Marco's blog An [almost] daily rant 

Thursday, June 10, 2004

Reagan did not triple the deficit. In this presentation of the The Laffer Curve, we read, "The most controversial portion of Reagan's tax revolution was reducing the highest marginal income tax rate from 70 percent (when he took office in 1981) to 28 percent in 1988. However, Internal Revenue Service data reveal that tax collections from the wealthy, as measured by personal income taxes paid by top percentile earners, increased between 1980 and 1988--despite significantly lower tax rates." UPDATE: Opinion Journal (last item) eventually gets around to reading the same paper.

Comments: Post a Comment