Reagan’s ‘Trickle Down’ Tax-Cuts-for-the-Wealthy Policy Is Still Ruining the Economy – in 5 Charts

It wasn’t a “trickle,” it was a gusher, and the money went up to the wealthy, not down to the middle and working classes.

George H.W. Bush called it “Voodoo Economics” when he was running against Reagan in 1980 – before he drank the Kool-Aid and became Reagan’s vice president. Well, they’re still doing that voodoo they do. Trump, McConnell and company passed yet another tax cut for their wealthy donors and corporate sponsors in 2017. And they’ll do it again if the control the White and the Congress after 2024. Count on it.

Reagan's "trickle down" economics policy is still ruining the economy


Poverty Rate Rises to Quarter Century High

Census chart updated by Pensito Review to show presidential eras

Last week, the Census Bureau released a report on poverty that found that the number of Americans living in poverty has risen to 15.1 percent, the highest it has been since 1983:

About 46.2 million people, or nearly one in six, were in poverty in 2010, compared with 43.6 million, or 14.3 percent, in 2009.

The statistics, contained in the report, titled “Income, Poverty and Health Insurance Coverage: 2010,” cover 2010, when U.S. unemployment averaged 9.6 percent, up from 9.3 percent the previous year.