(From Real Clear Politics)
As for “the rich,” higher-income taxpayers paid more — repeat, MORE tax revenues into the federal treasury under the lower tax rates than they had under the previous higher tax rates.
That happened not only during the Reagan administration, but also during the Coolidge administration and the Kennedy administration before Reagan, and under the G.W. Bush administration after Reagan. All these administrations cut tax rates and received higher tax revenues than before.
More than that, “the rich” not only paid higher total tax revenues after the so-called “tax cuts for the rich,” they also paid a higher percentage of all tax revenues afterwards. Data on this can be found in a number of places, including documented sources listed in my monograph titled “‘Trickle Down’ Theory and ‘Tax Cuts for the Rich.'”