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Both presidents Kennedy and Reagan proposed significant cuts in income taxes. Opponents of these tax ...

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Both presidents Kennedy and Reagan proposed significant cuts in income taxes. Opponents of these tax ...

Both presidents Kennedy and Reagan proposed significant cuts in income taxes. Opponents of these tax cut proposals argued that

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the tax cuts would benefit high-income taxpayers.

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cutting state sales taxes, rather than federal income taxes, would result in greater economic efficiency.

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it would be better to cut taxes on corporate profits.

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while the tax cuts would result in greater economic efficiency, there was too much opposition to the tax cuts in Congress. As it turned out, Congress ultimately approved both tax cut proposals.

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InMicro

Edition: 1^st

Authors: Hubbard, O'Brien

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