Here's Why Reaganomics is so Controversial | History

When Reagan took office in 1980, the US economy had been in a state of inflation since what year?

• 1963

• 1964

• 1965

• 1966

Higher prices or inflation and high unemployment at the same time is known as 

• Gross National Product

• Economic Boom

• Stagflation

• deficit spending

The theory behind Trickle-Down economics is that if the federal government cut taxes on corporations and wealthy Americans they would invest these savings back into businesses and thus create more...

• foreign investment.

• unemployment and less overall consumer spending.

• jobs and higher wages which could then be taxed.

Opponents of Trickle-Down economics argue that when you cut federal taxes these programs suffer.  

• defense spending.

•  social programs like welfare.

Critics also argue that only these Americans ultimately benefit from Trickle-Down economics...

• foreign investors.

• defense contractors.

• the rich.

• the poor.

After the 1981 & 1986 new tax laws the top income tax rate was slashed from 70% to ____________%.

• 50

• 21

• 28

As a result of the 1981 and 1986 Reagan tax cuts, the top income tax rate was cut from 70% to ...

• 25%

• 26%

• 27%

• 28%

Proponents or supporters of Reagan's economic policies argue that they benefitted the country by ...

• providing economic prosperity and ending the period of stagflation

• leading to a recession or economic downturn

• uplifting the poor ending poverty forever

Critics of Reaganomics argue that his policies led to ...

• The ending of poverty in America

• the paying off of the whole national debt

• The gap between the rich and the poor increased 

Which political party argues that Reaganomics is an example of corporate greed that hurt the middle and working classes? 

• Libertarians

• Independents

• Republicans

• Democrats