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Politics : View from the Center and Left
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To: Dale Baker who wrote (132909)3/12/2010 12:17:21 PM
From: Katelew  Read Replies (1) of 541298
 
ATT was broken up. Perhaps the significant innovation that has occured since that time is a result?

The interesting thing to me about the Reagan years is that tax receipts, as a percentage of GDP, were pretty constant at 19% of GDP. Nevertheless, deficits began to accelerate (by historical measurements) which has always led me to believe that spending was the impetus. Perhaps it was mainly the increases in military spending.
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