kennedy cuts that could reasonably be said to have resulted in moderate revenue increases.
The Reagan tax cuts, were accompanied by massive increases in spending. This resulted in deficits of historic proportions. Tax revenue increases, which were far smaller than had been anticipated, after the Reagan cuts, are attributed by economists today to massive economic stimulus spending and recovery from recession. (Revenues always increase coming out of recession.)
Reagan's huge cold war expenditures had negligible affect on the Soviet economy. He is often falsely given credit for collapse of the Soviet Union which occurred on his watch. As Moynihan pointed out when he was in Ford's cabinet, the Soviet Union was in the process of collapsing entirely on its own, and if we just sat back and did nothing, the Soviet Union would completely collapse in a few years. There was copious data to support Moynihan's view. Moynihan's sharp disagreement on this point with other members of Ford's cabinet eventually led to Moynihan leaving the cabinet.
Because of the horrendous, long-term damage done to the U.S. Economy due to screwball, supply-side, trickle-down economics, and privatizing things that never should have been privatized, it is fair to say that Reagan's administration was the worst in our twentieth Century History. His economic adviser's radical ideas hang on still today in the form of anarcho-capitalism.
Weak.Did you copy that from your application essay to be on MSNBC?
You are giving me way too much credit.Did you copy that from your application essay to be on MSNBC?
LOL. Only democrat tax cuts increase revenues. The massive increases after republican cuts would have happened anyway or were the result of democrat policies? Uhh ok...you think cap gains revenues went up after the rates were cut because of government spending programs?

These must be lefty facts!Let's play an old favorite game of mine, who can understand the data:
Historical Source of Revenue As A Share of GDP
Everyone knows truth has a liberal bias.Do we get to use government stimulus spending, which you have acknowledged does work, to get to "200"?
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