What was Reaganomics (in a nutshell)?

Question

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Answer 1

"Divil take the hindmost"

Answer 2

Reaganomics used the trickle down effect as attemted by our current President Bush. The idea was to cut taxes and increase spending. As explained previously, the wealthy got the biggest tax cuts. The idea was to have them spend money giving more money to businesses which would employ more working class who would then have more money to live and spend. The tax cuts were supposed to trickle down and be spread out. Unfortunately a large portion of the money was invested instead of trickling down into the economy.
four major policy objectives:
(1) reduce the growth of government spending, (2) reduce the marginal tax rates on income from both labor and capital, (3) reduce regulation, and (4) reduce inflation by controlling the growth of the money supply

Answer 3

1. Cutting taxes results in increased commerce, thereby increasing total revenues to the Treasury. Revenues to the Treasury between 1985 and 1987 tripled.
2. Reducing taxes on upper income people results in more discretionary income to be used for investment in businesses, thereby producing commercial growth, along with job growth.
BTW, Ronald Wilson Reagan was the only Chief Executive in the history of our republic to have a college degree in economics. The "mainstream media" didn't get around to noticing that until six weeks before he left office.

Answer 4

Lower taxes (especially on the rich) so that people will have more of thier own money to spend however they wish (education, start a business, invest, get out of debt, etc.).
If more people have more money (especially the rich) they will spend it, thus spurring the economy and creating jobs. No poor person ever hired someone. Only the rich hire people, but they can't do that if they are being taxed to death.
It is all very simple, common sense.

Answer 5

Reduce taxes on the wealthy, telling everyone that the money will "trickle down" to everyone else (it didn't). Destroy bargaining power of working people by union-busting (PATCO strike) and send manufacturing jobs overseas whenever possible. Try to sell arms to Iran in exchange for hostages. Drive up national debt from $700 million to $3 trillion and trade deficit to previously unknown levels and send money to friends in war-making industries. Oversee collapse of many savings and loans, wherein many people lost everything they owned. Turn the U.S. from being the world's largest international creditor to the world's largest debtor nation
Try to take credit for ending the cold war, when the real credit most likely goes to someone like Polish union leader Lech Walensa, plus the inevitable march of time and economics.

Answer 6

Reagan believed that the people who earned the money knew how to manage it better than the government. Guess What? He was right.