Updating Reaganomics - By RAMESH PONNURU NYTimes.comQuicklink submitted by Susan Lee Schwartz Permalink
|'TODAY'S Republicans are very good at tending the fire of Ronald Reagan's memory but not nearly as good at learning from his successes. They slavishly adhere to the economic program that Reagan developed to meet the challenges of the late 1970s and early 1980s, ignoring the fact that he largely overcame those challenges, and now we have new ones... When Reagan cut rates for everyone, the top tax rate was 70 percent and the income tax was the biggest tax most people paid. Now neither of those things is true... Yet Republicans have treated the income tax as the same impediment to economic growth and middle-class millstone that it was in Reagan's day. House Republicans have repeatedly voted to bring the top rate down still further, to 25 percent'....and 'The rising cost of health insurance has eaten up raises. Controlling the cost of health care has to be a bigger part of the agenda...'|
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