Reaganomics [SEP] named after
Reaganomics
Reaganomics (; a portmanteau of "[Ronald] Reagan" and "economics" attributed to Paul Harvey) refers to the economic policies promoted by U.S. President Ronald Reagan during the 1980s. These policies are commonly associated with and characterized as supply-side economics, trickle-down economics or voodoo economics by political opponents, while Reagan and his political advocates preferred to call it free-market economics.
The four pillars of Reagan's economic policy were to reduce the growth of government spending, reduce the federal income tax
. Collectively called "Reaganomics", these economic policies were established through several pieces of legislation passed between 1980 and 1987.
Some of these new policies also arguably curbed several existing tax loopholes, preferences, and exceptions, but Reaganomics is typically remembered for its trickle down effect of taxing poor Americans more than rich ones. Reaganomics has (along with legislation passed under presidents George H. W. Bush and Bill Clinton) been criticized by many analysts as "setting the stage" for economic troubles in the United State after 2007, such