Diogenes
DP Veteran
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- Jul 11, 2005
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And as we also saw from the Reagan administration, taxes can actually be cut too low and then need to be raised again.
During the Reagan years, the federal revenue doubled after he cut the tax rates. Unfortunately, the Dem-controlled congress spent $1.65 for every new dollar that came in. So what we really saw during the Reagan administration was overspending, not under collections.