two charts show the effect of the largest income tax cut
and the largest income tax increase in US History.
In 1982, the Reagan
tax cut took effect (it began three months into the
fiscal year), reducing the top marginal rate
from 70% to 50%.
In 1993, the Clinton
tax increase raised the top rate from 31% to 39.6%.
The Laffer quiz:
Which of these charts is Clinton's and which is
Choose your answer:
1. Reagan - A; Clinton - B
2. Reagan - B; Clinton - A
Poverty: Children and Elderly
Iraq Causalities Budget deficits