Actually, if you check the records, you'll see that Reagan's big tax cuts in 1981 resulted in lower revenues (even as the economy grew) and large deficits.
http://mediamatters.org/items/200509160008 Then, when Reagan signed the largest tax increase in US history in 1982 (TEFRA) and another tax increase in 1984 (Deficit Reduction Act of 1984), revenues climbed again. Unfortunately, so did spending under Reagan's budget - spending on the military.
But if you're going to claim that Clinton's remarkable performance with the economy was the result of Reagan's policies (somehow ignoring 4 years of Bush 41), then you'll have to attribute any economic growth now to Clinton's policies, eh?