We're bringing up Reagan now because his presidency ushered in the Gilded Era we're still enduring. As L.Z. Granderson writes in his tribute to Frankie Beverly, Reagan drastically cut social programs and gave enormous tax cuts to the wealthy. Warren Buffett has remarked that his secretary's taxes are higher than his. For decades since Reagan, the tax system has been tilted in favor of high-income households at the expense of the middle class. The Trump tax cuts to the wealthy are extreme. The working class thinks he helps them, but his presidency was and would again be a continuation of favoring the rich over the poor and middle class. But Trump promises to take it further this time: to dismantle the government and enact Project 2025.
A Best of the Web blog
Thursday, September 26, 2024
Economic Inequality from Reagan to Trump
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