Reagan’s economists had a number in mind when they forecast the impact of their tax cuts on the Treasury’s income- they used a dynamic model in their forecast, versus the static prediction of a dollar lost for each dollar cut.
A regression analysis was run by one those economists after the Reagan years to test their prediction and they had been remarkably accurate- they predicted that for every dollar cut 60 something cents would be recouped through economic growth, and that’s what happened. Economic growth was the goal of the Reagan program, not a maximum haul for the Treasury.
People may forget that the Reagan program included $2 in budget cuts for every $1 in tax cuts. But that didn’t happen, because Speaker Tip O’Neill reneged on the deal and this resulted in exploding deficits, something Reagan greatly regretted. Since Democrats controlled the House there wasn’t much Reagan could do about it, other than scrapping his military buildup and he wasn’t going to do that.
Trump has a Republican House and a Republican Speaker. We are looking at an increase in the debt despite whatever growth occurs because Ryan and his worthless GOP stooges are not one iota better than Tip O’Neill and his Democrats. Ryan and the GOPe have no intention of doing what’s best for the country. They answer to their big donors, and to hell with the voters.
The GOP didn't control spending when they had the chance under obama or bush as well. At the end of the day, it's on the GOP. Just as all the debt and spending has been only on the R's and D's. Yet people still elect them.
This idea that we are gonna grow the economy faster than growing .gov has been a losing cause for years. We need cuts to .gov. Now and forever.