Reagans Economics
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- Date Submitted: 05/02/2011 10:45 AM
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Reagan’s Economics
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Ronald Reagan’s political views were very conservative. His politics stimulated the economy in the US during and even after his presidency. His policies consisted of three main points. The first point was to raise the amount of spending the country did on defense. The second point was to lower the country’s spending in social programs. Finally, Reagan wanted to cut taxes. His conservative stance on politics eventually became known as Reaganomics. (Davidson, 2006) During his campaign for the Presidency he made a very strong promise to cut taxes, which resulted in his getting a lot of votes. This went over well with Democrats, who became a major factor in his policies being approved during his term as President. It was President Reagan’s theory that the government cut taxes for rich citizens, that it would create more employment opportunities for those blue collar workers. On the flip side his theory stated that if taxes were increased for rich citizens, they would cease hiring people and have to begin layoffs. In the long run it seemed Reagan had a pretty good idea because people all over were benefiting from a better economy. Business grew creating more jobs and Americans were spending more money as their incomes grew. Reagan’s policies were so effective that they were still proving to be useful years later. In keeping with his record of decision making, he started another policy that gave the military a bigger budget. Ultimately, this policy led to the Soviet Union going bankrupt and helped establish a great many jobs. I believe overall that Reaganomics had a profoundly positive effect on the United States and its economy.
References
Davidson, J. (Ed.). (2006). Nation of nations: A concise narrative of the American republic (4th
ed., Vol. 2). New York: McGraw-Hill.
HIS/135
Ronald Reagan’s political views were very conservative. His politics stimulated the economy in the US during and even after his presidency. His policies consisted of three main points. The first point was to raise the amount of spending the country did on defense. The second point was to lower the country’s spending in social programs. Finally, Reagan wanted to cut taxes. His conservative stance on politics eventually became known as Reaganomics. (Davidson, 2006) During his campaign for the Presidency he made a very strong promise to cut taxes, which resulted in his getting a lot of votes. This went over well with Democrats, who became a major factor in his policies being approved during his term as President. It was President Reagan’s theory that the government cut taxes for rich citizens, that it would create more employment opportunities for those blue collar workers. On the flip side his theory stated that if taxes were increased for rich citizens, they would cease hiring people and have to begin layoffs. In the long run it seemed Reagan had a pretty good idea because people all over were benefiting from a better economy. Business grew creating more jobs and Americans were spending more money as their incomes grew. Reagan’s policies were so effective that they were still proving to be useful years later. In keeping with his record of decision making, he started another policy that gave the military a bigger budget. Ultimately, this policy led to the Soviet Union going bankrupt and helped establish a great many jobs. I believe overall that Reaganomics had a profoundly positive effect on the United States and its economy.
References
Davidson, J. (Ed.). (2006). Nation of nations: A concise narrative of the American republic (4th
ed., Vol. 2). New York: McGraw-Hill.