Reagan's Economic Policies A Pandora's Box of Economic Woes

Reagan's approval ratings dropped as deficits increased, interest rates rose as high as 20 percent, unemployment reached 10 percent, even higher for minorities, ... Reagan and his allies embraced supply-side economics, predicting that cutting taxes on the wealthy would enable them to create jobs, thereby ... President Ronald Reagan's economic plan, known as 'Reaganomics,' was an attempt to stimulate the inert American economy of the 1970s through supply-side ... It lead to destroyed businesses, families and lives. Later in the 1980s the reaganoids endorsed the conversion and looting of pension funds. Reagan's economic policies highlighted his long-standing dislike of high federal income taxes. Reagan embraced the theory of "supply side economics," feeling ... 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 ... 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's goals are to: (1) promote cost containment and quality control through competition, and (2) shift the major elements of program ... 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 ... He claimed an undue tax burden, excessive government regulation, and massive social spending programs hampered growth. Reagan proposed a phased 30% tax cut for ...