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The plan lowered the top individual tax rate from

Jun 08, The way NTU’s expert Paul Gessing figured it, the Bush cuts amounted to % of GDP while Reagan’s cut came in at % and Kennedy’s proposal at %. “The effect of Bush’s. Sep 13, The top Democrat on the House Ways and Means Committee on Wednesday urged Congress not to make the same tax cut mistakes of Ronald Reagan and George W.

Bush."What we want to be on guard here for [is] what happened in 20when taxes were cut bytrillion," Massachusetts Rep. Richard Neal said on CNBC's"Squawk Box." While the Bush tax cuts. Oct 31, The Reagan Tax Cut, also known as The Economy Recovery Tax Act ofwas huge during the s. The provision aimed a 23% cut in individual income tax rates over three years.

This brought the high marginal tax rates - the highest ever - from 70% to 50%. At the time, the inflation rate was nearly 10%. Accordingly, the tax cut wasn’t able to pay for itself/5(6). Aug 24, InReagan’s tax cuts represented percent of the budget. Each of Bush’s tax cuts are smaller than Reagan’s- EGTRRA ( percent), JCWA ( percent) and the Tax Cut ( percent). When the Bush tax cuts are combined ( percent), they would be larger than Reagan’s tax cut, yet smaller than Kennedy’s tax stumphauling.buzzted Reading Time: 6 mins.

Dec 08, So with Reagan’s signature, Congress undid a good chunk of the tax cut by raising taxes a lot in, and George H.W.

Bush signed another tax increase in and Bill Estimated Reading Time: 5 mins. Apr 22, a) The Reagan tax cuts signed into law in Augustwhich took effect starting in The highest marginal income tax rate was reduced from 70% before to 50% from onwards.

There was an additional round of tax cuts under a separate law passed inwhich brought this rate down further to % in and to 28% from onwards. Sep 22, Sep 22, The Bush tax cuts are minuscule compared to the huge tax reductions enacted under President Reagan in Initially, at least, Mr. Bush's proposals would reduce tax revenue by 4 billion to 8. So, what is the static number, the cost of the Reagan-Bush tax cuts for the top 5%? 10 Trillion is the best number I've come up with.

Do you have an idea? Sources: Phased-in 23% cut in individual tax rates over 3 years; top rate dropped from 70% to 50% phased-in increase in estate tax exemption from, to, in