Why Not Repeat Reagan’s Tax Cuts? (FREE)
Why doesn’t the Trump Administration just repeat Ronald Reagan’s 1981 tax cuts? The Gipper proposed a 33% tax cut on practically all taxes. He negotiated with Tip O’Neill, the Democratic speaker of the House of Representatives, and settled for 29%. The top rate dropped to 50% from 70% of income, with lower incomes given similar cuts. Reagan made one mistake: Most of the tax cuts were delayed until 1983, supposedly to grab more from taxpayers for a year to “pay” for the tax cuts. But all that did was delay economic investment for a year, as companies and persons waited...



