The Flaws of "Reaganomics"

Reagonomics, on paper, initially made sense.

Reagonomics was a way to counter inflation — if you gave the investing class the money, then it would trickle down to the bottom of the pile. Essentially, by cutting taxes on the wealthy, they would spend more money, which would create more jobs and offer more products.

However, there were many issues with this ideology.

After all, it essentially killed the middle class. It hurt the wages of many union workers, and the social spending cuts that were induced by it only hurt the economy more.

Additionally, for economic growth, spending must increase. Because of reduced wages, the middle class spent money on less, which shrank the economy that wanted to sell products.

Reaganomics was inherently flawed, and overall was certainly a failure.