Friday, September 9, 2011

REAGANOMICS: A Plan For An Economic Turnaround!

Although this may sound too much like the Tea Party Goals, this was President Reagan's plan to turn around a bad economy:

1.  Reduce growth of Government spending.
2.  Reduce income tax and capital gains tax.
3.  Reduce government regulation.
4.  Control money supply to reduce inflation.

According to a UNITED STATES DEPARTMENT OF THE TREASURY economic study, the major tax bills enacted under Reagan in the short term, increased tax revenue and reduced the tax burden on the economy.


PRESIDENT REAGAN EXPLAINING HIS PLANNED TAX CUTS

Nominal national debt rose from $900 billion to 2.8 trillion during Reagan's tenure while the federal deficit fell from 6% of GDP to only 3.2% of GDP in 1987.  The federal deficit in Reagan's final budget was 2.9% of GDP.

Stephen Moore of the Cato Institute states "No act in the last quarter century had a more profound inpact on the U.S. economy of the 80's and 90's than the Reagan tax cut of 1981".

Moore claims that "Reagan's tax cuts, combined with an emphasis on federal monetary policy, deregulation, and expansion of free trade created a sustained economic expansion creating America's greatest sustained wave of prosperity ever".

He points out that the economy grew by a third producing a $15 trillion increase in American wealth.

CONSUMER AND INVESTOR CONFIDENCE SOARED.

Cutting federal income taxes, cutting the U.S. Government spending budget, cutting useless programs, scaling down the government work force, maintaining low interest rates, and keeping a watchful inflation hedge on the monetary supply was Reagan's formula for a successful economic turnaround.

Under President Obama the U. S. Deficit is approaching $15 trillion, unemployment remains near 10%, business is more and more hampered with regulations, and government just continues to grow and grow.

EXACTLY THE OPPOSITE OF PRESIDENT REAGAN'S SUCCESSFUL PLAN.

 President Obama's "American Jobs Act" speech was nothing but a political move towards his reelection.  If his spend and tax plan is not followed, well, then, that's the problem of congress.  

DON'T FALL FOR THIS GARBAGE!

God bless you and yours and God bless the USA

   

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