Overview

• Reagan's tax cuts reduced the top income tax rate from 74% to 27%, benefiting the wealthiest Americans.
• The middle class, once encompassing up to 60% of the population, has significantly shrunk since the 1980s.
• Lower taxes on the rich have led to increased wealth concentration and weakened democratic processes.
• Key public services and social programs have suffered due to reduced government revenue.
• Efforts to reinstate higher tax rates on the wealthy face strong opposition in Congress.