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Reagan and Taxes



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Peter Wallison uses the great man’s example to argue against buckling on tax cuts. I’m in complete sympathy with the goal, but I think it’s odd that Wallison neglects to point out that Reagan was, in fact, unable to resist the pressure in 1982. That was the year of the Tax Equity and Fiscal Responsibility Act, which undid some of Reagan’s tax cuts. Reagan signed that tax increase.



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