Revenues skyrocketed under Reagan? Uh no.
http://curiouscapitalist.blogs.time.com/2006/10/29/tax_cuts_and_their_consequence/
"What happened to personal income tax receipts? They rose 6% in 1981, then fell 2% in 1982, 6% in 1983, and 1% in 1984 before finally bouncing back 8% in 1985, 2% in 1986, and 9% in 1987. Then they dropped 2% in 1988 and rose 6% in 1989.
Both Bush and Clinton raised taxes on the rich.
In 1990, with the federal government deep in the red, Reagan's successor George Bush acquiesced to a tax bill that included effectively raising the top tax rate to 31%. Bill Clinton and Congress upped that to 39.6% in 1993.
What happened to personal income tax receipts? Down 1% in 1990, 4% in 1991, and 1% in 1992--but up 4% in both 1993 and 1994, 6% in 1995, 8% in 1996, and 10% in 1997.
Congress passed and President Clinton signed into law a variety of tax cuts that year, and revenues kept rising: 11% in 1998, 4% in 1999, 10% in 2000. Then came the Bush tax cuts of 2001, which included a rebate paid out that year, followed by another round of cuts in 2003. Personal income tax receipts dropped 4% in 2001, 15% in 2002 (the sharpest one-year decline since 1949), 10% in 2003, and 1% in 2004 before finally rising 11% in 2005.
Everybody knows you can't just look at raw revenue numbers, because revenue almost always goes up (except in bad recessions) because of population growth.
Adjusting for inflation and population growth, here are the numbers for revenue per capita:
1973-1979: 2.7%
1979-1990: 1.8%
1990-2000: 3.2%
2000-2007 approximately zero
So it looks like you're the one who doesn't know what he is talking about, Krellin. What a surprise.
anyone want to join a game?
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