How many times did Obama extend those evil Bush Tax cuts again?
Tax revenues increased and the deficit started shrinking when they expired hahaha
Funny. Reagan isnât President. And Lord Trump is running a $1trillion deficit in his 2nd year and at FULL employment lol
The deficit only began shrinking when the sequester was imposed.
We were discussing history, try and keep up.
No. We were discussing Trump and you started waxing about Reagan to deflect from the reality of ânowâ
Lol 10 chars
This is a totally pathetic attempt at analysis. Who is this guy? Did you really just copy paste the first google result?
Anyway, my criticism stands. If you want to address it thatâs up to you because you havenât at this point.
One more time. Eventually, revenues always go up. Saying that revenues went up âeventuallyâ after a tax cut is meaningless.
And it nearly doubled as soon as Lord Trump got into office 
Your criticisms donât stand up to a slight breeze.
Net effects of Reagan tax policies.
Reaganomics and Tax Cuts
In 1981, Congress cut the top tax rate from 70 percent to 50 percent. It helped spur growth in gross domestic product for the next several years. The economy grew 4.6 percent in 1983, 7.3 percent in 1984, and 4.2 percent in 1985.Economic growth reduced unemployment for the next several years. In December 1981, it was 8.5 percent. The minimum wage was $3.35 an hour. In 1982, Congress passed the Job Training Partnership Act. It established job training programs for low-income people. The unemployment rate rose to 10.8 percent by December 1982.
It fell to 8.3 percent in 1983, 7.3 percent in 1984, and 7 percent by December 1985. Reagan cut the tax rate again, to 38.5 percent, in 1986.
Growth was a healthy 3.5 percent by the end of 1986, but the unemployment rate was 6.6 percent. It was still higher than the natural rate of unemployment. Reagan cut taxes again to 28 percent. Growth bounced up to 4.2 percent in 1987 and unemployment fell to 5.7 percent. Growth leveled out at 3.7 percent in 1988 and unemployment fell to 5.3 percent.
Reaganâs economic policies are called Reaganomics. Reagan based his policies on the theory of supply side economics. It says tax cuts encourage economic expansion enough to broaden the tax base over time. The increased revenue from a stronger economy is supposed to offset the initial revenue loss from the tax cuts.
But according to the Laffer Curve, this only works if the initial tax rates are high enough. High taxes fall in the curveâs âProhibitive Range.â Reaganâs first tax cuts worked because tax rates were so high. The 1986 and 1987 tax cuts werenât as effective, because tax rates were already reasonable.
Also, Reagan offset these tax cuts with tax increases elsewhere. He raised Social Security payroll taxes and some excise taxes.
He also cut several deductions.
Reagan cut the corporate tax rate from 46 percent to 40 percent. But the effect of this break was unclear. Reagan changed the tax treatment of many new investments. The complexity meant that the overall results of his corporate tax changes couldnât be measured.
It doubled during Obamaâs first year in office, from 500bn to over 1.2 trillion.
Quoted for posterity.
How did you isolate the effects of the tax cuts from everything else that effects the economy?
Youâve yet to actually address my criticism.
Ya and he was dealing with a recession/financial crisis. LmaoâŚTrump poor Trump full employment, stable economy and he doubles the deficit to $1trillion. Why are you defending this drivel?
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Just so you know, you quoted a paper that says the following:
Supply-siders predicted their tax cuts would pay for themselves. This was nonsense from day one, because the credible evidence overwhelmingly indicates that revenue feedbacks from tax cuts is 35 cents per dollar, at most. Are we really gullible enough to accept a free dinner while still suffering the indigestion from our âfreeâ lunch? [23]
This is from a member of Reaganâs council of
Economic advisors.
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The GOP reversed it. The deficit had been going down until trump got in the WH.
Reagan passed the single largest tax hike to date. That effected revenue.
Also, Government spending was off the charts. That helped as well.
Plot the largest tax hike in history to date on that chart. (BTW, it was a primarily regressive hike effecting middle and lower class earners more )
Reagan signed the largest tax hike in history (to date at that time).
He did not just cut taxes. He tased them as well after revenue fell too steeply. this is fact.
He also made sure the largest tax hike in history effected the middle and lower level earners more than those at the top.
