Tax Cuts Aren’t Free

Tim Pawlenty claimed that Reagan's tax cuts increased revenue "by almost 100 percent during his eight years as president." Bruce Bartlett, who served under Reagan, schools T-Paw:

[N]o one in the Reagan administration ever claimed that his 1981 tax cut would pay for itself or that it did. Reagan economists Bill Niskanen and Martin Anderson have written extensively on this oft-repeated myth. Conservative economist Lawrence Lindsey made a thorough effort to calculate the feedback effect in his 1990 book, The Growth Experiment. He concluded that the behavioral and macroeconomic effects of the 1981 tax cut, resulting from both supply-side and demand-side effects, recouped about a third of the static revenue loss.