2006-09-06 10:25:31 · 8 answers · asked by Anonymous in Society & Culture ➔ Cultures & Groups ➔ Other - Cultures & Groups
Oh boy-in short (very short) The rich got richer & the poor became poorer.
Okay here are some links for you:
http://www.cnn.com/SPECIALS/2001/reagan.years/whitehouse/reaganomics.html
http://en.wikipedia.org/wiki/Reaganomics
http://www.econlib.org/library/Enc/Reaganomics.html
Good luck if this is for a class! My sociology professor had a field day talking about Reaganomics....
2006-09-06 10:30:47 · answer #1 · answered by Nik 4 · 1⤊ 0⤋
Most people of the leftist persuasion will misrepresent Reaganomics to make it sound evil. Reaganomics means lower taxes for everyone, including the rich. The basis was that people who are rich in America for the most part are very talented individuals who are rich not because of government intervention but because of their own skills they were able to use in the free market to make lots of money.
Reaganomics, in constantly misrepresented as "robbing from the poor and giving to the rich". However, this is false because with Reaganomics both the rich and the poor get to keep their own money instead of distributing the wealth evenly throughout the population. The opposite of Reaganomics, socialism would steal from the rich and give to the poor money they did not earn.
2006-09-06 18:21:11 · answer #2 · answered by funkyourcouches 2 · 0⤊ 1⤋
A pyramid scheme.
The idea was to reduce the government, while widening the tax-base. The tax reform act of '86 did initally help the average tax-payer, but with deregulation of business, ie: telephone, power, and air-travel, it actually has proven to place the bulk of taxes on the people, while big-business gets the breaks.
2006-09-06 17:35:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
the idea was to give tax breaks to the very rich...and they would then spend this money on investing in business and buying more manufactured goods and thus the money would "trickle down" to the poor people with increased employment in manufacturing of said goods the rich would be buying...sounds good on paper...just didn't actually work in reality
2006-09-06 17:49:50 · answer #4 · answered by Anonymous · 1⤊ 0⤋
http://en.wikipedia.org/wiki/Reaganomics
2006-09-06 17:30:57 · answer #5 · answered by Mopar Muscle Gal 7 · 0⤊ 0⤋
Was there a link to the economics of Pres Reagan?
2006-09-06 18:38:09 · answer #6 · answered by camilo r 3 · 0⤊ 0⤋
Rob from the poor and give to the rich. True sherif of Notingham he was.
2006-09-06 17:32:16 · answer #7 · answered by Anonymous · 1⤊ 0⤋
its like Reggae except, the same how a person speaks slang,but they speak Reggae.
2006-09-06 19:07:16 · answer #8 · answered by Nicholais S 6 · 2⤊ 0⤋