Ronald Reagan The Architect of Economic Catastrophe

Here's how Reagan's tax cuts in the 1980s favored corporations and the wealthy, setting the stage for 'trickle-down economics' as we know it ... When Ronald Reagan stepped into the Oval Office in 1981, the United States faced a challenging economic landscape. High inflation, escalating unemployment, ... When President Reagan took office in 1981 the top marginal personal income tax rate was 70 percent. We have retreated a bit from the low tax rates of ... or were hurt by the policies. Page 227. Chapter 21 +. Long-Term Growth. When Ronald Reagan became president in 1981, the American economy was in the midst of a ... 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. Reagan's welfare reforms just made the poor poorer. When a three-year recession hit in 1980, six million more Americans fell into poverty. By ... He entered office in 1981 insisting that government deficits were too high, that taxes had to be cut, that spending had to shrink. His inaugural ... President, I thank you, and your country thanks you.” - President Ronald Reagan at the dedication ceremony for the Carter Presidential Center in ... President Ronald Reagan's economic plan, known as 'Reaganomics,' was an attempt to stimulate the inert American economy of the 1970s through supply-side ... Although his other policies hurt workers and increased inequality, Ronald Reagan was persuaded that an economy where the largest, most ...