The 1980’s marked a time of change. There was technological advances, the pop culture idea changed and many political changes. Change is what made the 1980’s so important. The 1980’s was a start of a new era. Some of the changes involved music like Michael Jackson’s Thriller and a new sound of rock and roll like Poison and Cindy Lauper. During the 1980’s there was unfortunately the assignation of John Lennon and two attempt assassinations including the Pope and President Ronald Reagan.
In 1981 Ronald Reagan was our fortieth president of the United States. Before Reagan went into his presidency he was a well known actor. Reagan won the election in 1981, and he was the oldest president to be elected at the age of sixty nine. Two months after becoming our president there was and assassination attempt by John W. Hinkley Jr. who shot Reagan. Reagan survived and was to be president till 1989. Reagan was named the great communicator because he was a great public speaker and gave citizens hope.( Rosenberg) Reagan developed a system of economic plans called Reaganomics. Even today he is in history as one of our favorite presidents. During the years 1981-1989 Ronald Reagan, once an actor was our 40th president. During his presidency he created a economic plan called Reaganomics. The plan was to have a widespread tax cuts among the nation. Also it was suppose to limit social spending and increase military spending, and the deregulation of domestic markets. The four points or goals of this economic plan was to reduce the increase of government spending, reduce the marginal tax rates, reduce regulation and finally to reduce inflation by controlling money supply growth.(Niskanen) Three major legislations that came from Reaganomics to achieve these goals were Economic Recovery Tax Act of 1981, Tax Equity and Fiscal Responsibility Act of 1982, and Tax Reform Act of 1986. (InvestorWords) The Economic Recovery Tax Act or ERTA was a law that reduced income tax rates and provided...