Essay about The Reagan Tax Cuts And Foreign Policy

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The Reagan Tax Cuts and Foreign Policy      During the 1980's President Ronald Reagan's (our 40th president from 1981 to 1989) domestic policy of a substantial tax cut led to greatly increased economic prosperity for our country. During Reagan's administration marked changes were made to the tax code and economic statistics showed a major change for the better. However, at the same time, the Democrats controlled the Congress and continued increased spending against Reagan's wishes. The Joint Economic Committee stated that an across-the-board tax cut was not new. In the 20's the Mellon tax cuts were implemented by Secretary of Treasury Andrew Mellon during the Administrations of Hoover, Harding, and Coolidge. In…show more content…
This act simplified and reduced taxes, but the democrats wanted to claim equal credit for the bill as well. A stock market crash in 1987 raised questions about the nation's economic health. A new bill to balance the federal budget became law in 1987, but the huge deficit continued to be a concern to the government. Congress passed Reagan's requests for cuts in taxes and in some government programs. Reagan also won increased funds for defense. By 1982, however, the country was in an recession, which meant that there was an extended decline in general business activity, typically three consecutive quarters of falling real gross national product. The economy improved in 1983. But the increased defense spending and tax cut had led to a record budget deficit. Democrats attacked Reagan for cutting social welfare programs and called for reduced defense spending and a tax increase in order to lower the deficit. Foreign Policy President Reagan through foreign policy sought to achieve peace through strength. He had learned how to deal skillfully with Congress and obtain legislation to strengthen our national defense. In 1983, Reagan sent U.S. Marines to Lebanon as part of a peacekeeping force. The Marines were recalled in 1984, after some 240 had been killed in a terrorist attack. Reagan also sent U.S. troops to Grenada in 1983, to prevent what the he saw as a Cuban attempt to take over the Caribbean island nation. The President denounced the left-wing

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