PGL at Econospeak adds to criticisms of current ‘Reaganolatry’:
Federal Tax Revenues During the 1980’s
I have a suspicion that the Post forced him to include the inflation-adjusted number, rather than let him get away with the gee-whiz nominal number, which is, um, inflated by the relatively high rate of inflation that prevailed even in the later Reagan years. In any case, however, Moore offers no context, leaving the impression that this was an extraordinary achievement. So I looked at real federal receipts over a longer period, shown above using a log scale so that the slope of the line represents the rate of growth. If you take the period Reagan was in the White House, 1981:1 to 1989:1, I get an increase of 14.3 percent; I’m not sure why Moore’s number is bigger, but never mind.