Why was Rea­gan suc­cess­ful?

The Week (US) - - News 11 -

Bi­par­ti­san­ship. Rea­gan ac­tively courted Democrats, who con­trolled the House of Rep­re­sen­ta­tives, by em­pha­siz­ing shared goals, such as fewer loop­holes for the wealthy, and in­creas­ing the stan­dard de­duc­tion to ben­e­fit low-in­come fam­i­lies. Rea­gan also agreed to in­crease the cap­i­tal gains tax rate from 20 per­cent to 28 per­cent, a key com­pro­mise. The pres­i­dent’s 60 per­cent pub­lic ap­proval rat­ing un­doubt­edly helped as well. Nev­er­the­less, the bill faced fierce push­back from in­dus­try lob­by­ists seek­ing to pro­tect their fa­vorite tax breaks. The leg­is­la­tion heav­ily tar­geted real es­tate tax shel­ters, for ex­am­ple, which en­raged New York de­vel­oper Don­ald Trump, who told Congress in 1991 that Rea­gan’s tax re­forms had been “an ab­so­lute catas­tro­phe for the coun­try.”

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