January 14, 2013

Commentary: Behind the tax cuts

Pop quiz: Who’s the bigger tax cutter, Barack Obama or Ronald Reagan? Answer: Obama. The fiscal cliff agreement, signed early this year, cuts expected federal income tax revenue by about $1.8 trillion over the next five years, while the famous supply-side Reagan tax cuts in 1981 cost the government about $1.5 trillion, in inflation-adjusted cash, over their first five years.

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