week 7 checkpoint Reagan's economics

week 7 checkpoint Reagan's economics - economy businesses...

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President Regan’s conservative politics stimulated the economy of the United States, during and for many years after his presidency. There were three major points of Reagan’s conservative policies that stimulated the economy; cut taxes, increase defense spending, and to decrease spending in social programs. These conservative policies became known as “Reaganomics.” During President Reagan’s campaign he made a promise to cut taxes if elected into office. Many democrats voted more conservative, and became known as Reagan Democrats. They became an important part of his conservative policies that were approved. Reagan had a philosophy that if the federal government would decrease the taxes on the rich, it would create more jobs. The same philosophy assumed that increased federal taxes would cause the rich to cut back on hiring or retaining extra employees. The almost everyone was provided with the enjoyment and privilege of tax reduction, not just the wealthy. The new tax privilege stimulated
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Unformatted text preview: economy; businesses expanded. People started to buy more, as their spendable income increased. These policies were so effective that twenty years later, America was still reaping the benefits. Another one of Reagan’s policies led to economic prosperity; he increased military spending. This policy not only created a large amount of jobs, but it contributed to the bankruptcy of the Soviet Union. More jobs leads to more spending, and that helps the economy. There was also a decrease in governmental spending in social programs which led to a decreased governmental deficit. The conservative politics of President Reagan greatly helped America’s economy. He used tax cuts, increased military spending, and cutting social programs to help boost the economy. We are still reaping the benefits of some of these changes. Unfortunately other Presidents chose to change these proven politics which has led to a loss of economical benefits that this nation once experienced....
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This note was uploaded on 12/12/2010 for the course HIS 135 taught by Professor Runyon during the Spring '10 term at University of Phoenix.

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week 7 checkpoint Reagan's economics - economy businesses...

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