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- Oct 22, 2012
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- Libertarian - Right
I'd love to eliminate the tax shelters and cut the tax paperwork - of course I would! But the idea that we will get more tax revenue by lowering the tax rates is, as George H. W. Bush so eloquently (and accurately) stated, "voodoo economics".
i will have you know thats is what Reagan did.....worked to eliminate tax shelters, by the 1986 tax reform act, ...however we are back to square 1 again.
every time taxs are cut, revenue falls at first by about a year or two, however by year three taxes are back to pre tax cut levels, and then they surpass them, reagan almost doubled treasury revenue with his plan...however congress continued to spend more money.
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