John Komlos Argues Ronald Reagan's 1981 Tax Cut Led To TrumpismHistorians in the News
tags: tax cuts, Ronald Reagan, Trump
Is it possible that the Economic Recovery Tax Act of 1981, followed by the Tax Reform Act of 1986, the legacy of Ronald Reagan is where it all went wrong? That is the case that John Komlos makes in his paper recently released onto SSRN - Reaganomics: A Historical Watershed. It wasn't morning again.
It Wasn't The Stupid Economy
Professor Komlos is an economic historian with PhDs in history and economics from the University of Chicago. He worked with Nobel laureate Robert Fogel, which impresses the hell out of me, so I have to take him seriously, even though I love ERTA and TRA 1986. Those acts are why public accounting was good to me, despite the fact that I dress poorly, can't stand golf and have a below average knowledge of sports.
The gist of the article is that the decreases in marginal tax rates did not boost the economy. Rather the benefits of tax cuts went disproportionately to the top tier. This has led to despair among the working classes (i.e. Hillary Clinton's deplorables) and the election of President Trump, which Professor Komlos thinks was not such a good thing. But what about her e-mails?
comments powered by Disqus
- Why Haven't the Afghanistan Papers Gotten More Attention?
- Native people did not use fire to shape New England’s landscape
- Meet the Forgotten Chemist and His “Poison Squad,” Whose Fight Against Deadly Chemicals in Food Led to the Establishment of the FDA
- Was Martin Luther King Jr. a Republican or a Democrat? The Answer Is Complicated
- How One Man's Story Offers a New Way to Understand Slave Insurrection
- National Security Archive Releases USCYBERCOM documents which shed new light on the campaign to counter ISIS in cyberspace
- Historian Jonathan Holloway will be named as Rutgers first black president
- The Twitterstorians Trying to De-Trumpify American History
- African Americans and Africa: A New Book about Black America’s Relationship with the Continent
- AHA Sends Letter to NARA Archivist about Altered Women's March Photo