The key point in the above link...
On why Reaganomic's worked:
All this worked because President Reagan understood that to make things better we have to work. As the Gipper reminded us every time he spoke, the real heroes in America are the workers, the factory workers, the miners, the waitresses, the cabbies, the teachers and the homemakers who go to work every day to build a better life for their families. He believed that work, not government, was the answer to our problems. His genius was communicating to people that he respected them, that he understood their problems, and that he believed in them.