Reaganomics The Path to Economic Decline, Paved with Good Intentions

This was all based on the failed theory of “trickle-down” economics. The idea that with less paid in taxes, the extra money would be spent on ... In the depths of the 1981-1982 recession, Americans were far more displeased with their president and his policies than were their ... The result has been unprecedented government debt. Reagan has tripled the Gross Federal Debt, from $900 billion to $2.7 trillion. Ford and ... increased wealth inequality · an increase in corporate bankruptcies · inadequate tax cuts · increased government spending ... But Volcker's policies paid off in the long run. By early 1983 the economy had begun to recover, and by the end of that year unemployment and inflation were ... Ronald Reagan saw that reform might reduce government intervention in the economy and further lower tax rates. He convinced the Republicans to support ... By the summer of 1980, most Americans were deeply concerned about the economy and world events. Stagflation had taken its toll on the economy and ... 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 ... Reagan's economic policies highlighted his long-standing dislike of high federal income taxes. Reagan embraced the theory of "supply side economics," feeling ... 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- ...