Extent of Social Change
- Created by: eves_mck
- Created on: 12-02-19 23:15
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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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