LYCOS RETRIEVER 
Reaganomics: Increases
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The belief by some proponents of Reaganomics that the tax rate cuts would more than pay for themselves was influenced by the Laffer curve, a theoretical taxation model that was particularly in vogue among some American conservatives during the 1970s. Arthur Laffer's model predicts that excessive tax rates actually reduce potential tax revenues, by lowering the incentive to produce. But while Federal Government tax revenues did increase significantly following the tax cuts of the Reagan years, that was mostly because of already scheduled increases in the Social Security Payroll Tax
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It must not be imagined that phrases such as "the victims of Reaganomics" are purely metaphorical. An effective sacrifice requires a real Man Eater and real deaths. lt is not too dif-ficult to determine the approximate number of additional deaths brought about during Reagan's Time of Sacrifice. A careful statistical analysis has been made by the Congressional Joint Economic Committee of the average increase in mortality rates during recessions for suicide, homicide, cardiovascular deaths and other indices of mortality affected by economic activity. Extended to the present period, these rates show that approximately 150,000 additional deaths can be attributed to the effects of Reaganomics.(18) To this figure must be added the deaths attributable to Reagan's budget-cutting efforts - mainly those aimed at the tens of millions of women and children helped by government programs-such as the deaths
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Remember what happened right after President Clinton assumed the presidency and he tried to replace Reaganomics with Clintonomics. The first thing he did was to re-evaluate the circumstances in which he found the nation, and in light of larger-than-anticipated budget deficit projections, he determined that he must ask Congress to increase taxes rather than cut them as he had proposed during the campaign. Now, don’t get me wrong, the former president not only was justified in re-evaluating his meager tax proposals, but ... obliged, in light of altered circumstances, to do so. But the mistake he made was to significantly increase tax rates rather than revising the small, narrowly targeted tax cuts he had proposed during the campaign into broad-based tax rate reductions across the board.
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While social mobility -- probably the best indicator of "freedom" -- has steadily increased over the past 50 years in most of Europe and particularly in the Scandinavian countries, social mobility has crashed in the US since Reaganomics. We're now the lowest -- the most rigidly socially stratified and "unfree" -- of all developed nations in the world, and this is happening at the same time that the rise of economic inequality in the US has hit a high not seen in this nation since the 1920s, just before the Republican Great Depression.
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