Difference between revisions of "Reaganomics"

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m (Supply-side economics is better known to some as "Reaganomics", or the "trickle-down" policy espoused by former U.S. president Ronald Reagan)
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"Reaganomics" includes the idea of tax cuts proposed and enacted by President [[Ronald Reagan]].  It usually refers to the idea of "trickle down theory" in which lowering taxes on capital gains and those with higher incomes will stimulate the economy, thereby improving the economic situation of everyone.<ref>'Supply-side economics is better known to some as "Reaganomics", or the "trickle-down" policy espoused by former U.S. president Ronald Reagan. He popularized the controversial idea that greater tax cuts for investors and entrepreneurs provides incentives to save and invest and produce economic benefits that trickle down into the overall economy.'  [http://www.investopedia.com/articles/05/011805.asp Understanding Supply-Side Economics], David Harper </ref>
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#REDIRECT [[supply-side economics]]
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Reagan's own vice-president, George H. W. Bush, referred to Reaganomics as "voodoo economics."
 
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Rothbard wrote:
 
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*Specifically, Reagan called for a massive cut in government spending, an even more drastic cut in taxation (particularly the income tax), a balanced budget by 1984 (that wild-spender, Jimmy Carter you see, had raised the budget deficit to $74 billion a year, and this had to be eliminated), and a return to the gold standard, where money is supplied by the market rather than by government. In addition to a call for free markets domestically, Reagan affirmed his deep commitment to free­dom of international trade. [http://www.mises.org/story/1544]
 
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==External Links==
 
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*[http://www.mises.org/story/1544 The Myths of Reaganomics] By Murray N. Rothbard
 
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*[http://72.14.209.104/search?q=cache:ZQm_5SG3WwQJ:www.davidsmick.com/WSJ070881.pdf+%22Reaganomics%22+includes+the+idea+of+tax+cuts&hl=en&ct=clnk&cd=7&gl=us&client=firefox-a What Reaganomics Is All About]
 

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