Reaganomics Era

Описание: Under Reagan's presidency, a transformative shift in economic policy, dubbed Reaganomics, unfolded with the intent to revitalize the U.S. economy. In 1981, Reagan enacted major deregulation by lifting controls on domestic petroleum prices, subsequently easing tax burdens on oil companies and drastically cutting federal income taxes through the Economic Recovery Tax Act. This Act significantly lowered tax rates for individuals and businesses, aiming to stimulate economic growth. Reagan to partially roll back these cuts, addressing growing concerns over federal deficits. The administration pursued further tax reforms with the Tax Reform Act of 1986, simplifying the tax code, closing loopholes, and attempting to maintain revenue neutrality. Reagan's era experienced fluctuating federal revenues, increased military spending, and a substantial growth in national debt—shifting the U.S. to a net debtor position.


~~~~~

Visual Disclaimer: The images in this video are AI-generated and intended for artistic enhancement only. They are not always historically accurate and should be enjoyed as creative backdrops to our storytelling.

~~~~~

Want to support the channel? Our videos require intensive resources and wouldn't be possible without support from viewers like you.

Become a member:    / @_audiology  

Support us on Patreon:   / audiology  

We hope you enjoy the journey- thanks for watching! Be sure to subscribe for more exciting content. To request videos or topics leave a comment below.