TEFRA of 1982. The Tax Equity and Fiscal Responsibility Act of 1982., It was the second tax act by Reagan.

TEFRA was federal tax legislation passed in 1982 that modified some aspects of the Economic Recovery Tax Act of 1981 (ERTA). Both of these pieces of tax legislation took place during the Reagan Presidency. Investopedia explains Tax Equity And Fiscal Responsibility Act Of 1982 - TEFRA
The ERTA was a piece of tax legislation that greatly lowered income tax rates, and all very high rates were given a maximum of 50%. The TEFRA modified aspects of the ERTA which caused concern over potential large budget deficits. TEFRA increased the tax received but not the tax rates. This was done by removing some of the tax breaks businesses received in the ERTA, such as the increase in the amount of accelerated depreciation that a company could deduct.
 
That's right.  Reagan actually screwed up the economy before he fixed it, sort of.  Remember, Reagan was a chronic legislator of tax changes.  Kindly remember, everytime legislation is passed the 'infrastructure' of the government agencies has to be adjusted to accommodate the new laws.  So, every year, Reagan added to his own government deficit because of changes in the tax strucutre by the changes instituted to the infrastructure alone. 
 
Government is not suppose to be a 'game' so much as an expert analysis with decisive decisions.  It is why President Obama's legislation frequently becomes enacted 'over time.'  To enact radical changes in the government is costly and adds to the fiscal responsibiltiy of the citizens.  Candidates are suppose to be able to identify problems and lend their expertise to how they will solve it when elected.  It isn't suppose to be rhetorical to have 'a feel good feeling' for the vote you placed.  To my knowledge, sentiment never resulted in good government.
 

...So unemployment, (click here)which had been stable until Reagan cut taxes, soared during the 15 months that followed the tax cut; it didn’t start falling until Reagan backtracked and raised taxes....


Raised taxes by rolling back generous allowance on business. 

This clearly illustrates, reducing taxes on businesses (no matter the nature of those taxes) DOES NOT increase employment.  It takes government to be the equalizer.