22 Jul 2023 6:42 pm
It remains unclear whether Bidenomics will define the political landscape the way Reaganomics did. Under Reaganomics, the sharp drop in tax rates supercharged inequality to levels that hadn’t been seen in 50 years, giving the rich more power to rewrite the economic rules.
Under Biden, the Inflation Reduction Act is transforming American industry, but it’s uncertain whether the IRA can create a self-sustaining momentum for a progressive agenda.
It is also always easier to tear down than to build up. Reaganomics was about destroying the state’s ability to act and turning that power over to corporations and the wealthy.
The question now is: Will Bidenomics help us build something new in its place?
https://www.thenation.com/article/econo ... aganomics/
Under Biden, the Inflation Reduction Act is transforming American industry, but it’s uncertain whether the IRA can create a self-sustaining momentum for a progressive agenda.
It is also always easier to tear down than to build up. Reaganomics was about destroying the state’s ability to act and turning that power over to corporations and the wealthy.
The question now is: Will Bidenomics help us build something new in its place?
https://www.thenation.com/article/econo ... aganomics/