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To: vbmoneyspender
Read what Moore wrote: it changed the BRACKETS to 15% and 28%, from Reagan's 25%. But both Reagan and the Dems thought at the time it was a tax increase---that is why they passed it. Again, read Reagan's OWN BOOK on how he viewed it at the time. We know from experience, though, that it raised the rate on MOST PEOPLE back from 25 to 28%!
79 posted on 03/29/2002 4:28:03 PM PST by LS
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To: LS
Just to repeat, here is what Moore testified to under oath:

In 1986 Congress passed and President Reagan signed a landmark and heroic piece of legislation: the 1986 Tax Reform Act. The 1986 TRA closed economically inefficient tax loopholes and dramatically reduced income tax rates for all Americans.

Now with regard to what the 1986 TRA was supposed to accomplish, wasn't it supposed to be revenue neutral with business taxes being increased in return for "dramatically reduc[ing] income tax rates for all Americans."

89 posted on 03/29/2002 4:36:18 PM PST by vbmoneyspender
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