Reagonomics 1981
A mindmap on Reagonomics.. Sorry rather detailed but for me that was the only way I understood it in the end, otherwise I was just a very confused person! Hope this is helpful, if not i would advise spending time reading through the text book (it may take a while but you'll understand it in the end)
- Created by: Dracupine
- Created on: 08-05-13 09:27
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- Reagonomics
- AIMS
- Decrease Taxes
- encourage hard work & buy more
- REeduce size & role of Gov.
- Cut public spending & minmising/stop welfare
- Strengthen nations defands
- Deregulate state & federal Gov. requirements
- Supposedly liberate businesses & allow capitalism to flourish
- People moree prosperous (due to lower taxes) = able to buy more + pay more taxes (multiple small taxes)
- decreasing federal deficit
- Decrease Taxes
- 1. Several of Reagan's leading advisers had served in & learned from the Nixon administration
- Ensure that 2,000 lower-level political positions went to candidates who sympathise with Reagonomics
- No debate about or opposition to supply-side theory
- Reagan frequently attended cabinet meetings to remind everyone who was boss (Kept in Control)
- Ensure that 2,000 lower-level political positions went to candidates who sympathise with Reagonomics
- 2. Changes through administrative action or inaction.
- Lightened burden of regulation on industry & business cutbacks on staff of regulatory agencies AVERAGING 29%
- Reagan used his powers of appointment to ensure that bodies such as the Occupational safety & health administration made decisions in favour of business & against labour
- 50% fall prosecutions for illegal disposal of hazardous waste & 38% cut number of personnnel in consumer product safety commission
- Congressional ageement to the budget
- Successfuly had capacity to lead congress
- Budget plan: Tax lowered, increase defence spending $7.2 billion & cut $40 billion from propsed 1982 federal budget of $740 billion by decreasing Gov. expenditure
- Highly successful in maintaining control over budget process. Passed close to what Reagan wanted
- Reagan Compromised
- Well defined priorities & clear sense of direction
- Impressive T.V. address to congress + pressured them through media (TV, radion & public)
- AIMS
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