AskSia

Plus

The Reagan Revolution of the early 1980s entailed (A) tax cuts for low-income A...

Oct 17, 2023

The Reagan Revolution of the early 1980s entailed (A) tax cuts for low-income Americans and expansion of social welfare programs (B) tax cuts for the wealthiest Americans and increases in defense spending (C) a free-trade policy with European nations (D) national health insurance (E) abalancedfederalbudget

Key Concept

KC-9.2.III During the Reagan presidency in the 1980s, conservative ideologies led to shifts in domestic policy, including tax cuts and increased military spending.

Explanation

The Reagan Revolution, also known as Reaganomics, was characterized by a series of economic policies. This included significant tax cuts, primarily benefiting the wealthiest Americans, and a substantial increase in defense spending. These policies were based on the belief that reducing the tax burden on the wealthy would stimulate investment and economic growth, benefiting all Americans. The increase in defense spending was part of Reagan's strategy to end the Cold War.

What were the main characteristics of Reaganomics?, How did Reagan's policies affect the American economy?, What was the Reagan Revolution?, Generate me a similar question