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on 18 advanced economies shows that major tax cuts for the rich over the past 50 years have pushed up inequality, but have had no significant effects on economic growth or unemployment.” Applied to the urban housing crisis, their findings explain why up-zoning ordinances do not increase the supply of low-priced housing or reduce residential segregation.   
These frequent justifications for up-zoning are not, however, accidental mistakes; they are deliberate subterfuges. Their purpose is to persuade well-meaning but naïve Angelenos to support real estate speculation as a cure to homelessness and residential racism, the exact opposite of its real-world outcomes. 
Furthermore, we now know the long-term consequences of Reaganomics. Based on a review of multiple studies on economic inequality, Charles Hugh Smith reports that Reaganomics has resulted in extensive gaps in income and wealth. He wrote, “ ....

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