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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.
Reagan sought to stimulate the economy with large, across-the-board tax cuts. [5] [6] The expansionary fiscal policies soon became known as "Reaganomics", [5] and were considered by some to be the most serious attempt to change the course of U.S. economic policy of any administration since the New Deal.
The term itself is used mostly by critics of the concept. The Merriam-Webster Dictionary notes that the first known use of "trickle-down" as an adjective meaning "relating to or working on the principle of trickle-down theory" was in 1944, [11] while the first known use of "trickle-down theory" was in 1954. [12]
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 ...
Reagan believed in policies based on supply-side economics and advocated a laissez-faire philosophy, [31] seeking to stimulate the economy with large, across-the-board tax cuts. [32] [33] Reagan pointed to improvements in certain key economic indicators as evidence of success. [8]
President Reagan, shown in 1981, based many of his policies on ideas from the Heritage Foundation publication "The Mandate for Leadership." Project 2025 makes up a majority of the latest edition ...
In doing so President Reagan used the now famous phrase, "Drain the swamp". [1] The survey's focus was on eliminating waste and inefficiency in the United States federal government. Businessman J. Peter Grace chaired the commission. [2] Reagan asked the members of that commission to "Be bold. We want your team to work like tireless bloodhounds.
President Ronald Reagan deregulated business in the 1980s with his Reaganomics plan. In 1946, the U.S. Congress enacted the Administrative Procedure Act (APA), which formalized means of ensuring the regularity of government administrative activity and its conformance with authorizing legislation. The APA established uniform procedures for a ...