Reaganomics the best plan for the 80s

If an actor can not when an Emmy, the prestige award of the silver screen, then is in it ironic that he can become our forty if president. Reagans goal was to increase jobs for Americans, and by implementing his Supply-side theory he captured his goal. After the Carter administrative Reagan was forced to work with a very high unemployment rate. Reagan needed to put Americans in to jobs, and also increase the money circulation through out the economy. Reagan has a college degree in economics, which allowed him to consult with the problem that he encountered coming in to office. We were in need of a leader who can replenish the American economy and help try to produce jobs. We were also under the scare of the Soviet Union or the Evil Empire. Reagan believed the in military spending and this would be a key element in to help bring a stop to communism. Supply-side economics or the coined term Reaganomics is what Reagan did to help the American economy. Reagan implemented deep across-the-board tax cuts, across-the-board domestic spending cuts, deregulation, and sound monetary policies to restrain inflation. Reagan implemented these policies quickly, and the economic boom that resulted created more than 21 million new jobs. The method of economic stimulation proposed by the Supply-Siders is the reduction of income taxes. According to theory, this will increase investment and economic activity. The people who benefit the most from income tax cuts are those with significant incomes. Thus Supply Side economics also increases income disparities. The Reagan administration felt that the wealthy would invest their money in business, creating jobs and increasing wages and therefore creating more taxable income. This is called trickle-down theory. The idea is that if you put the money in at the top it will “trickle down” into the pockets of the lower classes. The more jobs would go to the working class, and in e…

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