This preview shows page 1. Sign up to view the full content.
Unformatted text preview: Decade of Corporate Decade Greed
By: Jose L. Gonzalez By: Jose L. Gonzalez Economic Effects of Reaganomics Economic Unemployment rates decreased New housing was up by an incredible amount. Smaller government meant less taxes for the people which helped stimulate the economy. The Left-wing Opposed Reagan because he listened to the people he lead instead of politicians. Use Reagan as a source of blame for economic problems since. The Left's efforts have now been to portray the Reagan era as the Decade of Greed Social Effects of Reaganomics Ronald Reagan lifted the spirits of the American people by caring about their needs. He moved the U.S. forward as a nation and not only as a government. Politics of Reaganomics Less control by the government More control by the American people Wanted a return to the freeenterprise principles that had been in favor before the Great Depression. Ultimately lead to a rise of some government spending and increased the U.S.’s deficits. Overall Tax Impact The Reagan administration overall led to a significant increase in public debt. Debt more than tripled from 900 billion dollars to 2.8 trillion dollars during Reagan's tenure. One of Reagan’s tax reforms hits middle class Americans the hardest by reducing their deductions and effectively raising their taxes. This shifted from taxing the rich and less of the poor to now taxing the poor and not taxing rich investors. ...
View Full Document
This note was uploaded on 05/21/2010 for the course HIST his135 taught by Professor Richalmond during the Spring '09 term at University of Phoenix.
- Spring '09