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The US Budget charts you link to back up your comments on the national debt, and also on Bush II tax cuts, but unless I'm misinterpretting something, they don't back up your comments on the Reagan tax cuts.
These charts from the CBO show government revenues from 1962 to 2004, and, knowing when Reagan and Bush's tax cuts were implemented, we can see very clearly that tax revenue, in fact, fell dramatically in each president's case.
 From 1980 through the end of Bush I, revenues climb every year except 1983 when they fell less than 3%, but climbed 10% in the following year, surpassing 1982 and 1983, and climbed in each of the following years.  Am I misinterpretting something?

PS: I can't vouch for Laffer's theories, but he was one of the funniest profs I have ever had.

by wchurchill on Fri Jan 6th, 2006 at 01:19:25 PM EST

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