I disagree. 
The 1986 Reagan tax cuts actually increased IRS revenue from income and corporate taxes for 1986 of $348.959B and $63.143B respectively as follows:
-
1987: - $392.557B or an increase of 12.49% over 1986; $83.926B or an increase of 32.91% over 1986.
1988: - $401.181B or an increase of 2.19% over 1987; $94.508B or an increase of 12.6% over 1987
1989:  - 445,690 or an increase of 11.09% over 1988; $103.291B or an increase of 9.29% over 1988.
- Source: http://www.taxpolicycenter.org/statistics/amount-revenue-source