Reaganomics Law and Legal Definition
Reaganomics refers to the economic policies under the Reagan administration, which emphasized low taxes, low social services spending, and high military spending. It was characterized by low interest rates, low inflation, and large budget deficits.
Reagonomics espoused the belief that excessive taxation was a major factor in the struggling economy. The economic plan called for massive tax cuts in order to stimulate investments, on the thoery that economic growth would then "trickle down' to the workers.
