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Mar 8, 2024 · Key Takeaways. Reaganomics refers to the economic policies instituted by former President Ronald Reagan. President Reagan instituted tax cuts, decreased social spending, increased military...
- Will Kenton
Explore Reagan's economic policy, emphasizing lower taxes, deregulation, and free-market capitalism. Discover the impact on U.S. growth and prosperity.
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President Reagan’s supply-side economic policies, often called Reaganomics, set out to grow the economy by cutting taxes and deregulating some industries. Supply-side economics depended on the idea that corporations and wealthy individuals would reinvest the money they saved by paying lower taxes to build businesses, create jobs, boost ...
May 29, 2022 · Reagan cut the tax rate again, to 38.5% this time, in 1987—growth remained similar at 3.5%, and unemployment fell to 5.7%. Corporate tax rates were cut from 46% to 40% in 1987, but the effect of this break was unclear. Additionally, the tax treatment of many new investments changed. In 1988, Reagan cut taxes again to 28%.
- Kimberly Amadeo
Ronald Reagan’s economic policies are based on supply-side economics, which is a macroeconomic theory that states economic growth can be created by reduced taxes and lower regulation. Reagan believed a tax cut would ultimately generate more revenue for the government.
His economic policies, called Reaganomics by the press, were based on a theory called supply-side economics which had recently gained popularity among the New Right. It’s important to note that many economists were skeptical about supply-side economics.
Jan 23, 2015 · Purdue Global shares the story of US economic history from 1800s to today. Immerse yourself in the events timeline of our economy.
