User Clip: Reagan Tax Cuts: "...the biggest financial heist of all time: The 1981 Tax Bill."

Robert McIntyre in 1991 panel discussion; Reagan Tax Cuts 10 years later: McIntyre; "...the biggest financial heist of all time: The 1981 Tax Bill. ".....So let's look what happened. Well, the deficit was not reduced; it skyrocketed. As Rudy has pointed out, the national debt tripled. Savings and investment didn't pick up. And the economy certainly didn't turn instantaneously upward. Instead, as the Fed cracked down in response to the expected supply side decifits, we had the worst recession since the 1930s. And clearest of all, despite the talk of across-the-board tax changes, the rich saw their taxes slashed; middle and low income people saw their taxes go up with inflation and higher payroll taxes, while incomes for average people stagnated...." "...But where we stand now(July 1991), unfortunately, is that we're still paying for the '81 changes. We still have a national debt we need to deal with, we still have an unfair tax system. What our goal should be for the future is not to r close