The theory behind Reaganomics was sound, but when applied in real life its consequences are still present more than ten years after the fact. The tax cuts applied early in Reagan's first term cemented the ideology for what the next eight years of his reign would uphold. The Economic Recovery Tax Act would cut taxes roughly twenty five percent over a three-year period. The ideology of Reagan's administration quickly received supporters of what he was …
showed first 75 words of 593 total

showed last 75 words of 593 total
…and is a concern to our economy. However, the eighties was a time when the majority of America lived the high life, and when the poor suffered the consequences. But in politics there will always be a group that will feel the burden of some one else's pleasure. Now, the welfare state is adequately funded, and those who lost the government aid that they relied on during Reaganomics are once again receiving what they need.