This is the Cato Daily Podcast for Tuesday, October 10th, 2017. I'm Keelib Brown.

The last major American tax reform was 1986.

Rates were cut, deductions eliminated,

and as importantly as any element of policy contained in that bill,

it was remarkably popular.

For tax reform today, Cato Vice President John Samples discusses the 86 reform

and what it has to offer today's debate.

The 1986 tax reform, which was brought about by bipartisan efforts.

It started with Bill Bradley and the Democratic leadership.

Ronald Reagan got on board.

There was some resistance within his administration to it,

including our former chairman Bill Niskanen

wasn't all that excited about it at the time.

But ultimately it did pass and the crucial Republican was Bob Packwood, who was on the Senate

side and was expected to actually oppose it. But it did happen.

It wasn't supposed to happen. Right now, the current one is not supposed to happen.

So it's possible that supposed to happen.

So it's possible that it could happen.

1986 tax reform was one of the most extraordinary things.

I think this happened in my lifetime in some ways in terms of getting the system to work.

What were the keys to making that tax reform work?

I think in terms of getting it through, there was, Reagan was very important.

...