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Reagan tax cuts would favor the wealthy over inflation hurt taxpayers
A Democratic staff study and AP analysis conclude Reagan's 30 percent across the board tax cut would deliver greater after tax gains to upper income households than to middle and lower earners once inflation and bracket shifts are counted. Experts call the plan regressive, noting inflation and payroll effects diminish gains for most while shielding high earners.
MENTIONED IN THIS ARTICLE
New York Times
Associated Press
Reagan
Joint Economic Committee of Congress
Treasury
Joseph Pechman
Brookings Institution
Washington
Pechman
Democrats
Henry S. Reuss
Dwis
Joint
Rudolph Penner
The
American Enterprise Institute
Citizens For Tax Justice
Richard Musgrave
Harvard University