A great piece in the WSJ by former Reagan speechwriter Kenneth Khachigian reminds us of what happened when Reagan was snookered into raising taxes 40 years ago.

“In 1988 Reagan complained that the 1982 tax increase that he reluctantly embraced was among the worst decisions of his presidency.”

“The fellas promised I would get $3 of spending cuts for every $1 of taxes I agreed to. Instead, for every dollar of new taxes we got $1.70 in new spending – the complete reversal of what I was promised.”

We would add that on several occasions when taxes were proposed to Reagan during his second term, he would fume: “I’m still waiting for those three dollars of spending cuts they promised me the last time we raised taxes.” They never came.

Reagan learned his lesson the hard way.  Will President Trump and the current Republicans in Congress?