Extent of Social Change

  • Created by: eves_mck
  • Created on: 12-02-19 23:15

Business and Industry

Changing businesses and farms

  • Reagan said gave small businesses tax breaks, allowing them to pay personal not corporate tax
  • Said over 500,000 new small bussinesses had been set up each year 1981-82
  • Problem of rising interest rates on long term-loans that many small businesses held - why they went under
  • Farming broadly affected by high interest rates and federal non-intervention
  • 1970's USA supplied wheat to USSR and encouraged farmers to expand
  • 1979 - Afghanistan invaded by USSR - USA stopped exporting in protest
  • Agri-businesses bought out small failing farms
  • 1980 - 17% of farmers getting 60% of subsidy fund
  • 1986 farmers set up National Save


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