Last week, Jacobin and the New York Times published reviews of Matt Tyrnauer’s new documentary The Reagans. Both focus on a key factor enabling the Reagan Revolution, the capitulation and in many cases active complicity of the Democratic opposition. Neither, however, mentions what is perhaps the most revealing and consequential instance, the Tax Reform Act of 1986 which radically cut rates on corporations and upper income individuals.
It has by now been mostly forgotten that “the real hero of tax reform,” according to the Washington Post, was a Democrat, New Jersey Senator Bill Bradley.
Dollar Bill and Neoliberalism 1.0
Widely seen as representing the liberal center of the party and a likely nominee for president, it should now be apparent that Bradley was not at at all a liberal. Rather, he and other centrist Democrats of the time referred to themselves as *neo* liberals committed, like Reagan, to undermining the social welfare programs of the New Deal and Great Society.