export export export, that is the root to gaining all POPs their daily income. If capis have a reserve income hovering in the 90s, that means they make enough to build to 100 to buy luxury needs, but when they buy them it knocks their reserves back down below 100, and you end up in the dreaded luxury goods loop.
So you have to find a way to increase their income by either exporting more, lowering tariffs (and maybe subsidize if you can afford it), cut taxes (which you've done) or, if you are producing cars and/or airplanes to put out onto the WM, stop production. REmember that your POPs get first dibs on anythng you put out into the marketplace, free of tariff charges. If you are exporting cars and/or airplanes, your capis would be at the top of the list to buy, and that could very well be what puts them into the luxury goods loop. Stop exporting, and you might see their reserves go back over 100 and start building again. Expand your economy further so that their daily reserve growth is stronger, and then try exporting cars/airplanes again. Provided the rest of the world does not produce cars/airplanes in amounts that your POPs can access given your overall ranking in game, you can grow your economy enough to deal with this hurdle.