Detailed text transcripts for TV channel - FOXNEWS - 20170427:18:50:00
Reagan cut the top rate from 70 to 50 and from 50 to 28, revenue did increase. the debt went up, also, but because spending was never cut. so spending is part of the equation. i would say cut the tax rate, seek economic growth. if revenue is declining, cut spending. >> melissa: yeah. you made a really important point there. when they talk about what these tax cuts will cost, in terms of lost revenue, it's called static accounting. they're counting on no growth when they tell you what that number is. you said nobody really knows what the result will be. that's so true. i wanted to make that poi...
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