The dip in the early 80's was due to a recession. The dip in the early 90's was due to a recession, the dip in the early 2000's...you get the picture.
I don't know how familiar you are with the complex morass called the US tax code Fuchs, much less its sordid history, but what the Reagan reforms did was lower rates, consolidate brackets and eliminate deductions. The result was that revenue did not change at all and effective tax rates (which is what really matters) barely budged. You can look at the effective tax rate tables here and see for yourself.
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