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<President Regan, who lowered the top tax to 28%, back in 1982> First of all, Reagan lobbied for and signed the Act, but it came out of the (solidly) Democrat-
by DrScump 11y ago
<President Regan, who lowered the top tax to 28%, back in 1982>
First of all, Reagan lobbied for and signed the Act, but it came out of the (solidly) Democrat-controlled House.
Secondly, it dropped the top earned income tax rate to 50%[0], not 28%. That's a huge difference.
[0] https://en.wikipedia.org/wiki/Economic_Recovery_Tax_Act_of_1981 https://en.wikipedia.org/wiki/Economic_Recovery_Tax_Act_of_1...