A third factor in FDR’s-New Deal was the progressive tax structure that had been in place since 1913. Progressive taxation was based on a very simple concept: the more income earned, the higher the tax rate! The progressive tax structure included 15 income tax brackets, which gradually increased tax rates (like a ladder) from a low rate of 14% to a top rate of 70%. This method produced a “blended rate”, not a fixed rate, or a flat rate!
Reagan promised his tax cuts would increase U.S. Government revenues through increased economic growth. However, over the past thirty years, the U.S. National Debt increased 1500% from $900 billion in 1980, to $14 trillion today! Furthermore, trillions of dollars were borrowed from the FICA-Trust Fund to offset huge annual deficits and avoid raising taxes! Boomers are beginning to retire, and the FICA-Trust Fund IOU's are coming due. So conservatives want to cut Social Security benefits, to avoid the tax increases required to pay "Social Security Obligations"!