LET'S REMEMBER OUR HISTORY. Power Line comments on Vice President Mondale's explanation for why he advocated higher income taxes. "Mondale must have forgotten how Ronald Reagan, after beating Mondale, cut taxes and created the biggest economic boom in history" (quoting Richard Johnson.) Erm, no, not quite. President Reagan carried those 49 states in 1984. In 1986 he signed a tax reform act that put in place one of the biggest expansions of the tax base in history. Marginal tax rates matter, but so do exclusions, exemptions, deductions, and credits, many of which ceased to be after the signing of that law.

UPDATE: Tapped on the same point, albeit with editorial comment.