Originally Posted by Vendzilla

hhhmmm, the dems have had the house and the senate for the last 3 years, they got in on the promise of change , still waiting for that one. Or is this the change they were talking about?

During Reagan's presidency, federal income tax rates were lowered significantly with the signing of the bipartisan Economic Recovery Tax Act of 1981. Real gross domestic product (GDP) growth recovered strongly after the 1982 recession and grew during his eight years in office at an annual rate of 3.4% per year. Unemployment peaked at 10.8% percent in December 1982?higher than any time since the Great Depression?then dropped during the rest of Reagan's presidency. Sixteen million new jobs were created, while inflation significantly decreased. The net effect of all Reagan-era tax bills was a 1% decrease in government revenues when compared to Treasury Department revenue estimates from the Administration's first post-enactment January budgets.However, federal Income Tax receipts almost doubled from 1980 to 1989, rising from $308.7Bn to $549.0Bn. Reagan also revised the tax code with the bipartisan Tax Reform Act of 1986