Reaganomics The Great Illusion that Shattered the Economy

The momentum generated in the late 1970s carried over into the Reagan Administration, thanks to a President who extolled the virtues of a free ... ... economy was simply booming.” “People without a high school diploma ... Reaganomics also hurt the middle class by crushing unions, he says. John Dickerson discusses Ronald Reagan's policies and explains how those policies affected the government and economy. It is true that growth increased drastically after the 1982 tax cut, reaching as high as 7.3% in 1984. However, as the Reagan-Bush, Sr. administrations went on ... But Reagan stuck to his guns, and the economy did fine. After shrinking 1.9 percent, after inflation, between 1981 and 1982, it grew by 4.5 percent in 1983 ... When Jimmy Carter handed over the presidency to Ronald Reagan, the double-digit inflation he had presided over for three years hurt the poor most of all. In January 1981 Ronald Reagan took office as President after defeating the incumbent Jimmy Carter the previous November ... economy of overburdensome ... 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 ... 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- ... 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 ...