Originally Posted by BBII
Only problem with your theory is that federal revenue exploded during Reagans term. The government just grew even faster.
No it didn't, it actually fell off a cliff from the previous 8 years.
Between 1981 (the last year of the Carter budgets and 1989 (the last year of Reagan budget), tax receipts grew at an average annual increase of 6.5%
Now compare that to the previous 8 years which includes a recession:
Hell, even if you only take Carter's 4 years (and the poor economy/recession that dominated that time), it actually makes Reagan look even worse, with and average of 14%/year increase.
The idea that Reagan increased tax revenue by cutting taxes is pure myth
that basic math destroys
The thing propping up Reagan (and Carter)? The Baby Boomers coming into their prime. A big bump in demand and work force. Without it, Reaganomics likely would have resulted in a net loss of tax revenue, just like happened under Bush II.