federal deficit was and Ronald Reagan campaigned on a singular promise: He planned to cut taxes on everyone, but especially the rich. He insisted that those benefits would quickly to everyone and supercharge the economy. Throw in some social safety net cuts, Republicans said, and the whole plan wouldThey were wrong. all right, but the economy and the deficit skyrocketed. I should know: I graduated from college the same summer the tax cut passed, and I spent the next three years managing a Radio Shack waiting for the economy to get back on its feet. In 1982 Reagan was forced to to make up...…federal deficit was and Ronald Reagan campaigned on a singular promise: He planned to cut taxes on everyone, but especially the rich. He insisted that those benefits would quickly to everyone and supercharge the economy. Throw in some social safety net cuts, Republicans said, and the whole plan wouldThey were wrong. all right, but the economy and the deficit skyrocketed. I should know: I graduated from college the same summer the tax cut passed, and I spent the next three years managing a Radio Shack waiting for the economy to get back on its feet. In 1982 Reagan was forced to to make up...WW…

Inexpensive, too! Subscribe today and get a full year of Mother Jones for just $14.95.It's us but for your ears. Listen on Apple Podcasts.Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.Thank you for subscribing!By signing up, you agree to our and , and to receive messages from Mother Jones and our partners.Can you pitch in a few bucks to help fund Mother Jones' investigative journalism? We're a nonprofit (so it's tax-deductible), and reader support makes up about two-thirds of our budget.We noticed you have an ad blocker on. Can you pitch in a...…Inexpensive, too! Subscribe today and get a full year of Mother Jones for just $14.95.It's us but for your ears. Listen on Apple Podcasts.Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.Thank you for subscribing!By signing up, you agree to our and , and to receive messages from Mother Jones and our partners.Can you pitch in a few bucks to help fund Mother Jones' investigative journalism? We're a nonprofit (so it's tax-deductible), and reader support makes up about two-thirds of our budget.We noticed you have an ad blocker on. Can you pitch in a...WW…