For 45 years, Americans have been waiting for the wealth to trickle down. Ever since Ronald Reagan slashed taxes for the rich in the 1980s, we’ve been told that giving billionaires and corporations more money would magically create jobs, raise wages, and lift everyone up.
But let’s be honest: The trickle never came. It was never meant to.
Instead, we got skyrocketing inequality, stagnant wages, and an economy that works only for the ultra-wealthy. If we truly want to “Make America Great Again,” we need to reverse Reagan’s failed experiment and bring back the policies that actually worked—like a 90% tax rate on the rich that built the strongest middle class in history.
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Between 1944 and 1963, America had a top marginal tax rate of over 90%. This didn’t mean the government took 90% of all income—only earnings above the highest bracket were taxed at that rate. And yet, despite these high taxes on the wealthy, the economy boomed:
• Wages rose in step with productivity.
• The middle class expanded.
• Public universities were well-funded.
• Homeownership was attainable.
• The interstate highway system was built.
This was the America that many look back on as the country’s golden age—a time when working families could afford a home, send their kids to college, and retire comfortably.
So, what changed? Reagan’s “trickle-down” economics killed it.
In 1981, Reagan cut the top marginal tax rate from 70% to 50%, then slashed it even further to 28% by 1988. The idea was simple: let the rich keep more money, and they’ll invest it, create jobs, and raise wages.
Instead, here’s what happened:
• The rich got richer. The top 1% saw their share of national income double since 1980.
• Wages stagnated. While corporate profits soared, worker pay barely kept up with inflation.
• Inequality exploded. The bottom 90% of Americans now own less wealth than the richest 1% alone.
• Debt skyrocketed. Reagan’s tax cuts, followed by Bush and Trump’s, ballooned the national debt while providing little benefit to ordinary people.
And yet, every Republican president since Reagan has doubled down on this failed theory—Bush cut taxes, Trump cut taxes, and now, Republicans want to extend those cuts permanently. How much longer do we wait for the trickle?
If we want an economy that works for everyone—not just billionaires—we need to bring back a truly progressive tax system. A 90% tax rate on the ultra-rich wouldn’t just be about fairness. It would be about saving the country from economic collapse.
1. It Would Reduce Income Inequality
Right now, the richest 1% own more wealth than the bottom 90% combined. Extreme inequality isn’t just unfair—it’s economically dangerous. When the rich hoard wealth, it slows down growth because regular people don’t have enough spending power. Progressive taxation ensures those with the most resources contribute the most.
2. It Would Fund Essential Services
A 90% tax on billionaires could fully fund universal healthcare, tuition-free public college, and major infrastructure projects—without adding to the national debt. Instead of endless tax cuts for the rich, we could reinvest in roads, bridges, schools, and public transit, creating jobs in the process.
3. It Would Create a More Stable Economy
Reagan’s tax cuts weren’t just unfair—they set the stage for economic crises.
• The 1920s tax cuts for the rich led to the Great Depression.
• The 2000s Bush tax cuts were followed by the 2008 financial crash.
• The 2017 Trump tax cuts helped fuel record inequality and inflation.
A fair tax system prevents economic crashes by making sure the economy isn’t just propped up by reckless speculation from billionaires.
For decades, we’ve been fed a lie—that cutting taxes on the rich would make life better for everyone. It didn’t.
Instead, the rich took the money and ran—stashing trillions in offshore tax havens, inflating stock prices, and buying politicians to keep the cycle going. They had 45 years to let the wealth trickle down. They didn’t.
If we want a strong middle class again, we need to reverse Reagan’s failed experiment and return to policies that actually worked. A 90% tax rate on the ultra-rich built America’s prosperity before, and it can do it again.
Stop waiting for the trickle. It’s time to take America back.
