1980s Flashcards
0
Q
Reagan Revolution
A
- Lowered taxes
- Tax Reform Act
- Against role of big government
1
Q
President during 1980s…
A
Ronald Reagan
2
Q
- High interest rates to combat inflation
- Cutting taxes for wealthy people which allows them to spend more
- Idea of encouraging people to work hard because if they work hard to earn more they can keep more of their money
A
Side-economics
3
Q
Economy in 1980s: there was a boom in ___________ but not_________.
A
Boom in stock market but not in wages
4
Q
Reagan’s view on unions
A
NOPE did not like
5
Q
Biggest controversy under Reagan’s presidency
A
Iran-Contra Scandal: Contras Rebels looking to overthrow socialists in Nicaragua. Reagan administration wanted to support, but congress passed law that said they couldn’t.
Selling arms to iran, funnel those funds to contra.
6
Q
strategy orchestrated and implemented by the United States under the Reagan Administration to oppose the global influence of the Soviet Union during the final years of the Cold War.
A
Reagan Doctrine