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Ronald Reagan's economic policies, dubbed "Reaganomics" by opponents, included large tax cuts and were characterized as trickle-down economics.In this picture, he is outlining his plan for the Economic Recovery Tax Act of 1981 from the Oval Office in a televised address, July 1981.
These policies are characterized as supply-side economics, trickle-down economics, or "Voodoo Economics" by opponents, [5] [6] including some Republicans, while Reagan and his advocates preferred to call it free-market economics.
The tax cuts popularized the now infamous phrase "trickle-down economics" as it was primarily used as a moniker by opponents of the bill in order to degrade supply-side economics, the driving principle used to promote the tax cuts.
Reagan pushed a “trickle down” economic agenda designed to benefit businesses through deregulation and tax cuts. The theory was that this would boost corporate profits — and those profits ...
The Reaganomics era was in full bloom, promising a trickle-down effect to low-income families that never came and ultimately widened the wealth gap between white and Black Americans. Affirmative ...
These policies were labeled by some as "trickle-down economics", [26] though others argue that the combination of significant tax cuts and a massive increase in Cold War related defense spending resulted in large budget deficits, [27] an expansion in the U.S. trade deficit, [27] as well as the stock market crash of 1987, while also contributing ...
Quoting the late Republcan president Ronald Reagan (who in turn was quoting founding father and 2nd president John Adams), Biden said he agreed with Reagan’s statement that “facts are stubborn ...
Reagan and Stockman in the Oval Office, 1981. Stockman was quoted as referring to Reagan's tax act in these terms: "I mean, Kemp-Roth [Reagan's 1981 tax cut] was always a Trojan horse to bring down the top rate.... It's kind of hard to sell 'trickle down.' So the supply-side formula was the only way to get a tax policy that was really 'trickle ...