USA HISTORY

Detailed explanation-1: -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-2: -These policies are characterized as supply-side economics, trickle-down economics, or “voodoo economics” by opponents, while Reagan and his advocates preferred to call it free-market economics.

Detailed explanation-3: -Reaganomics refers to the economic policies of Ronald Reagan, the 40th U.S. president, serving from 1981–1989. His economic policies called for widespread tax cuts, decreased social spending, increased military spending, and the deregulation of domestic markets.

Detailed explanation-4: -Supply-side economics is sometimes known as Reaganomics for its association with President Ronald Reagan.