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The Successes And Losses Of Ronald Reagan

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Presidents throughout time have all had major wins and losses. One important presidency from the 1980’s would be that of Ronald Reagan. Ronald Reagan’s presidency had a various amount of successes and failures. Mixed within domestic and foreign policy, these successes and failures have led to the policies seen today. Ronald Reagan had a plethora of successes throughout his presidency. “In 1981, Reagan persuaded Congress to reduce the top tax rate from 70 percent to 50 percent and to index tax brackets to take inflation into account” (Foner, 1036). These enactments caused a large reduction in domestic expenditures and designed the Economic Recovery Tax Act of 1981. These were created to lower federal revenues over 5 years, totaling $737 billion. Reagan also enacted supply-side economics. This was the theory that states that increased capital, labor, entrepreneurship and land are what drives economic growth. These factors of production are what the administration believed would benefit everyone. “Reagan reshaped the nation’s agenda and political language more effectively than any president since Franklin D. Roosevelt” (Foner, 1036). Citizens could tell that Reagan truly wanted to strengthen …show more content…

A combination of Reagan’s new policies, along with the rise of stock prices as well as deindustrialization created an even larger controversy of inequality. Another very large failure of Reagans presidency would be the Iran-Contra Affair, also known as the greatest scandal of his presidency. In this, “Reagan secretly authorized the sale of arms to Iran…In order to secure the release of a number of American hostages held by Islamic groups in the Middle East” (Foner, 1042). Although he had good intentions in saving these American hostages, he made a dumb decision in sending them weapons to do so, especially without the support of the administration and the

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