The Significance of Ronald Reagans Tax Reform Act of 1986

This investigation assesses the significance of Ronald Reagan’s Tax Reform Act of 1986 in the overall decrease of unemployment levels during the last year of his presidency, 1989. Reagan’s Tax Reform Act is analyzed in comparison to other economic and political events taking place during his presidency; the Act’s policies and implementations are investigated and evaluated for their effectiveness in economic recovery, the role of the Keynesian economic cycle during his presidency, and the policies of previous presidencies that lapsed into Reagan’s. Economic Analyses and Historical encyclopedias are used to evaluate the Tax Reform’s significance. Two of the sources used in the essay, Reaganomics : An Insider’s Account of the Policies and the People by William A. Niskanen, and Why Reaganomics and Keynesian Economics Failed by James E. Sawyer are evaluated for their origins, purposes, values and limitations. B. Summary of Evidence Throughout most of the seventies, the American economy underwent a period of turmoil that included low economic growth, high inflation and interest rates and a pending energy crisis. 1979 saw a significant rise in oil prices. In effect, the Tax Reform Act of 1986 revised and simplified the standing US Federal tax code, designing it so that it was more fair, efficient, and far reaching . The Act’s primary objectives were to ensure that individuals with similar incomes paid similar amounts of tax, personal and corporate taxes rates were reduced toShow MoreRelatedSoft Power6538 Words   |  27 PagesUnited States are deficient in some respect. The Soviet Union lags economically, China remains a less-developed country, Europe lacks political unity, and Japan is deficient both in military power and in global ideological appeal. If economic reforms reverse Soviet decline, if Japan develops a full-fledged nuclear and conventional military capability, or if Europe becomes dramatically more unified, there may be a return to classical multipolarity in the century. But barring such twenty-first Read MoreFundamentals of Hrm263904 Words   |  1056 Pagespublication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to theRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesAutobiography Allida M. Black, ed., Modern American Queer History Eric Sandweiss, St. Louis: The Evolution of an American Urban Landscape Sam Wineburg, Historical Thinking and Other Unnatural Acts: Charting the Future of Teaching the Past Sharon Hartman Strom, Political Woman: Florence Luscomb and the Legacy of Radical Reform Michael Adas, ed., Agricultural and Pastoral Societies in Ancient and Classical History Jack Metzgar, Striking Steel: Solidarity Remembered Janis Appier, Policing Women: The Sexual