The Devastating Impact of Reagan's Budget Cuts

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 claimed an undue tax burden, excessive government regulation, and massive social spending programs hampered growth. Reagan proposed a phased 30% tax cut for ... increased wealth inequality · an increase in corporate bankruptcies · inadequate tax cuts · increased government spending ... Forty-two years ago, Ronald Reagan launched America into a great social, economic, and political experiment. Reaganomics did ignite one of the longest and strongest periods of economic growth in the US. The result of tax cuts depended on how fast the economy was ... Income inequality increased. The rate of poverty at the end of Reagan's term was the same as in 1980. Cutbacks in income transfers during the Reagan years ... Reagan's economic policies are called Reaganomics. these policies are based on the theory of supply-side economics which says tax cuts encourage economic ... First, 20 million jobs were created, and the areas of finance and technology expanded over the 8 years thanks to greater economic flexibility. John Dickerson discusses Ronald Reagan's policies and explains how those policies affected the government and economy. Critics however call Reaganomics Voodoo economics because it was unclear if ... This all sounded great, but in reality did not truly work for a majority of ...