[your name here]

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."

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.

Social Composition of the Decade

  

18 million new jobs created.

Periods of full employment. 70 % increase in Social welfare outlays.

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.

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.

Political Composition of the Decade

.   

Congress over-spending from the tax collected.

Budget proposal not followed. Federal government spent $590 billion

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.

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.

References

A BUM RAP. Richmond Times: http://proquest.umi.com/pqdlink?did=616012221&sid=1 &Fmt=3&clientId=2606&RQT=309&VName=PQD Facta say Reaganomics worked. Times – Picayune: http://proquest.umi.com/pqdlink?did=7023382 5&sid=4&Fmt=3&clientId=2606&RQT=309&VName=P QD Lauer, M. ( December 31,2003). NBC Show Today as cited by Media Research Center's CyberAlert: http://www.mediaresearch.org/cyberalerts/2003/cyb20031 231.asp