Ok finally here is an explanation of Reaganomics which Ronald Reagan made popular when he took office in 1980. First a little background, when Ronald Reagan took office after Jimmy Carter single handedly ran the economy in the toilet by his "Windfall Profit taxes" hmmm does that sound familiar...... Ah yes the same thing that Barack Obama wants to do.... That worked real well for Carter... Anyway Reagan came to office with a huge problem how to get the economy stimulated again... Hear are four of his main Ideas:
1.reduce the growth of government spending,
2.reduce marginal tax rates on income from labor and capital,
3.reduce government regulation of the economy,
4.control the money supply to reduce inflation
Reaganomics is also known as trickle down economics. Trickle down economics simply means that if you cut taxes on the "businesses" they are more apt to create new jobs because they have the money too. Hmmm all the democrats keep screaming that we need to raise taxes on the business and the wealthy because they have more and they should give lots more. Have you ever worked for someone who makes 20 or 30 thousand dollars a year? I didnt think so. You see democrats like to demonize the wealthy but they are the life blood of our economy hence they create jobs. One thing I want you to notice about the democrats they dare not speak bad about Reagan because he was and is considered the greatest president ever"even by most liberals" but yet they want to grow government and tax, tax, tax. Oh just the wealthy of course...Right.. One thing that the dems will try to say is that Reagan ran a huge deficit.. Well lets see... He submitted his budget to congress(democrat controlled) and they denied it.... added their pork to it and then passed it... Good job guys.... See if we could have a president like Reagan who would not be afraid to stand up to the morons on capitol hill they could turn this economy around. I'm afraid neither of our candidates will do this....
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