Printed in the Herald-Times, October 18, 2021 To the Editor: It is simply not true that the budget deficits of the 1980's and 2000's were the result of tax cuts by Ronald Reagan and George W. Bush. Between 1980 and 1988, total federal revenue increased from $517,112 million to $909,238 million. Between 2000 and 2008, total federal revenue increased from 2,025,191 million to 2,523,991 million. Revenue went down in 2009 due to the banking crisis and related economic slowdown, but soon recovered and began to grow again. Even after the much maligned tax cuts signed by President Trump, revenue went up.
We must commit to lower government spending
We must commit to lower government spending
We must commit to lower government spending
Printed in the Herald-Times, October 18, 2021 To the Editor: It is simply not true that the budget deficits of the 1980's and 2000's were the result of tax cuts by Ronald Reagan and George W. Bush. Between 1980 and 1988, total federal revenue increased from $517,112 million to $909,238 million. Between 2000 and 2008, total federal revenue increased from 2,025,191 million to 2,523,991 million. Revenue went down in 2009 due to the banking crisis and related economic slowdown, but soon recovered and began to grow again. Even after the much maligned tax cuts signed by President Trump, revenue went up.