President Reagan's economic President Reagan's economic policy keeps on churning out contradictory superlatives. Last year Reagan rammed through Congress the largest tax cut in U.S. history: $749 billion over five years. Last week bleary-eyed Senators, under the President's prodding, debated until 4:47 Friday morning before approving the biggest peacetime revenue-raising bill: $98.6 billion over three years. The measure, which seems at odds with the President's celebrated supply-side tax theory, passed by a mere three votes (50 to 47). No Democrat voted for it.
The package of tax hikes and loophole closings is...
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