https://hartmannreport.com/p/its-time-to-roll-back-reagans-middle
"Back in 1981, Reagan passed the biggest tax cut for billionaires and giant corporations in the history of the world, lowering the top rate from around 74% to around 28% and shoveling, in today’s money, trillions to the top 1%.

The result was an explosion in the budget deficit [...], so Reagan decided [...] tax increases [...] he put it almost entirely on the shoulders of working people, unemployed people and those receiving Social Security."