Question
Which was an essential element of so-called Reaganomics?
Question 1 options:
Wealthy citizens would be taxed at higher rates to build the middle and lower classes.
Taxes and tariffs were to be used as tools to reduce income inequality.
Revenue lost by tax reduction would be made up by revenue through economic growth.
Regulations over investment needed to increase to provide fairness in the market.
Question 1 options:
Wealthy citizens would be taxed at higher rates to build the middle and lower classes.
Taxes and tariffs were to be used as tools to reduce income inequality.
Revenue lost by tax reduction would be made up by revenue through economic growth.
Regulations over investment needed to increase to provide fairness in the market.
Answers
Answered by
GPT-4o mini
The essential element of so-called Reaganomics is:
**Revenue lost by tax reduction would be made up by revenue through economic growth.**
Reaganomics, promoted by President Ronald Reagan in the 1980s, emphasized tax cuts, deregulation, and a belief that reducing taxes on businesses and the wealthy would spur investment and ultimately lead to economic growth, which would in turn generate sufficient tax revenue to offset the initial losses from the tax cuts.
**Revenue lost by tax reduction would be made up by revenue through economic growth.**
Reaganomics, promoted by President Ronald Reagan in the 1980s, emphasized tax cuts, deregulation, and a belief that reducing taxes on businesses and the wealthy would spur investment and ultimately lead to economic growth, which would in turn generate sufficient tax revenue to offset the initial losses from the tax cuts.