Reaganomics A Toxic Brew that Poisoned the Economy

Free trade measures during the mid-1990s also constituted a tax-cut stimulus effect. Importantly, the Republican Congress forced Clinton into ... 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 ... When President Reagan took office in 1981 the top marginal personal income tax rate was 70 percent. We have retreated a bit from the low tax rates of ... Reagan's primary goal upon taking office was to stimulate the sagging economy while simultaneously cutting both government programs and taxes. His economic ... The Reagan administration slashed the priime interest rate by more than half, from an unprecedented 21.5% in January 1981 to 10% in August 1988. This ... Reagan continued to lower corporate taxes, which would ultimately hurt his citizens greatly. An example of this was Social Security cuts. Over three hundred ... Almost every issue in America, from political to economic, from social to financial, can be traced back to Ronald Reagan. 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 ... Both President Herbert Hoover's stimulus efforts during the Great Depression and President Ronald Reagan's use of income tax cuts were described as “trickle- ... 13, 1981, Ronald Reagan signed the Economy Recovery Tax Act of 1981 into law. A key feature of the law was a phased-in 23-percent cut in ...