Reagan’s tax reform didn’t actually lower the revenue collected by government. It merely changed the math.
For example, there was a graduated tax system. Different rates for different levels on the same return...
http://www.taxhistory.org/thp/1040forms.nsf/WebByYear/1913/$file/1040_1913.pdf
“Reagan’s tax reform didn’t actually lower the revenue collected by government. It merely changed the math”
I think it lowered collections by about one third, the data can be found in Lawrence Lindsey’s ‘The Growth Experiment’.
That one third loss was expected by Reagan’s team and is the reason they asked Tip O’Neil for spending cuts.
There is only one instance in which tax cuts paid for themselves and in fact increased revenue. That is when capital gains rates were cut, and ironically that was a bill signed by Jimmy Carter.