Actually, the need to reduce taxes has been around a lot longer than that. It was a wopping 5% tax rate that spured the American revolution. Can you imagine how upset those people would be if they could see the extremely high rates most people endure today? The French revolution was based on the same reasons. High taxes with low value for money. People couldn't afford to eat yet the beuracracy of the time was "living high on the hog".
One example would be New Zealand. They had an extremely bloated government with high taxes. The people said "enough is enough". Noe they have less government than PEI, lower taxes and the economy is moving in the right direction.
Could you explain how bloated beuracracies help society? They simply consume what they take and eventually take more and more with no results. Ambition continues to decline, who wants to work two days and get paid for only one while otheres sit on their butts and live quite well. Who wants to get up and go to work for a government that spends money like it is "going out of style"? The more money a government wants amd gets the more corruption that creepes in. We are seeing exactly this happening in most aspects of government right now.
Now that is a myth with plenty of evidence to show he did not. Your reason though is quite off. Communism ended because it was even worse for creating enthusiasm than our system (but we are getting there). The state owned everything, jobs, buildings, homes, food, etc... It did not matter how much "drive" someone had they could not get ahead. We are seeing this here, just ask any of the "old timers" who escaped those regimes.