Quote:
Originally Posted by 732002
Didn't Reagan campaign for balanced budgets, reduced spending and the voodo
economics of lower taxes stimulating the economy and this would reduce the deficit. How did that work out for us?
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Regan did campaign for balanced budgets and reduced spending, he didn't deliver on either promise.
He did lower taxes and it did stimulate the economy, tax revenues increased dramatically during the 80's - but predictably when politicians see a new dollar in revenue they think think they have the green light for two dollars of new spending and deficits did increase quite a bit in the 80's.
It is not a correct to infer that lowering taxes automatically increases the deficit or reduces the amount of taxes collected.
02-11-2010, 10:16 AM
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