Did the rich get richer under Reagan? (arguments against the Economic Recovery Tax Act of 1981 debunked)(excerpted from Lawrence B. Lindsey's 'The Growth Experiment: How the New Tax Policy is Transforming the U.S. Economy')

Politicians opposed to supply-side economics have disparaged the Economic Recovery Tax Act of 1981, introduced by then-President Ronald Reagan, as a "tax cut for the rich." In an except from his 1990 book, "The Growth Experiment: How the New Tax Policy Is Transforming the U.S. Economy," Lawrence B. Lindsey debunks the arguments of ERTA's critics.

We often hear that "under Ronald Reagan the rich got richer and the poor got poorer," and that the 1981 tax cuts were a big windfall for the rich and only for the rich. it would seem to be common knowledge. But what everyone…