A comment on the article by John Shoven and John Whalley in this volume. Copyright 2005 American Journal of Economics and Sociology, Inc..

The Tax Reform Act of 1986 was widely heralded as the most significant change in our nation's tax law since the income tax was extended to the masses during World War II. It was the crowning domestic policy achievement of President Ronald Reagan, who proclaimed it "the best antipoverty measure,...