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The primary feature of Reaganomics is that you probably know what's good for you better than some politician does. So you should spend your own money for things that YOU think you need, rather than letting the government take your money in taxes and spend it on whatever THEY think you ought to have.
Because this lets you keep your own money and prevents politicians from raising taxes (which would allow politicians to spend money on themselves and their friends), most politicians disapprove of Reaganomics, and are willing to tell you any lie to make you disapprove of it, too.
Ronald Reagan believed that by lowering taxes, he could increase government revenue. History proved him wrong on that point. He also believed that making the rich even richer would somehow benefit everyone, and history proved him wrong on that point, too.
Wiki User
∙ 10y ago
Wiki User
∙ 14y agoReagnomics redefined the way we look at the government and its policies today. We learned a lot about economic policies. It made business easier and increase supply and demand.
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Which was not an economic issue associated with Reaganomics?
Increased inflatation
What term did historians apply to Reagans efforts on the economic front?
The term was Reaganomics. :)
What was the intention of the reaganomics policies?
These were not the intentions of Reaganomics (and the majority of these are fiction-answers):take money from the rich via taxes to give to the poor;increase the National Debt;choke off economic growth;create historically high and persistent unemployment;raise minimum wage, promote hiring of unskilled workers, and give everyone a bar of gold from the US Federal Reserve:The 3 answers in bold are definitely discussed about Reaganomics.
What did Reaganomics's do?
Reaganomics is the program of austerity put in place by the Economic Recovery Tax Act of 1981. It included a 20-percent cut in the top income tax rate (from 70 to 50 percent) and drastic cuts in non-defense government spending. Reaganomics caused an 18-month contraction of the economy and the highest U3 unemployment rate, 10.8 percent, ever recorded since the government started calculating it. Reaganomics didn't work; in 1982 the government enacted a law called the Tax Equity and Fiscal Responsibility Act that repealed a lot of the Reaganomics reforms. They did not, however, repeal the tax cuts, and they should have. The selling point of tax cuts is that by cutting taxes on rich people they will create jobs and new products and bring more revenue into the government than you would have had at the old tax rates. This selling point ignores something that is crucial to destroying it: no businessman creates a job unless he has work for that person to do.
What were Ronald Reagan's Economic policies?
Ronald Reagan's economic policies were labeled "Reaganomics." Reaganomics is the idea of controlled government spending and the lowering of taxes of people of all economic brackets to cause the multiplier effect and generate economic activity.
How can you use reaganomics in a sentence?
Some have criticized elements of Reaganomics on the basis of equity.
What term was given to reagans economic program by the media?
Reaganomics
What did reaganomics emphasize?
Reaganomics emphasized:reduce the federal income tax and capital gains tax
What is wrong with our economy?
Reaganomics.
What did reaganomics lead to?
Reaganomics led to decreased inflation, decreased interest rates, and increased budget deficits.
Was deregulation of select industries part of reaganomics?
no
Was increased military spending part of reaganomics?
no
Which of these was not an intention of the Reaganomics policies?
to increase regulation
President Reagan's economic policy was known as?
Reaganomics was the name given to Reagan's idea that revenue would be increased if taxes were lowered so that people had more more to spend, thus stimulating the economy.
Was increased funding for social programs part of the reaganomics?
no
Reagan's economic program was called by the media?
reaganomics
What is another term for Reaganomics?
Trickle down theory.
