Ronald Reagan's Economic Legacy

681 Words2 Pages

Today the top 1% account for 23% of the total income in the United States. In 2011, the “Occupy Wall Street” mass protest took on the “1%” as a protest movement calling attention to the inequality of income and wealth distribution in the U.S. and the influence of financial corporations on the U.S. government policies. The movement began in the Wall Street area of NY and quickly spread around the U.S. major cities. The protest mantra of “We are the 99%” was a direct hit on the income inequality and wealth distribution in the U.S. between the wealthiest 1% and the rest of the population. Reagan’s economic legacy is the erosion of the middle class so that the “‘man in the middle” income level is essentially unchanged and more Americans are now classified as “low income” than ever before. This is all a result of Reagan’s power to persuade which was unmatched by any President before him and possibly by any President since he left office.
“The Great Communicator” was the nickname given to Ronald Reagan because he was a powerful orator and able to persuade people. He told the nation what it wanted to hear. He was adept at dodging the truth and packaging information to the public in an optimistic way. Reagan won an election by using advertising to share his vision with a commercial entitled “Morning in America”. He understood the power of making an emotional connection with the everyday person. Reagan knew that if he gave people a way to talk about his political plan in plain but compelling language, then they could spread his message and endorse him to enlist other voters. Decades later Barack Obama would take this same approach, bringing his message of HOPE to a new generation of young Americans, by engaging them with an i...

... middle of paper ...

...was torn down. Reagan’s investment in the U.S. military and his political skills advanced democracy. But at what price? The deficit soared. The rest is history.
Bias and personal opinion cannot substitute for objective analysis. These are the facts and they hold true to today. Although Reagan brought the country out of a recession and secured our position as a global superpower, many believe he did so at the expense of those American citizens that need the most help--the poor, the disabled and the middle class. The deficit tripled from $934 billion to $2.7 trillion under Reagan as a result of lost revenue due to tax cuts while Reagan continued to invest in building the military. (source: consortiumnews.com ) That deficit continued to rise to $4 trillion with his Republican successor George H.W. Bush. By the late 1980s, middle-class incomes were barely higher

Open Document