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Reagan gives a televised address from the Oval Office, outlining his plan for tax reductions in July 1981.. Reaganomics (/ r eɪ ɡ ə ˈ n ɒ m ɪ k s / ⓘ; a portmanteau of Reagan and economics attributed to Paul Harvey), [1] or Reaganism, were the neoliberal [2] [3] [4] economic policies promoted by U.S. President Ronald Reagan during the 1980s.
Ronald Reagan launched his 1980 campaign for the presidency on a platform advocating for supply-side economics. During the 1980 Republican Party presidential primaries, George H. W. Bush had derided Reagan's economic approach as "voodoo economics".
Reagan described the new debt as the "greatest disappointment" of his presidency. [39] Reagan's economic tax plans had early been labeled "voodoo economics" and "trickle down economics", both terms of which have propelled far into the US political discourse since, and are still used today alongside Reagan's name.
This assertion was derided by George H. W. Bush as "voodoo economics" while running against Reagan for the Presidential nomination in 1980. [47] During the Reagan presidency, the top marginal rate of tax in the United States fell from 70% to 28%.
Reagan also called for a drastic cut in "big government" and pledged to deliver a balanced budget for the first time since 1969. In the primaries, Bush called Reagan's economic policy "voodoo economics" because it promised to lower taxes and increase revenues at the same time.
On this day in economic and business history... The modern labor community has its own method of dating history. There's "Before Reagan," which covers much of the history of labor rights in the ...
Presidents Day is approaching, and according to a new poll economics and recent history may play a factor along with politics, when it comes to how Americans rank their presidents. In the USA ...
One man said NEST felt like Ronald Reagan era trickle-down economics, which his former political rival and eventual Vice President George H.W. Bush once called "voodoo economics."