[Verse 1] Back in forty-eight prosperity was shared around Middle class was growing strong, wages climbing off the ground Then came the eighties with a different kind of plan Supply-side economics said let's help the wealthy man [Chorus] Cut the taxes, watch it trickle down they say ERTA eighty-one, TRA eighty-six paved the way Lower rates but broader base, that's the formula they chose Deregulate and liberate, see how the free market grows Incentives, investment, capital formation These three words changed the economic foundation [Verse 2] Before these changes unions had a mighty voice Collective bargaining gave workers plenty choice But symbolic shifts and institutional decline Left labor power weakened, crossed that dividing line [Chorus] Cut the taxes, watch it trickle down they say ERTA eighty-one, TRA eighty-six paved the way Lower rates but broader base, that's the formula they chose Deregulate and liberate, see how the free market grows Incentives, investment, capital formation These three words changed the economic foundation [Bridge] Finance got deregulated, sector by sector fell Corporate governance changing, shareholders did well From broad-based prosperity to concentrated wealth The American economy transformed itself [Verse 3] Supply-siders argued that the rich would reinvest Give them more incentives and the country would be blessed Capital formation through the wealthy would flow But did prosperity trickle down? The data tells us no [Final Chorus] Cut the taxes, watch it trickle down they say ERTA eighty-one, TRA eighty-six paved the way Lower rates but broader base, that's the formula they chose Deregulate and liberate, see how the free market grows Incentives, investment, capital formation These three words changed our nation [Outro] From forty-eight to now we've seen the rise and fall Of broad prosperity that once included all
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