Neocon--well, we at least both agree on the whimsical part of this debate! :-)
Yes, you're right--tax cutting was principally pushed by Republicans (way too much, in my view, as the 1981 change led to gigantic deficits, the importance of which you and I clearly disagree) but it was Bradley who pushed through the 1986 tax reform, which as you accurately noted exchanged lower marginal rates for closing inefficient tax loopholes. I do give Reagan credit for sigining it, and at the last moment, for giving it a litle burst of support (via Don Regan, as I recall) that was helpful.
I think you understate the influence of liberals like Ted Kennedy in pushing the deregulation of various industries--at least airline deregulation and trucking deregulation. This was not so much a split along ideological lines, but rather urban vs. rural lines--Kennedy fought hard for both air and trucking deregulation, and George McGovern, normally an ally of Kennedy's, but representing the rural state of South Dakota, fought him tooth and nail.
As a liberal, I guess I should probably agree with you on deficits--it used to be liberals who argued that deficits didn't matter that much, which is why it's so weird to see supply-side conservatives make the same argument... I guess what they say about politics and strange bedfellows... |
