The Reagan Administration ushered in a new breed of self-serving Republicans called Neo-Cons in 1981 and America has been on an economic downward turn ever since. President Ronald Reagan welded a power in America never seen before. His presidency was the marriage of a professional actor with the role of president, a winning combination in a country that idolizes screen and stage actors.
The trickle down theory was borne out of this administration. With this theory, the Neo-Cons were able to convince the American public that if they would allow the owner class the privilege of not paying taxes, as is required by our Constitution, that they would create jobs for all, and the whole country would grow and prosper as the accumulated wealth of the upper class trickled down onto the middle and lower. This theory to date has failed miserably. Reaganomics has brought the quality of life down for most Americans because it has had a reverse affect; rather than wealth trickling down, money has been whisked up and away from the middle and lower classes creating a huge income gap.
Union busting also became the preoccupation of this new Corporate Republican Party. The battle to retain and acquire bargaining power for the public and private workers stepped up and the demonetization of hard working Americans had begun. Curiously, three unions left alone by the GOP prospered and gained enormous power, The American Medical Association, The American Bar Association and The National Rifle Association.
Deregulation of private industries and reversal of laws and policies put in place to protect and serve the nation began during this presidency and the affects have been devastating.
In his book titled, Tear Down This Myth, Will Bunch illustrates how the right wing has used the legacy of Ronald Reagan to strengthen the failed ideology aptly-named, trickle down economics. In 2008 all GOP candidates for president claimed Reagan’s mantle, showing us that the misconceptions of the Reagan Presidency remain. For all intent and purposes Reagan has become their god.