Did it work in the 1980s when Ronald Reagan was President? Why or why not.
2006-10-23 13:11:05 · 4 answers · asked by petypablo23 1 in Politics & Government ➔ Other - Politics & Government
Yes it worked and the economy ran wide open until the mid 90's when Clinton slowly choked it to death.
In short, Reaganomics says, " give the working people back some of their tax money because they know best how to spend it. They buy durable goods, which means factories have to replace what they buy, which puts people to work, who pay taxes, and they buy durable goods, and so on and so on and so on."
The liberal slant is voodoo economics, but hey, it worked for Reagan, worked for JFK ( yes, remember his speech, " ask not what your country can do for you, but what you can do for your country." He gave Americans tax breaks because he knew what would happen.
2006-10-23 13:16:15 · answer #1 · answered by bigmikejones 5 · 1⤊ 0⤋
Of course it did. Contrary to popular myth, the untying of corporate hands allowed research to the innovations and resulting economic explosion of the nineties.
2006-10-23 20:14:50 · answer #2 · answered by Pancakes 7 · 0⤊ 0⤋
Yes, it worked.
2006-10-23 20:12:38 · answer #3 · answered by Anonymous · 1⤊ 1⤋
it worked ! look at russia now..
2006-10-23 20:14:42 · answer #4 · answered by Anonymous · 1⤊ 0⤋