Joel Hefley: “the last time taxes were cut in the 1980's several things happened. Many people like to call it the Reagan boom. It…”

“the last time taxes were cut in the 1980's several things happened. Many people like to call it the Reagan boom. It followed the tough times people faced in the 1970's. During the Reagan boom, 18 million jobs were created; 18 million jobs were created. Manufacturing production increased by almost 50 percent. These are good-paying manufacturing jobs, Mr. Speaker. Incomes went up across the board. Taken together, we can say that prosperity went up. Yes, the deficit also went up, but the dirty little secret that one never ever hears the liberals talk about is that spending went up, and spending increases are what caused the deficit to increase. What about revenues? Why do we not ask the liberals if revenues increased or decreased? They increased. Why do we not ask them to tell us if tax cuts resulted in revenues going up or going down? They went up. Why do we not ask them to explain to us how the tax cuts caused the deficit? They did not. Why do we not learn from experience, Mr. Speaker?”