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Reagan budget cuts hit middle class programs
Economists say Reagan’s three-year tax cuts and budget plan will help the middle class more than the poor by reducing taxes for a $15 000 earner to near zero while a family earning about 100 000 could save around 17 000. They warn benefits may appear slowly for the less fortunate but long term aims could boost growth and reduce inflation. Experts like Bosworth and Gough debate whether stimulus will trickle down and create jobs or favor higher income groups.
MENTIONED IN THIS ARTICLE
Bosworth
Reagan
Basan
Tig
Robert Gough
Data Resources Inc
Gough