They only love the rich, and how they loathe the poor
President Reagan initiated supply-side, or “trickle down,” economics, which was predicated on the idea that money given to the rich would trickle down to the rest of us. It was largely done through tax cuts for the wealthy: the highest marginal tax rate on the eve of Reagan’s election was 70%. At one point, Reagan and the GOP hammered the rate down to 35%. Profits for the wealthy were also enhanced with Reagan’s attack on unions.
Meanwhile, in order to pay for the tax cuts, Reagan administered tremendous cuts in social programs for the poor, claiming that the programs were only being abused by “welfare queens” and lazy ne'er-do-wells.
Those in power only care for the increase and expansion of their own power, and view the rest of society as loathsome and manipulable.
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