A Student's Reading Of The Politics Of Rich And Poor



Often times, a political analyst/scientist will write a book on the
politics and economics of the time. This writer may also create a work which
emanates views contrary to the opinion of the governing body. Rarely, however,
does one find an analyst who will clearly undermine his own political party by,
in effect, saying, "I told you so." Kevin Phillips, editor-publisher of The
American Political Report, columnist for the Los Angeles Times, and chief
political analyst for the 1968 Republican presidential campaign, describes in
his book, The Politics of Rich and Poor: Wealth and the American Electorate in
the Regan Aftermath, the consequences of the decisions made by the ...

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His views, though somewhat repetitive
in the text, strike the reader with astonishment, especially when considering
Phillips' Republican party affiliation.
With his thesis in mind, Phillips discusses three major factors that
escalate and at the same time submerge the state of the economy in America.
These factors include: the sudden shift in tax rates, the diminishing "global
wealth" of America, and the inability of the government under Regan to satisfy
a "happy medium" for economic growth. All of these factors support Phillips'
theme and prove his argument of an up and down cycle of economic stability.
From 1921 to 1925 the top one percent of the population's tax rate was
gradually decreased from the marginally high rate of seventy-three percent all
the way to just twenty-five percent. Over four years this elite group of
Americans received a forty-eight percent reduction in taxes. This decrease
opened the door for the super-rich Americans to capitalize and ...

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A Student's Reading Of The Politics Of Rich And Poor. (2008, August 15). Retrieved January 26, 2020, from http://www.essayworld.com/essays/A-Students-Reading-Politics-Rich-Poor/88323
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PAPER DETAILS
Added: 8/15/2008 12:56:33 AM
Category: English
Type: Premium Paper
Words: 991
Pages: 4

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