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A system of Fiscal sabotage also known as voodoo economics put in place by Ronald Reagan
Reaganomics shifted the tax burden from the wealthy to the middle class, real income plummeted for most Americans while CEO salaries and the national debt sored!
Economic plan developed by President Ronald "Bonzo" Reagan in the 1980s based on some squiggles drawn on a napkin. Based on the entirely logical presumption that less money equals more money.
"Hey, Ron, let's lower taxes on the rich, cut funding for education/healthcare/anything important, then spend so much on useless crap like missiles that we end up in debt for the rest of our lives and those damn Boomers can't have their social security."
"Huh?"
"Good choice, Ron. We'll call it Reaganomics."
"Uh, OK."
Any socio-economical policy that benefits the wealthy or expands corporate power while harming ordinary working class people
The union went on strike so the company tried to be Reaganomical by firing the striking workers and replacing them with illegal immigrants who were only paid half as much.
economic strategy in which the tax burden is shifted away from big corporations and the wealthy and put on the middle class while dramatically increasing spending on things like military hardware thus creating massive budget deficits which are later used as an excuse to cut funding for social programs
Reaganomics was a devious plot to destroy the middle class and usher in a new era of neo-feudalism.
Reverse Robin-Hood:
Essentially, steal from the poor, give to the rich. Enacted by a senile puppet in the 80's in the height of his delirium.
Tax Collector: That's ok, Mr. Trump, you can go, we'll just go shake down that hobo over there.
Trump: God, I LOVE Reaganomics!
1. Reduce the growth of government spending.
2. Reduce marginal tax rates on income from labor and capital.
3. Reduce regulation.
4. Control the money supply to reduce inflation.
These are the four basic principals of Reaganomics.
A program of across the board tax cuts in order to produce growth in an economy. It worked very well in the 1980s. GNP and real incomes rose in the 1980s. It was theorized by economist, Arthur Laffer, that government revenue would grow if taxes were cut on the across the board including the wealthy. Revenue rose sharply in the 1980s. However, spending rose faster.
Often, misrepresented as stealing from the poor and giving the rich. If you cut taxes, it is only right to lower taxes on the wealthy who pay taxes.
President Reagan's economic policy.