Heritage Explains 023: The History of Lower Tax Rates
History has proven that when tax rates are reduced, the economy grows and living standards increase. Tax rates were slashed dramatically during the 1920s. Because of this, personal income tax revenues rose from 1921-1928 by more than 60%. In the 1960s President Kennedy proposed across-the-board tax rate reductions. Again revenues climbed from 1961-1968 by 62% and in the 80s President Reagan proposed sweeping tax rate reductions. This time total tax revenues climbed by 99.4%.
*This video is available via The Heritage Foundation.