Ronald Reagan hoped to help the economy through his economic policies, dubbed "Reaganomics," which were based on the principles of supply-side economics. The key components of Reaganomics included tax cuts, deregulation, and reduction in government spending.
Through tax cuts, Reagan aimed to stimulate economic growth by putting more money into the hands of individuals and businesses, which would ultimately lead to increased spending, investment, and job creation. By reducing government regulations, Reagan believed that businesses would be able to operate more efficiently and effectively, leading to higher productivity and overall economic growth. Additionally, by reducing government spending, Reagan hoped to curb inflation and reduce the national debt.
Overall, Reaganomics was intended to create a more favorable business climate through lower taxes and fewer regulations, which would in turn lead to economic growth and prosperity for all Americans.
How did Ronald Reagan hope to help the economy with his reageanomics plans?
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