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In 1991, Reagan's first year, income taxes were greatly reduced. In 1982 and 1984 taxes were raised to almost reach the the pre-1981 reduction level. In 1986, a major tax reform act was passed. This reform dropped the highest tax bracket level, but added taxes on business and made other changes that kept revenue about the same. The increases in Business Taxes and decreases in personal taxes were phased in over the new three years.
Wiki User
∙ 12y ago
Wiki User
∙ 11y agoThe president cannot unilaterally raise taxes. The US Senate and the House set the rates.
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Did Ronald Reagan Pay State Income Taxes in 1970?
yes
Which president has raised taxes the most?
Ronald reagan
What did Ronald Reagan do as chief legislator?
Ronald Reagan helped stimulate a 17 year period of growth in the US economy by sharply lowering taxes.
What actor became politically influential when he publicly opposed communism?
Ronald Reagan
Who made the movie love is in the air in 1937 when 26 years old?
The answer is Ronald Reagan.
How tall was Ronald Reagan?
Ronald Reagan was 6ft 1in
Was Ronald Reagan a vegetarian?
No. Ronald Reagan was not a vegetarian.
How do you spell Ronald Reagan?
You have it right- Ronald Reagan.
What is ronald's name?
do you mean Ronald Reagan's name because it is Ronald Wilson Reagan from his father Wilson Reagan
Whose controversial economic policy helped the US out of the recession by lowering taxes in the 1980s?
Ronald Reagan
Whose controversial economic policy helped the US out of the recession by lowering taxes in the 1980S's?
Ronald Reagan
Who was president of the U'S from 1981 to 1989?
Ronald W. Reagan served as the 40th President from 1981 to 1989.Ronald Reagan
