20th Anniversary of Ronald Reagan Tax Cut

[**DONOTDELETE**]

Monday marks the 20th anniversary of the Ronald Reagan tax cut, also known as the Kemp Roth bill after its co-sponsors Rep. Jack Kemp and Sen. Bill Roth. "Twenty-years ago today, Ronald Reagan signed into law the Economic Recovery Tax Act (ERTA) slashing marginal income tax rates by 25 percent over three years and indexing them for inflation to make the lower rates permanent," said Jack Kemp, now co-director of Empower America. "It may be hard for some people to remember, but in 1980 when Bill Roth and I embarked on the drive to lower tax rates the top marginal income tax rate was 70 percent and the lowest was 20 percent. Following the experience of the Kennedy tax rate cuts of 1962 and 1963, the Kemp-Roth bill was designed to reduce tax rates by 30 percent across-the-board."


The economic plan that brought about the economy of the 90's and klinton squandered!

[Lyta_Alexander]

I remember Reagan tax cut back in da day how my parents got scoreboard BIG TIME over that they used that money to really pay off some serious medical debts

Back in mid 1980 my dad have serious medical surgery that I not getting to but they were in debt for good five months that tax cut pay the bills

But nobody remember Jack Kemp only that he was Orenthal little buddy