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Overspending can sabotage benefit of any tax cuts

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Internal Revenue Service records show increases in tax revenues for every year of the Reagan administration.
More money was collected after the tax cuts, and the rich actually paid more total taxes and a higher percentage of all taxes.
So why did the deficit increase?
The simple answer is more money was spent than collected, even with increased revenues.
Other tax cuts have produced the same results, but overspending can sabotage the benefits of tax cuts.
Tom Hensley
Kingston


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