I know it's hard for Republicans to admit their failures. Reagan made big tax cuts, too. Reagan raised taxes in subsequent years, because the growth expected never came about. Republicans just love their 'trickle down economics'. It gets them huge contributions from their corporate donors. Even the Congressional Republicans have admitted, this tax break is their way of 'cashing out'. Their exact words. "CASHING OUT". Let that sink in, for a minute.
Sink your gums into this, It got Reagan two terms, and so will Trump.
See how that rolls around on your gums, good huh...??
Per Obama's OMB, in constant 2005, dollars, the Reagan tax revenue increased $2.94 trillion more, than the previous 8 years.
Yes, Reagan did raise some taxes, revenue taken was not large by government standards.
"Let's start by noting that if you recall Reagan as tax cutter, your memory is good. Reagan campaigned in 1980 on reducing taxes. During his administration, the top income tax rate decreased from 70 percent in 1981 to 28 percent in 1986. But to combat a rising deficit and debt burden, Reagan also approved increased taxes. In 1982, The Tax Equity and Fiscal Responsibility Act raised taxes by $37.5 billion per year, and the Highway Revenue Act raised the gasoline tax by $3.3 billion. In 1983, Reagan signed off on legislation to raise payroll taxes and tax Social Security benefits for some higher earners. In 1984, the Deficit Reduction Act included increases in taxes on estates and distilled spirits and ended some business tax breaks, to the tune of $18 billion per year. In 1985, Reagan signed legislation making permanent a 16-cent federal excise tax on a pack of cigarettes, then worth about $2.4 billion a year. In 1986, the Tax Reform Act lowered the top income tax bracket from 50 percent to 28 percent. To pay for the reductions, however, the legislation closed a number of tax loopholes. In 1987, Reagan signed the Omnibus Budget Reconciliation Act that extended the telephone excise tax and eliminated a real estate tax deduction loophole."