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"Necessary"
(lemmy.ml)
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this post was submitted on 30 Oct 2024
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That graph is interesting. When was Reagan president again...?
Nailed it.
81-89. I don't think Reagan's presidency or party really explains it, because we see it rise shortly and then fall, both during Bill Clinton's presidency (93-2001). So George H.W. Bush raised taxes during his term, and then Clinton cut them again, but did so while balancing the budget (Clinton ran a surplus).
Reagan certainly slashed taxes, but so did Clinton, and to a similar degree.