Reply #20: Ah, yes, I remember well when Reagan did a tax overhaul.

[tclambert]

He said he was "simplifying" the tax code (Tax Reform Act of 1986). A tax accountant gave us a presentation. Said he wasn't worried about losing business "because here's the old tax code" and he holds up a thick book "and here's the new tax code" and holds up a book twice as thick. In DC, "simplifying" means "making things thicker." It sounds just like English, but the words have different meanings.

TRA86 was supposed to reduce taxes, also. BUT, according to the United States Treasury, it actually raised taxes. See http://www.ustreas.gov/offices/tax-policy/library/ota81.pdf Page 16 has a nice table. The second part, in 1992 dollars, gives a good way to compare various tax increases and decreases. For instance, it shows the Tax Equity and Fiscal Responsibility Act of 1982 (Reagan era) increased taxes more than the Omnibus Budget Reconciliation Act of 1993 (Clinton era).