Title: PolitiFact | Loughlin says Reagan's 1981 tax cuts led to exponential economic growth
Headings: After Ronald Reagan cut taxes in 1981 the U.S. enjoyed "exponential growth."
After Ronald Reagan cut taxes in 1981 the U.S. enjoyed "exponential growth."
Loughlin says Reagan's 1981 tax cuts led to exponential economic growth
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Content: PolitiFact | Loughlin says Reagan's 1981 tax cuts led to exponential economic growth
John Loughlin
stated on August 20, 2010 in a campaign commercial: After Ronald Reagan cut taxes in 1981 the U.S. enjoyed "exponential growth." Rhode Island
Economy
Federal Budget
History
Taxes
John Loughlin
By C. Eugene Emery Jr. September 5, 2010
Loughlin says Reagan's 1981 tax cuts led to exponential economic growth
John Loughlin, who is running in the Republican primary in the 1st Congressional District, is sounding a bipartisan theme in his call for cutting taxes as a solution to our economic problems. He tells viewers in his new web ad "What we need to do is what John F. Kennedy did in 1961, which is cut taxes. What we need to do is what Ronald Reagan did in 1981, and cut taxes and enjoy exponential growth." Loughlin is echoing a popular Republican theme: If you want to grow the economy, cut taxes. The favorite example is Reagan, who was a big proponent of cutting taxes and reducing government spending. In his ad, Loughlin's unstated implication is that Reagan cut taxes and the economy grew explosively as a result. But is it really that simple?