reaganonmics

This Day In History: August 13 1981 REPUBLICAN Reagan signs Economic Recovery Tax Act (ERTA) Reagan’s economic policy drove the boom of the 1990s, but his tax program undoubtedly set in motion powerful forces of change that would result in both short- and long-term economic gains. On the other hand, critics of so-called “Reaganomics” point out that his tax cuts and the effects of steady economic growth disproportionately benefitted the wealthy, and vastly increased the gap between the nation’s rich and poor.