Exactly!
Tax cuts more than pay for themselves.
Reagan had a top rate of 28%. When Reagan took office, the IRS was taking in $500 billion a year. When he left office eight years later, the IRS was taking in $950 billion a year.
The deficits were caused by increased government spending by the democrat controlled House....the dems controlled the House during the entire eight years of Reagan....and the fact that we had to rebuild our military, which suffered under Carter and previous administrations. Peace through strength.
Libs always say, “how are we going to pay for it?” when it comes to tax cuts, but they NEVER ask “how are we going to pay for it?” when it comes to a new or expanded government program.
Tax cuts, under certain extreme conditions can increase the revenue the government takes in, but that is not true at all marginal tax rates. The Laffer Curve shows that the rates have to be quite high for that effect to appear. The recent experience of reductions in tax rates is that they have led to reductions in revenue to the government. You may not care about that, but to say that the Laffer Curve is not a curve, but just a downward sloping line is not smart.
Also, the top marginal tax rate of 28% was only in Reagan’s last year in office, and it came thanks to Bill Bradley’s efforts in the Senate. Also should be noted that Trump screamed bloody murder in horror about that tax act.
Excellent reply to libs about reagans tax cuts and dems malfeasance