Reaganomics A Costly Experiment that Damaged the Economy

Reagan and his advisers, particularly Baker, made the economy their first priority from the outset. They were helped in this when Iran released the Americans ... Reagan's approval ratings dropped as deficits increased, interest rates rose as high as 20 percent, unemployment reached 10 percent, even higher for minorities, ... Here's how Reagan's tax cuts in the 1980s favored corporations and the wealthy, setting the stage for 'trickle-down economics' as we know it ... Reagan's economic legacy is mixed. On the one hand, tax reduction and a tightening of interest rates by the Federal Reserve led to a record period of peacetime ... Reaganomics significantly stimulated economic growth, reduced unemployment, and curbed inflation in the US during the 1980s. The Reagan Administration began the destruction of America which has continued right up until today. The administration of Donald Trump has ... increased wealth inequality · an increase in corporate bankruptcies · inadequate tax cuts · increased government spending ... The federal debt was about half what it is today, measured as a share of the economy. The Reagan tax cut was huge. The top rate fell from 70 ... Income inequality increased. The rate of poverty at the end of Reagan's term was the same as in 1980. Cutbacks in income transfers during the Reagan years ... the Reagan administration. It ... "Earnings Mobility: Permanent Change or Transitory. Fluctuations?" Review of Economics and Smrisrics, 1982, in press.