Wealth-Inequality

Reagan Signs ERTA: Massive Tax Cuts for Wealthy Begin Inequality Explosion

1981-08-13 00:00:00 +0000 UTC | Importance: 9/10

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 Reagan Congress Jack Kemp William Roth tax-cuts reaganomics supply-side-economics wealth-inequality trickle-down +1 more

Wealth Inequality Explodes: Reagan Policies Accelerate Income Gap

1981-01-01 00:00:00 +0000 UTC | Importance: 9/10

Income and wealth inequality surge during the Reagan presidency, with the top 1% of earners capturing an increasingly disproportionate share of national income while middle and working-class incomes stagnate. The top 1% income share rises from 9.0% in 1979 to 13.8% by 1986—a 53% increase in less …

Ronald Reagan Top 1% earners Middle class Working class wealth-inequality income-inequality reaganomics gini-coefficient tax-policy