Page "Reaganomics" Paragraph 15

According to William A. Niskanen, one of the architects of Reaganomics, " Reagan delivered on each of his four major policy objectives, although not to the extent that he and his supporters had hoped ", and notes that the most substantial change was in the tax code, where the top marginal individual income tax rate fell from 70. 1 % to 28. 4 %, and there was a " major reversal in the tax treatment of business income ", with effect of " reducing the tax bias among types of investment but increasing the average effective tax rate on new investment ".

Roger Porter, another architect of the program, acknowledges that the program was weakened by the many hands that changed the President's calculus, such as Congress.

President Reagan, has remained popular as an antitax hero despite raising taxes eleven times over the course of his presidency, all in the name of fiscal responsibility.

Reagan ultimately raised taxes more times than he cut them.

According to Paul Krugman, " Over all, the 1982 tax increase undid about a third of the 1981 cut ; as a share of G. D. P., the increase was substantially larger than Mr. Clinton's 1993 tax increase.

" According to historian and domestic policy adviser Bruce Bartlett, Reagan's tax increases over the course of his presidency took back half of the 1981 tax cut.