When Ronald Reagan ran for the presidency in 1980,he pledged to bring about

Question

Quizplus · Accepted Answer

Ronald Reagan pledged to bring about large cuts in personal income taxes as a part of his economic agenda, which was known as Reaganomics. The purpose of these tax cuts was to stimulate economic growth and create jobs by putting more money in the hands of individuals and businesses. This policy was based on the supply-side economic theory that reducing taxes would incentivize economic activity and lead to higher revenues in the long run. Reagan believed that reducing taxes would also help to reduce government spending by limiting the amount of money politicians could spend.

When Ronald Reagan Ran for the Presidency in 1980,he Pledged