You wanna hear a little story of how it all began? Once upon a time, there was a man named Ronald Reagan. He was known as the "Great Communicator" because he was good at spinning words.
He was a failing actor who decided to run for president. His campaign slogan in 1980 was "Let's Make America Great Again" and he won. Yeah, it was Reagan first.
Before Reagan was elected, the very wealthy paid 70% in taxes. He was so good at spinning words that he convinced the poor people of America that the rich needed to pay less in taxes. So he lowered it to 28%. He said this would create more jobs and opportunities for the poor - "Trickle Down."
Upon seeing his blunder in loss of tax revenues, in 1984, he decided to tax social security to make up some of the lossed tax revenue.
He wanted to end welfare and Medicare, saying, "Let's send those bums back to work (meaning blacks)." Americans (many) were like, hell yeah, I'm cool with that!!!
But, "Reaganomics" never worked. It didn't work then, and it doesn't work today. Oh, I forgot to mention how much he hated Unions and dismantled many of them.
His biggest achievement was separating the races and convincing poor people that the rich needed more. End of story?