The victory of Proposition 13 in California in 1978 is often seen as the beginning of the modern tax revolt. The vote by California in favor of limiting taxes gave a boost to the movement for the Kemp/Roth tax cuts, passed in 1981 after Ronald Reagan was elected President.
The promise of tax cuts played a big role in the election of Ronald Reagan in 1980. Walter Mondale's pledge to raise taxes ensured a landslide re-election of President Reagan in 1984.
George Bush was elected President in 1988 largely on the strength of his pledge to veto any new taxes passed by Congress. Instead, President Bush cooperated with the Democrat leaders in Congress to pass the largest tax hike in American history.
President Bush was rewarded for his betrayal of the taxpayers by massive repudiation at the polls in 1992. Bill Clinton was elected President after promising a middle-class tax cut. Instead, he promoted and signed a new tax increase, even larger than the Bush tax hike.
The Clinton tax hike led to a Republican victory in the 1994 elections to Congress. Amazingly, the Republicans have not made any progress toward repealing the Clinton Tax Hike.
Indeed, repeal of the Clinton Tax Hike was not included in the Contract With America. When the Republican leaders talked of tax cuts in 1994 and since, they limited their proposals to cuts targeted at certain groups: the Child Tax Credit, for parents, and a Capital Gains Tax cut.
A cut in the Capital Gains Tax would benefit a middle class families when they sell their house, or when they sell stocks to pay for a child's education. But a greater benefit would be realized by the wealthy investors the Republican Party seems so committed to.
The Libertarian Party calls for real tax relief through abolition of the Federal Income Tax. If elected, I will support efforts by Rep Chris Cox (CA) Joe Scarborough (FL) Scott McInis (CO) and others to repeal the Federal Income Tax and abolish the IRS.
For Real Tax Relief, Vote Libertarian in 1996.