9 rowsAug 24, The Reagan Tax Cut (Economic Recovery Tax Act of ) () ()%%: Estimated Reading Time: 6 mins. Claim: While arguing over President Reagan’s tax cuts, Democrats claimed it would only benefit the rich.
But did it lead to a lot of economic growth?
The Democrat speaker of the House at the time, Tip O’Neill, called them royal tax cuts, because h Two Pinocchios. Nov 30, For one, most of the tax cuts Bush initiated in weren't of the type that would be expected to have a large impact on growth. As noted by former Reagan economic advisor Bruce Estimated Reading Time: 6 mins.