1980s Reagonomics was ridiculed by the Left and the media (but I repeat myself) as "trickle down" economics. Ronald Reagan's theory, formally known as "supply side economics," held that marginal tax rate reductions on the wealthy would increase their productivity and income, incentivize them to grow their businesses and add jobs and so benefit the less wealthy and working poor. As we know, the critics were wrong in everything except their nomenclature--wealth, income and jobs did "trickle down" from the wealthy to everyone else and ignited an economic and stock market boom that lasted for decades.
Read what investment manager Thomas E. Nugent has to say about President Obama's complete reversal of the policies that Reagan championed and implemented. We'll know soon enough whether Obama's policies lead to economic prosperity like Reagan's did.
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