Question

How did people respond reagan’s large tax cuts for the wealthy?

Answer 1

Answer: The four main things of Reagan's economic policy, later known as Reaganomics, were to reduce the growth of government spending, reduce the federal income tax and capital gains tax, reduce government regulation, and tighten the money supply in order to reduce inflation. However, these measures also made the government cut some social programs and as a consequence youngsters in universities started to protest.

Answer 2

Ronald Reagan’s large tax cuts for the wealthy achieved a positive response from the people when most of them understood that the tax cuts would help them in the long run. In fact today, the tax cuts create an economic growth.