Don't forget the war on drugs
this post was submitted on 20 Mar 2025
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Congress approved the budgets that created all of that debt. Congress was controlled by the democrats the entirety of his time in office. Congress approves of all tax legislation. It's almost as if the democrats aren't any less inclined to support the wealthy.
Congress dropped the top marginal tax rate from 70% to 28% and gained more tax revenue when it was set to 70%. This is because the brackets at that high of a level heavily incentivized rich people to engage in tax evasion or tax avoidance schemes. Removing this high tax rate made the government more money because fewer people cheated on their taxes. This has only worked once and there's no reason to believe further reductions to the top rate would create similar revenue increases.
The missiles sold to Iran were non-functional. The bigger problem was either using the profits from the sale to fund the Contras as we were destabilizing a foreign power for the crime of wanting less capitalism.
What Reagan's real crime was setting Americans against their own government. He was able to push through the destruction of a huge portion of the safety net we had for people under the guise of cleaning up corruption.
This macro is a mess.
Reagan's policies expanded wealth inequality, exploded the deficit, and created a narrative that still fuels anti-government rhetoric today.
The policies put forth by the GOP and put into place by the democrat controlled Congress expanded the national debt debt (deficits are annual shortcomings the national debt not deficit is the larger concern).