THE RISE OF POLITICAL CONSERVATISM 1980 1992
THE ELECTION OF RONALD REAGAN IN 1980
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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“Trickle down economics"/Reaganomics
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The New Deal
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Monroe Doctrine
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Race to the Top
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Detailed explanation-1: -The pillars of Reagan’s economic policy included increasing defense spending, balancing the federal budget and slowing the growth of government spending, reducing the federal income tax and capital gains tax, reducing government regulation, and tightening the money supply in order to reduce inflation.
Detailed explanation-2: -Ronald Reagan’s economic policies, dubbed “Reaganomics” by opponents, included large tax cuts and were characterized as trickle-down economics. In this picture, he is outlining his plan for the Economic Recovery Tax Act of 1981 from the Oval Office in a televised address, July 1981.
Detailed explanation-3: -In 1980 Ronald Reagan was elected and promised to cut the top marginal tax rate. This he did, and the top marginal tax rate was lowered over his 8 years in office from 73% to 28% on incomes over just $29, 750-the lowest this rate had been since 1925.