What was Reaganomics?

Reaganomics was the term given to the economic policies under the administration of President Ronald Reagan, who served as the 40th President, from 1981 to 1989.

The plan was to reduce tax rates, and thereby stimulate the economy out of recession.

The main thrust was cutting marginal income tax rates (particularly capital gains) and using targeted tax credits & accelerated depreciation (for purchases of business equipment. autos, etc.) to stimulate economic development, job creation, and tax revenue.

During Reagan's 8 years in office, tax revenue to the government more than doubled even as marginal tax rates were lowered, and many individuals with low incomes had their Federal income taxes completely eliminated.