Ronald Reagans Domestic and Foreign Affairs Essay

I have decided to write my research paper on the topic of Ronald Reagans Domestic and Foreign Affairs. The reason that I choose this topic was because I have always been personally interested in Ronald Reagans time in office and the national crisis he had to deal with. Reagan was awesome when it came to foreign policy because he knew how to negotiate with foreign leaders and their countries to get what he wanted. There were several instances during his time in office that he had the chance to use his ability to get the country out of danger. Domestic Affairs is another part of Reagans presidency that was very important. He was able to take the country, which seemed to be in an economic slump and turn their economic status around.†¦show more content†¦This economic expansion and boost would occur through citizens who would spend the extra tax money on products and services in their geographical region or who would invest money into businesses in their area. The only pro blem for the government using this theory would be the initial revenues that the government would lose from the tax cuts. In theory the economic growth would eventually increase taxable incomes, this increase in taxable incomes should cause the governmental revenues to grow in the long run. With the idea of Reaganomics in mind President Reagan persuaded Congress to pass the Economic Recovery Tax Act, which is the first major step in his plan. This Tax Act called for a 25 percent tax cut that was implemented over a three-year period (David Mervin, 1990, 133-7). The only problem with this tax cut is the fact that it mainly benefited the upper - income taxpayers and large corporations. The reason that these groups were targeted is because there is more of a chance that they will invest their money in business programs that will promote economic growth. After this tax cut took effect the American people in the lower - income tax brackets were not pleased with the results. They seemed to be faced with an increase in their tax rates even though most of them were in the income categories below the national average. On the other end of the spectrum the people that were in the upper tax brackets were experiencing significant tax cuts. TheShow MoreRelatedLyndon B. W. Brand And Lbj s Written By Robert Dallek988 Words   |  4 Pagesmore about these presidents. However, throughout the reading of the two biographies, I found myself discovering more and more about these men, their personal lives, their accomplishments, and much more I never knew about them. These biographies, Reagan’s written by H. W. Brands and LBJ’s written by Robert Dallek, dive deep into each president’s backgrounds, and into their years in office. 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