Tax Equity and Fiscal Responsibility Act of 1982
TEFRA was signed by Ronald Reagan as a tool to close the huge budget gaps left by his 1981 tax cuts and ever-mounting defense spending. It closed tax loopholes, instituted excise taxes, and altered various tax rules rather than raising income taxes. However, many conservatives still vehemently opposed it.
Cry Wolf Quotes
[There is] no doubt that it [TEFRA] will curb the economic recovery everyone wants.
The true purpose of the tax bill is to finance a further expansion of government. For all of the yelling and kicking, Congress still has done nothing serious to curb government spending. Therefore we have a swelling deficit. And because of the deficit, we’re told, taxes must go up.
Every school child knows you don't raise taxes in a recession unless you want to make it worse.
Evidence
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Conservative Commentator Examines the History of Right-Wing Tax Cut Hypocrisy
Hard right-wingers fear-monger in the face of tax increases of both Republican and Democratic administations.