Tax Cuts & the Poor: Reagan & Now
When Ronald Reagan took office back in 1981, he had three goals: a tax cut to stimulate the economy; cutting back on federal spending and regulations; and building up the American military to a state of preparedness after a post-Vietnam demise. He accomplished all of those except for the cutback on federal spending. Some blamed his military buildup for that, but the bulk of the increased spending was on the domestic side—Democrats who controlled the House wouldn’t allow any sensible… Read more »