Starving the Beast: Ronald Reagan and the Tax Cut Revolution

Name: Starving the Beast: Ronald Reagan and the Tax Cut Revolution
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Book Synopsis: Since the Reagan Revolution of the early 1980s, Republicans have consistently championed tax cuts for individuals and businesses, regardless of whether the economy is booming or in recession or whether the federal budget is in surplus or deficit. In Starving the Beast, sociologist Monica Prasad uncovers the origins of the GOP’s relentless focus on tax cuts and shows how this is a uniquely American phenomenon. Drawing on never-before seen archival documents, Prasad traces the history of the 1981 tax cut—the famous “supply side” tax cut, which became the cornerstone for the next several decades of Republican domestic economic policy. She demonstrates that the main impetus behind this tax cut was not business group pressure, racial animus, or a belief that tax cuts would pay for themselves. Rather, the tax cut emerged because in America--unlike in the rest of the advanced industrial world—progressive policies are not embedded within a larger political economy that is favorable to business. Since the end of World War II, many European nations have combined strong social protections with policies to stimulate economic growth such as lower taxes on capital and less regulation on businesses than in the United State. Meanwhile, the United States emerged from World War II with high taxes on capital and some of the strongest regulations on business in the advanced industrial world. This adversarial political economy could not survive the economic crisis of the 1970s.Starving the Beast suggests that taking inspiration from the European model of progressive policies embedded in market-promoting political economy could serve to build an American economy that works better for all.

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Discover the untold story behind the Reagan Revolution and the driving force behind the GOP's unrelenting focus on tax cuts with "Starving the Beast: Ronald Reagan and the Tax Cut Revolution". This groundbreaking book by sociologist Monica Prasad reveals the uniquely American origins of the Republican Party's unwavering commitment to tax cuts, regardless of economic conditions or budget deficits.

Unearth the secrets of the famous 1981 tax cut that shaped Republican domestic economic policy for decades to come. Through exclusive access to never-before-seen archival documents, Prasad takes readers on a journey through history, shedding light on the true motives behind the "supply side" tax cut. Contrary to popular belief, it wasn't driven by business group pressure, racial bias, or the misconception that tax cuts pay for themselves.

Delve into the heart of America's political economy and discover why progressive policies haven't been deeply embedded in it like in the rest of the advanced industrial world. While many European nations combine strong social protections with market-friendly policies like lower taxes on capital and less business regulation, the United States took a different approach after World War II. With high taxes on capital and stringent regulations, our nation's economy faced a crisis in the 1970s.

Unlock the potential for an American economy that works better for everyone by exploring the progressive policies embedded in the European market-promoting political economy. In "Starving the Beast," Prasad suggests that taking inspiration from this model could revolutionize our economic landscape. Don't miss your chance to gain insight into the history and future of American economic policy. Get your hands on "Starving the Beast: Ronald Reagan and the Tax Cut Revolution" today!

Explore the fascinating world of tax cuts and economic policy now!

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