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What was the economic theory of Reaganomics that emphasized cutting taxes and government spending in order to stimulate investment productivity and economic growth by private enterprise?
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∙ 14y ago
Supply side economics
Wiki User
∙ 14y ago
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How does the Government encourage an increased level of productivity by doing what?
How does the government encourage an increased level of productivity
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.
Is America a private enterprise?
No, the United States of America is a government, or public enterprise.
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Reaganomics didn't work; in 1982 the government enacted a law called the Tax Equity and Fiscal Responsibility Act that repealed a lot of the Reaganomics reforms.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.
Why has the free enterprise system been modified to include some government intervention?
It is a Free Enterprise System, but has some slight government involvement.
What was the main idea of reaganomics?
The main idea of Reaganomics was to promote economic growth by reducing government intervention in the economy, cutting taxes, and deregulating industries. It aimed to stimulate investment, boost productivity, and create jobs by increasing incentives for businesses and individuals to invest and spend.
What was the name for Reagan's plan for tax and spending cuts?
Reagan's plan for tax and spending cuts was called Reaganomics, which aimed to stimulate economic growth through reducing government regulation, lowering tax rates, and cutting government spending.
How does the Government encourage an increased level of productivity by doing what?
How does the government encourage an increased level of productivity
An economic policy that advocated a reduction in government spending and cuts in personal income taxes was called?
Reaganomics
What was emphasized during the golden age of Athens?
government
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.
Is America a private enterprise?
No, the United States of America is a government, or public enterprise.
What did Reaganomics did?
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 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.
Why has the free enterprise system been modified to include some government intervention?
It is a Free Enterprise System, but has some slight government involvement.
Keynes emphasized that income was determined by what?
Comsumption, investment and government spending
Keynes emphasized that income was determined by which of these?
consumption, investment, and government spending
