Reagan's Economic Legacy A Tale of Missed Opportunities

Much is being written about Ronald Reagan's successes in economics, politics and foreign affairs. Just as important was how he responded to his failures. This chapter discusses the global impact of Reaganomics. The United States became a net importer during Ronald Reagan's first term as a president. The ... 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 ... 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 ... It lead to destroyed businesses, families and lives. Later in the 1980s the reaganoids endorsed the conversion and looting of pension funds. 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 ... 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's economic legacy is mixed. On the one hand, tax reduction and a tightening of interest rates by the Federal Reserve led to a record period of peacetime ... 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 ... 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 ...