Reaganomics A Twisted Experiment that Damaged the Economy

increased wealth inequality · an increase in corporate bankruptcies · inadequate tax cuts · increased government spending ... The Reagan administration advocated supply-side economics, arguing that tax cuts and reduced government spending would increase investment by ... Between the beginning and the end of the Reagan presidency, the annual deficit almost tripled. So did the gross national debt -- from $995 billion to $2.9 ... He got his tax overhaul and the top marginal tax rate plunged to 50%. By the time he left office in 1988 it was down to 28%. It has not gotten ... 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 ... It lead to destroyed businesses, families and lives. Later in the 1980s the reaganoids endorsed the conversion and looting of pension funds. Reagan expanded the Carter administration's efforts to decontrol and deregulate the economy. Congress deregulated the banking and natural gas industries and ... Did the amount of taxes extracted from the American people by the federal government go up or down during the Reagan years? The facts are that federal tax ... The Reaganomics assisted the rich, but hurt the poor. These tax cuts would raise wealth among the rich and then would “trickle down” to all Americans. The ... tax. Both during his campaign and after taking office, President Ronald Reagan stated ... way in the economy. This level of military expenditure threatens ...