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Reaganomics And Its Implications For African American Family Life

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Ronald Regan was a president who was economically conservative thought highly of the idea that through one’s effort to gain monetary success you would have to put in the incentives to work, invest and save. Ever since Reagan entered office in 1980’s, some would say his policies were a disadvantage to the poor especially to black Americans. Reagan’s administration popularized the idea of supply-side economics which was to lower taxation, cap government spending and reduce regulations and government activities among the American people. Reagan’s governmental policy created difficulties for the poor especially Black American by reducing governments interventions in the lives of the citizen; through the reductions or closure of several programs …show more content…

St. Pierre argues on how Regan’s policy on reducing food-related programs does not increase the economic status of the American people, but decrease it. The food stamp program got some new regulations that required its recipients to have an income of 11,000 per year in order to be eligible to receive food stamps. This was a problem for the people receiving it since they can’t live off that amount yearly. Living in America during the 80s, the median income for families was around 26,000, but for black families, it was around 15,000. Black Americans were at a disadvantage because how can the government expect them to make 11,000 and survive off that. These programs are set out to help the people get out of the economic hardships that they are in. The government isn’t giving them enough room to grow and increase their yearly income. The government should be that support system that allows its people to grow while still giving them that extra push that they need. The government could give them room to grow and increase their income while still having the benefits. This would allow them to save, invest, and stop needing the aid the government offers. Allowing this would help increase the economic expansion that president Reagan …show more content…

AFDC and Child Support Enforcement was one of those programs that got its spending decreased. Also, there were regulations put in place to help the families get all the necessary resources so they wouldn’t need the aid. These regulations were established so there wouldn’t be any overpayments or fraud happening. In order to determine what benefits one would get through AFDC program, the government would base it off the families’ income and circumstances. They would also add the stepfather’s income in determining what benefits the children would get. This would put a strain on families and the husbands would want to leave their families because the money the children would’ve gotten was essential in supporting the family. Now, this could result in welfare fraud, since people would be inclined to lie so they would be eligible for the

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Tax relief for the rich would allow them to spend and invest their money. This spending would fuel the economy and create new jobs. Reagan believed that these tax cuts would ultimately generate more revenue for the federal government. Congress was not as confident as Reagan, but they did approved a 25 percent

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How did the Carter and Reagan presidencies serve corporate interests? The Carter administration started off with strong corporate connections. He wanted and worked to protect corporate wealth and power.. It was became obvious that Caters actions and cabinet appointments only worked to serve corporate interests while harming the working class.

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J. Estrella Professor Robinson AMH-2020 27 November 2017 Thematic Review #2 Reaganomics Ronald Regan was born on February 6th 1911, he was an American Politician who became the 40th president of the united states in 1981. Ronald Reagan was a big influence on economic activity during the 80’s and 90’s of the 20th century his economic policy would create a prospering economy in the 90s. One of his most famous acts as president was signing the 1981 tax bill or known as the Economic Recovery Tax Act (ERTA). This act allowed a twenty-five percent cut in marginal taxes for people, which in theory would help the economy grow quicker through businesses and the people.

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During Reagan turn in Presidency he concentrated on foreign policy and the economy. He believed that America’s power was constrained by the government’s extreme regulations. Originally, Reagan had campaigned on restoring prosperity, on cutting intrusive government, and on strengthening American values. Reagan highlight was a formula called supply-side economics. His vision was to keep interest rates high to fight inflation, thus promoting economic growth, and to reduce the support for some social programs by removing some government regulations.

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This economic program was planned to promote economic growth, but instead it brought upon more economic burden upon the lower urban social class (Foner 2017). Reagan’s plan to tax the wealthy less to improve the lives of the poor did not pan out well to

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In a speech by Corretta Scott King he gives statistics on the matters of low income households. He states, “Despite repeated denials from the president himself, [Reagan] administration cuts have been targeted to families of moderate and low income. . . . Half of American families—those with incomes of less than $20,000 a year—have suffered 70 percent of President Reagan's budget cuts. . . . many Americans are no better off today than they were four years ago because Reagan's “unfair policies” have curtailed their freedom” (Scott King 1985).

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Reagan had the tendency to focus only on the “big issues” while the members of his Cabinet handled other matters. I found it intriguing that Reagan spent his presidency practicing a “hands-off management style” (Broussard 111). Reagan would make an executive decision on a matter, while others would put in work gathering information and coming up with policy alternatives. Broussard points out that Reagan’s concern while in office was inflation and “although he did not actually slay the beast…he left it weaker, wounded and far less dangerous” (Broussard 125). However, he also notes that battling inflation resulted in a serious recession and “the worst economic downturn…since the Great Depression of the 1930s” (Broussard 125).

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The United States of America is known to be the land of opportunity, and many presidents tried different kind of methods to change the US economy to the better. The Reganomics policy which is a policy by president Regan on how to change the course of the US economy. The Reganomics had good policies that made sense like reducing the growth of government spending which was a good point in order for the government to save its money. Reduce the marginal tax rates on income from both labor and capital which could help them pay less tax, and also reduce regulation which could benefit the people of the US, and also reduce inflation by controlling the growth of the money supply. This is an important fact because the growth of the money supply is very important.

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This would help increase production, jobs, and economic prosperity. He also urged for gov. Spending during economic turmoil to boost consumer income and demand, this was widely supported among Democrats. Many critics claimed this plan to be similar to Hoover’s “trickle-down economics”, which advocated reducing taxes on businesses and the wealthy. Congress passed the Economic Recovery Act of 1981, which included a 25% income tax decrease over a period of three years.

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As a result of the period of time he lived in and his upbringing in a small town, he knew the severity of which money could affect one's quality of life. Assisting the less fortunate escape poverty was important to him. Under his leadership, spending for basic low-income assistance program rose 40%. Reagan also worked to have Congress pass a legislation which worked on helping recover the economy as a whole. He introduced the Economic Recovery Tax Act of 1981, which in result decreased an individual’s income tax rates and the cost of private property.

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President Reagan’s began his presidency with the understanding that there were growing concerns felt by the American people concerning the events that were taking place within our nation (Schultz, 2013). Also, he realized that family values and a free market were probably the two areas that were most important to the citizens. He started his presidential legacy by cutting taxes, decreasing funds for social programs and by increasing military resources. His thoughts were that by cutting taxes that the government 's revenue would increase, thus, ensuring they could pay their debt instead of the taxpayers. Although, the changes in military funding and social programs led to a drastic increase in the nation 's debt that even

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These policies encouraged entrepreneurship, reduced government spending, and cut federal taxes to twenty-five percent. After a period of turmoil, “Reaganomics” improved the economy and restored America to its “rightful place in the world.” Once more, Americans

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President Ronald Reagan was responsible for guiding the economy during the 1980s. Under Reagan’s control, national debt rose past $3 trillion, and interest rates were high due to new tax reforms (“Reagan, Ronald,” 2015). Specifically, Michael focuses on impoverished children in “Man in the Mirror,” an issue faced in society in the 1980s(Lines 9-12). As a result of structural economic changes, about 20% of white children, and 45% of African American children were left impoverished in 1987 (Segal, 1991). Michael uses “Man in the Mirror,” as a way to protest the injustice children endured during this time, and encourages others to use their voice for those

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