Derek Thompson: Ronald Reagan Raised Taxes in a Recession, Too
[Derek Thompson is a staff editor at Atlantic Business, where he writes about economics, business and technology. Derek has also written for BusinessWeek and Slate.]
I do not agree with most things written by Amity Shlaes, the right's resident historical revisionist....[S]he's blaming FDR's tax policy for the 1937 double dip and warning that letting parts of the Bush tax cuts expire will do the same...
[A] reason to think she might be wrong is that Reagan raised taxes in a recession, too. In 1982, with unemployment near 10 percent, President Ronald Reagan signed TEFRA....
Read entire article at The Atlantic
I do not agree with most things written by Amity Shlaes, the right's resident historical revisionist....[S]he's blaming FDR's tax policy for the 1937 double dip and warning that letting parts of the Bush tax cuts expire will do the same...
[A] reason to think she might be wrong is that Reagan raised taxes in a recession, too. In 1982, with unemployment near 10 percent, President Ronald Reagan signed TEFRA....