A Declaration of the End of the Reagan Era
"In every meaningful way, Reaganomics is alive and well, and still controlling our economy.
But what has 33 years of failed Reaganomics brought us?
It's brought us record levels of financial instability. It's brought us trade policies that have destroyed the working class, and union policies that have destroyed labor in America.
But most importantly, it's brought us tax policies that have exacerbated inequality, wrecked our economy, and put us at the mercy of boom and bust cycles.
When Ronald Reagan stepped foot inside the White House, the top marginal tax rate was at 74 percent, and a third of the federal government's income came from corporations.
Today, the top tax rate is sitting at 39%, most rich people pay a maximum of 20%, and corporations are only paying around 11% of the total cost of running the federal government.
Thanks to 33 years of failed Reaganomics, many Americans have bought the lie that tax cuts are a cure all for a struggling economy."
