The huge tax breaks for the wealthy that occurred at that time were predicated on the recipients of those breaks "trickling down" a substantial portion to the rest of the economy. The exact opposite actually occurred, with the rate of capital concentration ever upwards to a tiny tip-top of the pyramid occurring at an unprecedented rate today.

Revert to the old tax tables and legislate to prevent the hoarders from shielding/off-shoring capital. Penalize violations with confiscation.

Yes, as it happens this would cost me a not-insignificant amount of money. But it's the right thing to do.

Note: it was also during the Reagan years that import regulations were relaxed, allowing so much of our manufacturing industry to be (probably permanently) exported to China and other countries with slave-labor-tier wage costs. Another dismal, self-destructive legacy of those years...