What impact has Reagan and George W Bush had on the Democratic Party?

It seems that after Reagan, Democrats were afraid to challenge his theories of supply side economics and taxcuts became the accepted way to grow the economy. For a short while, Democrats thought the voters would see the huge deficits Reagan was running up and they would revolt and kick him out. It hever happened. So taxcuts and supply-side were accepted as conventional wisdom in Washington.

George W Bush put it to practice in spades. He virtually destroyed the taxbase of our country and we are still trying to recover from that debacle. Republicans are still preaching the same old dogma, taxcuts will bring in more money to the Treasury and create more jobs. Many Democrats seem to believe similarly. Now, at this critical time in our country's history, Democrats seem unable to fight against the false philosophy of supply-side and taxcuts, for fear of losing their asses in the next election.

History already shows the damage done by extreme taxcuts and supply side economics but somehow, we are unable to escape its grasp...

who were on the Hill during Reagan and Bush Terms and see
who drank that cool-aid by voting in their destructive plans.

It was during this period that the Democratic Party became
the "Me Too" party on Tax cuts. I am sorry but I cannot
believe they were totally ignorant of the fact they were
continuously depriving the Government of revenues. They
either drank the cool-aid or something is wrong with their
brain.

less significant.

I can't believe right wingers could answer this question without hemming and hawing...

They need to show that current tax rates result in the wealthy paying a lower percentage of their income than the middle and upper-middle classes.

But this doesn't help persuade people that a progressive income tax is fair. That is a more sophisticated argument, made more complicated by the fact that income is not exactly the same as wealth.

on Tax cuts. It is much easier and more fun to cut
taxes than to raise them. Also we had the rise of
Conservadems--DLC whose policies are very similar
to Republicans--they are just kinder and gentler.
(Pro-Business and the same constituency--Rich down
to about 60K yearly.