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 the 60's Kennedy
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In November of 1986 President Reagan confirmed reports that the
United States had secretly sold arms to Iran. He stated that the goal was to improve relations with Iran, not to obtain release of U.S. hostages held in the
Middle East by terrorists. Later in November, Attorney General Edwin Meese discovered that some of the arms profits had been diverted to aid the Nicaraguan
"contra" rebels--at a time when Congress had prohibited such aid. An independent special prosecutor, former federal judge Lawrence E. Walsh, was appointed to investigate the activities of persons involved in the arms sale or contra aid or both, including marine Lt. Col. Oliver North of the National Security Council
(NSC) staff. In May 1989 North was tried and convicted of obstructing Congress and unlawfully destroying government documents, but his conviction was subsequently overturned. Reagan ordered the bombing of military targets in
Libya in 1986 in retaliation for its role in international terrorism. His policy of reflagging (flying the U.S. flag on) Kuwaiti oil tankers and providing them with a U.S. naval escort in the Persian Gulf led to clashes with Iran in 1987.
President Reagan during his administration sought to improve relation with the
Former Soviet Union, and foreign relations did improve greatly. Reagan and
Gorbachev paved the way to the end of the cold war. They accomplished this by means of Summit Conferences. Several of these conferences were held from 1985 to 1987.
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