History Channel Bizarrely Credits 1980s Economic Recovery to the 'Reagan Tax Increases'
According to a new History Channel special on Ronald Reagan, the
profound economic recovery of the early '80s can be credited to "the Reagan tax increases."
The February 9 program contained this odd assertion while highlighting
the President's path to reelection in 1984. Of course, the Economic Recovery Act of 1981 actually cut the top marginal rate from 70 percent to 50 percent.
Despite this, narrator David Jeremiah asserted, "By 1984, Ronald Reagan is cruising toward re-election. After enduring a recession that threatened his hopes for a second term, the economy, thanks in part to the Reagan tax increases, is bouncing back."
RONALD REAGAN: We have much greatness before us. We can restore our economic strength and build opportunities like none we've ever had before. All we need to begin with is a dream that we can do better than before. All we need to have is faith, and that dream will come true. All we need to do is act, and the time for action is now. Thank you and good night.
NARRATOR DAVID JEREMIAH: The public response to Reagan is immediate and overwhelmingly positive. Congress is compelled to pass Reagan's economic agenda, legislation that had been stalled before the assassination attempt. The measures include huge tax cuts and vastly increased military spending.
REAGAN AD: It's morning again in America. And under the leadership of president Reagan, our country is prouder and stronger and better. Why would we ever want to return to where we were less than 4 short years ago?
NARRATOR: By 1984, Ronald Reagan is cruising toward re-election. After enduring a recession that threatened his hopes for a second term, the economy, thanks in part to the Reagan tax increases, is bouncing back.
- Scott Whitlock is a news analyst for the Media Research Center. Click here to follow him on Twitter.