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Originally Posted by loquitur
Will, I remember that when taxes were cut in '81 it ended a recession and was the beginning of a long, extended wave of prosperity that we are still in now.
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You're referring to the Reagan Recession (caused by the oil and energy crisis of the 70s coupled with some of the worst decisions to come out of the Fed), yes? The one where, in response to outraged citizens, President Reagan was forced to raise corporate taxes?
http://en.wikipedia.org/wiki/Tax_Equ...ty_Act_of_1982
Reagan raised taxes (to the tune of $100,000,000,000), like some sort of
Democrat, in order to get the horrible and sudden recession under control.