Inventing Homelessness

THE REAL REAGAN RECORD

ruary 18, 1981. Tables in the document make it unmistakably clear that the Administration expected the forthcoming tax cut to reduce revenues substantially below the amounts that would be collected in the absence of such a cut. Without the tax cut, revenues were projected to rise from $609 billion in 1981 to $1,159.8 billion in 1986. With the tax cut, they were projected to rise from $600.2 billion in 1981 to $942 billion in 1986. The total six-year revenue cost of the tax cut was thus estimated at $718.2 billion.

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THE REAL REAGAN RECORD

ruary 18, 1981. Tables in the document make it unmistakably clear that the Administration expected the forthcoming tax cut to reduce revenues substantially below the amounts that would be collected in the absence of such a cut. Without the tax cut, revenues were projected to rise from $609 billion in 1981 to $1,159.8 billion in 1986. With the tax cut, they were projected to rise from $600.2 billion in 1981 to $942 billion in 1986. The total six-year revenue cost of the tax cut was thus estimated at $718.2 billion.