The data for each of the following can be interpreted in different ways and may support or undermine the claim that Reaganomics was a success:
Gross Domestic Product (GDP): During Reagan's presidency, the GDP grew at an average annual rate of 3.5%, which was higher than the previous decade. This suggests that Reaganomics was successful in stimulating economic growth.
National debt: The national debt increased significantly during Reagan's presidency, from around $900 billion in 1980 to over $2.8 trillion in 1988. This may suggest that Reaganomics was not successful in reducing the national debt.
Maximum Income Tax rate: The maximum income tax rate was reduced from 70% to 28% during Reagan's presidency. This may suggest that Reaganomics was successful in reducing tax rates and promoting economic growth.
Percent living in poverty: The percentage of people living in poverty remained relatively unchanged during Reagan's presidency, hovering around 15%. This may suggest that Reaganomics was not successful in reducing poverty.
Unemployment: Unemployment initially increased during Reagan's presidency but then decreased significantly, from over 10% in 1982 to around 5% in 1988. This suggests that Reaganomics was successful in reducing unemployment.
ProCon.org is a well-known and reputable website that provides balanced and unbiased information on controversial topics. The site sources its information from a variety of credible sources and provides citations for all its claims. As such, it can be considered a trustworthy source of information.
The fact that ProCon.org collected the data from other sources does not necessarily affect its trustworthiness. As long as the sources of the data are reliable and credible, the data itself can be considered trustworthy. ProCon.org provides citations for all its data sources, which allows readers to verify the information for themselves.