Ronald Reagan's Tax Policy Essay
The year is 1980. The height of the Cold War was at its peak. The race for superior nuclear armament and a society trying to identify what direction their future was headed in were engulfing the nation. Yet, everyday President Ronald Reagan was seen smiling and seemingly in control. Perhaps he was. Despite social conflicts, the economy, which tends to control whether life is good or bad, was booming with a low unemployment rate, a small trade surplus, and a modest budget deficit. However, interest rates were in double digits as well as inflation and the national debt increased more than it had in 200 years. So what was going on? Was Ronald Reagan an economic mastermind or the man who ruined an …show more content…
Union addresses, commercial relations with foreign nations, veto power, and the ability to persuade public opinion via the media, Presidents now have the ability to make Congress write policy in the President's best interest. Though the President still cannot write economic policy, the American people hold him accountable for the failures and successes of the economy. A President's term partially rests on how the economy was during his term, with prosperity or recession playing a part in deciding the fate of the candidate's next four years (Diller 239). Political Scientist Clinton Rossiter:
"The people of this country are no longer content to let disaster fall upon them unopposed. They now expect their government, under the direct leadership of the President, to prevent a depression or panic and not simply wait until one has developed before putting it out. Thus the President has a new function which is still taking shape, that of Manager of Prosperity"(Diller 239).
Ronald Wilson Reagan was born on February 6th, 1911, to Jack and Nelle Reagan of Northern Illinois. Reagan took an obscure route to the White House. He went into broadcasting after graduating college in 1932. He entered into an acting career in 1940 and married actress Jane Wyman in 1941. In 1947 he entered the "political" arena, serving as President of the Screen Actors Guild labor