Studies show that by 1992 the lowest quintile, or one-fifth of the population, had eroded considerably during the tenure of Presidents Reagan and Bush.

Question

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During the presidencies of Ronald Reagan and George H.W. Bush, income inequality in the United States increased, with the wealth gap widening significantly. This period saw economic policies that favored deregulation, tax cuts primarily benefiting the wealthy, and reductions in social welfare spending, contributing to the erosion of economic standing for the lowest quintile of the population.

Studies Show That by 1992 the Lowest Quintile, or One-Fifth