Would the last 25 years been as bountiful had this been the case?

Let's say that Ronald Reagan didn't lower taxes. What effect would that had on the innovation and productivity gains of the last 25 years? We may be about to find out. With the democrat party entrenched throughout all levels of government we are hearing a tremendous clamor for new taxes and fees. Not to mention increases in spending. Just have a look at my state, New York. We are about to get a new budget that actually increases both spending and taxes. This is at a time when the prime engine for taxable funds, Wall Street, is in need of not an oil change, but a re-build.

JustThinking