Good article by Larry Kudlow on Reaganomics.
Hard to believe, but taxes were that high just 25 years ago:
“When Reagan moved to implement his tax-cutting policies in 1981, he was severely criticized for favoring the rich and decimating U.S. financial solvency. Democratic candidates on the campaign trail are echoing those very same criticisms today. But Reagan was unmoved by partisan attacks 20 years ago. He first lowered top marginal personal tax rates to 50 percent from 70 percent, making the rate reduction fully effective in 1983. He next lowered corporate tax rates to 34 percent from 48 percent. Then, in 1986, in a second tranche of tax reform, the Gipper reduced the personal rate for individual incomes all the way to 28 percent.”