Reaganomics The Economic Earthquake that Shook America

Margaret Thatcher, Ronald Reagan and Donald Trump were all elected on promises of major tax cuts for top earners, arguing that freeing up money for the ... increased wealth inequality · an increase in corporate bankruptcies · inadequate tax cuts · increased government spending ... Many things that Ronald Reagan did were very important for this country, but Reaganomics had some major problems. For one thing, it created a ... Reagan and his allies embraced supply-side economics, predicting that cutting taxes on the wealthy would enable them to create jobs, thereby ... The 1980s economic policies put in place by President Ronald Reagan are referred to as Reaganomics. This prioritized raising military spending, lowering taxes, ... 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 ... ... economy was simply booming.” “People without a high school diploma ... Reaganomics also hurt the middle class by crushing unions, he says. 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 ... First, 20 million jobs were created, and the areas of finance and technology expanded over the 8 years thanks to greater economic flexibility. In January 1981 Ronald Reagan took office as President after defeating the incumbent Jimmy Carter the previous November ... economy of overburdensome ...