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Reaganomics

Reaganomics Your Name November 3, 2009 Axia College of the University of Phoenix. Reaganomics:

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Reaganomics

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  1. Reaganomics Your Name November 3, 2009 Axia College of the University of Phoenix

  2. Reaganomics: Decade of Corporate Greed

  3. Introduction • Reaganomics - holds that reduced income tax rates increase GDP growth. • The Left Says:"The 1980s were "a time of Reaganomics, burgeoning yuppies, and the Decade of Greed."(Lauer, 2003) • Conservatives: • “It is odd that economic growth when a conservative is president is called "greed," while economic growth when a liberal is president is called "prosperity."

  4. Social Composition of the Decade • Increased homeless among the poor. • Increased crime rates. • Reduced low-income housing • Put low- skilled workers out of jobs. • Deprived the needy of medical care. • Increased hunger in urban and rural slums.

  5. Social Composition of the Decade • 18 million new jobs created. • Periods of full employment. • 70 % increase in Social welfare outlays.

  6. Economic Composition of the Decade • Corporate Contributions to charities -10% increase • Inflation - Outstripped by 6% • Fueled the longest economic expansion. • Low inflation and interest rates. • 96 months of continuous economic growth.

  7. Economic Composition of the Decade • Work force tax revenues: average of $20 billion/year increase. • Taxpayers: • Top 10 % income bracket - paid 55 % • 90 % of the taxpayers – paid 45 %. • less than $20,000 a year earner • 1980 - paid nearly 20 percent% of all taxes. • 1988 – only paid 7% of all taxes.

  8. Political Composition of the Decade • Congress over-spending from the tax collected. • Budget proposal not followed. • Federal government spent $590 billion

  9. Effect on the 80’s Political Climate • Left-wingers always have despised Mr. Reagan. • Reagan received full measure from the people. • Political division • People concept was politically influenced.

  10. Conclusion • Reaganomics received both positive and negative feedback. • Did Reaganomics did not stint on social spending. No! • Reaganomics increased the popularity worldwide . • Applied not only in US but in some other countries too.

  11. References • A BUM RAP. Richmond Times http://proquest.umi.com/pqdlink?did=61601 2221&sid=1&Fmt=3&clientId=2606&RQT =309&VName=PQD • Facta say Reaganomics workedTimesRetreavedPicayune:  http://proquest.umi.co m/pqdlink?did=70233825&sid=4&Fmt=3& clientId=2606&RQT=309&VName=PQD • Lauer, M. ( December 31,2003). NBC Show Today as cited by Media Research Center'sCyberAlert http://www.mediaresearch.org/cyberalerts/2 003/cyb20031231.asp

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