By mid-Reagan presidency, the structural mechanisms of permanent upward wealth redistribution are firmly established: union-busting destroys worker bargaining power, tax policy rewards capital over labor, financial deregulation enables speculation and asset stripping, and weakened antitrust …
Ronald ReaganAmerican workersWealthy eliteCorporate executivestrickle-downinequalityreaganomicseconomic-legacystructural-inequality
President Ronald Reagan signs the Economic Recovery Tax Act (ERTA), enacting sweeping tax cuts that disproportionately benefit the wealthy and inaugurate the “supply-side economics” era. The legislation slashes the top marginal tax rate from 70% to 50% and the bottom rate from 14% to …
Ronald ReaganCongressJack KempWilliam Rothtax-cutsreaganomicssupply-side-economicswealth-inequalitytrickle-down+1 more
Empirical evidence systematically disproves Reagan’s supply-side economic theory—the claim that tax cuts for the wealthy would generate economic growth benefiting all Americans through “trickle-down” effects. Statistical analysis reveals the correlation coefficient between top tax …
Ronald ReaganArthur LafferDavid StockmanGreg MankiwCongressional Budget Officesupply-side-economicstrickle-downreaganomicseconomic-theorytax-policy