Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

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Archive for February 9th, 2001

Posted by taxguru on February 9, 2001

The Big Lie

Opponents of the concept of reducing taxes are perfectly entitled to their opinion that our rulers in D.C. know better how to spend our money than we mere peons do.

However, they have very little credibility when their main argument relies on the outright lie that the Reagan tax rate cuts of 1981 caused the growth in the deficit.

The truth is that revenues to the Federal government more than doubled after the top rate was reduced from 70% to 28% because people were able to keep more of their own money and had more incentive to earn more taxable income.

The deficits of the 1980s were completely caused by out of control spending by the Democrat controlled Congress.

Anyone who tells you that the Reagan tax cuts caused the deficit is not to be trusted. That person is either a liar or an idiot, neither of which is somebody you want to rely on.

KMK

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