Reagan's tax cut produced $2 trillion more in revenue than the previous administration. Bush's tax cut produced $4.4 trillion more. Both numbers are normalized for inflation. Its spending that's the problem.
Who spent it? Why did unemployment go up each time? Why was construction killed under each? If tax cuts cause government income to go up, why not cancel tax?
JT, each time you ask the same question? Is your memory suffering as well?
Who spent it?
Congress (both parties appropriated the money) and Reagan approved it. The Democrats promised Reagan $3 in budgets cuts for every dollar of tax increase. Reagan is still waiting. Who knew the Communist Party would prove more trustworthy than the Democrat party?
Why did unemployment go up each time?
It didn’t!
http://data.bls.gov/timeseries...;periods=Annual+Data
Why was construction killed under each?
Once more, that was a local cut to this area. Nationally, construction was doing well.
If tax cuts cause government income to go up, why not cancel tax?
The ancient Greeks dealt with silly questions like that by embarrassing their students by calling them sophists. Democrats believe that doubling the tax rate will double the revenue. Even during the Medieval era, economists knew that to be untrue. That’s why the English king had the Doomsday book compiled – so he knew the limits he could tax his subjects without them rebelling. The Chicago and Austrian schools of economics believe that somewhere between 25 and 30 percent, revenue decreases.