February 14, 2011 - 12:45pm
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."