Jeff Jacoby Thinks We Need A Big Tax Cut

I couldn’t agree more!

Fortunately, Ronald Reagan saw the promise in the Kemp-Roth proposal and made it a key plank in his campaign for the presidency. On Aug. 15, 1981, less than seven months after being sworn in, he signed Kemp-Roth into law. It was the cornerstone of what would prove the most successful economic policy in recent American history. It launched a boom that would last, save only a shallow eight-month turndown in 1991-92, until the end of the century…
Far from draining the Treasury, Reagan’s policies sent federal revenues surging. The government’s take doubled from $517 billion in 1980 to more than $1 trillion in 1990 – an inflation-adjusted increase of 28 percent.

Unfortunately, spending climbed even faster. Congress routinely declared Reagan’s budgets *dead on arrival* and insisted on spending more than he requested.

I wonder if our friends on Beacon Hill understand this? I guess not, since they just gave us the largest tax increase in Mass. history and want even more for next year!