Oh please. He couldn’t get spending cut and congress forced his hand. Taxes were continuously raised to deal with the deficit and it came to a head during the infamous Bush 1 tax rises, that incidentally led to balanced budgets in the late 1990s and evaporated since the subsequent tax cuts.
If anything the Reagan tax reforms and simplification were more important. 90% tax rates are ridiculous, even though nobody paid that in practice due to all the deductions.
I’m not trying to shit on Reagan or anything. He was certainly inspirational, charismatic, and was a huge boost to national morale, but IMO he was overrated and had lucky timing more than he was a great man.