Actions - Using documents 4 - 6, make three claims about the actions President Reagan and his administration undertook in order to foster economic growth. Be sure your claim explains how the action taken would foster economic growth. Support each claim with evidence from at least one document. Document 4 The business of our nation goes forward. These United States are confronted with an economic affliction of great proportions. We suffer from the longest and one of the worst sustained inflations in our national history...Idle industries have cast workers into unemployment... Those who do work are denied a fair return for their labor by a tax system which penalizes successful achievement…. In this present crisis, government is not the solution to our problem; government is the problem… The solutions we seek must be equitable, with no one group singled out to pay a higher price.…But great as our tax burden is, it has not kept pace with public spending. For decades we have piled deficit upon deficit, mortgaging our future and our children's future for the temporary convenience of the present. To continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals. Well, this administration’s objective will be a healthy, vigorous, growing economy that provides equal opportunities for all Americans, with no barriers born of bigotry or discrimination. Putting America back to work means putting all Americans back to work....All must share in the productive work of this “new beginning,” and all must share in the bounty of a revived economy. ...It is time to reawaken this industrial giant, to get government back within its means, and to lighten our punitive tax burden. And these will be our first priorities, and on these principles there will be no compromise. Document 5 …Reagan’s economic program had two major components: tax reductions and budget cuts, which took center stage, and monetary policy, which was as important but held a lower profile. Within weeks of becoming President, Reagan asked Congress to cut marginal tax rates over the next three years by 30 percent and to trim the budget for the coming year by $41 billion. He and his team confidently predicted that these actions would stimulate economic productivity.… After compromises that slightly lessened the tax cuts and restored some of the proposed budget cuts, Congress quickly passed both bills. The heart of Reagan’s economic program was now in place. He had obtained a 25 percent reduction in taxes over three years. Supposedly, Congress had also made $38 billion in budget cuts but these were more than offset by other spending increases… The federal budget still was not balanced, however, and Reagan’s advisers contemplated other measures to increase revenues. In 1984, the Treasury Department began pulling together a proposal that would lower corporate and individual tax rates but broaden the federal government’s tax base—and enlarge its revenues despite rate reductions—by closing loopholes that allowed individuals and corporations to avoid taxes and eliminating deductions that the government considered tax shelters. This plan emerged as the essence of Reagan’s tax reform proposal… Ronald Reagan took office in 1981 promising to curb the growth of government regulations, especially those that affected private industry and businesses. He believed that a web of regulation was strangling private enterprise in the United States and harming the nation’s economy.… Despite Reagan’s anti-regulatory rhetoric, the administration’s success in eliminating and simplifying regulations was mixed. His success varied from agency to agency; in some of them, Reagan appointees managed to slow the regulation...

Question

Actions - Using documents 4 - 6, make three claims about the actions President Reagan and his administration undertook in order to foster economic growth. Be sure your claim explains how the action taken would foster economic growth. Support each claim with evidence from at least one document. Document 4 The business of our nation goes forward. These United States are confronted with an economic affliction of great proportions. We suffer from the longest and one of the worst sustained inflations in our national history...Idle industries have cast workers into unemployment... Those who do work are denied a fair return for their labor by a tax system which penalizes successful achievement…. In this present crisis, government is not the solution to our problem; government is the problem… The solutions we seek must be equitable, with no one group singled out to pay a higher price.…But great as our tax burden is, it has not kept pace with public spending. For decades we have piled deficit upon deficit, mortgaging our future and our children's future for the temporary convenience of the present. To continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals. Well, this administration’s objective will be a healthy, vigorous, growing economy that provides equal opportunities for all Americans, with no barriers born of bigotry or discrimination. Putting America back to work means putting all Americans back to work....All must share in the productive work of this “new beginning,” and all must share in the bounty of a revived economy. ...It is time to reawaken this industrial giant, to get government back within its means, and to lighten our punitive tax burden. And these will be our first priorities, and on these principles there will be no compromise.     Document 5 …Reagan’s economic program had two major components: tax reductions and budget cuts, which took center stage, and monetary policy, which was as important but held a lower profile. Within weeks of becoming President, Reagan asked Congress to cut marginal tax rates over the next three years by 30 percent and to trim the budget for the coming year by $41 billion. He and his team confidently predicted that these actions would stimulate economic productivity.… After compromises that slightly lessened the tax cuts and restored some of the proposed budget cuts, Congress quickly passed both bills. The heart of Reagan’s economic program was now in place. He had obtained a 25 percent reduction in taxes over three years. Supposedly, Congress had also made $38 billion in budget cuts but these were more than offset by other spending increases… The federal budget still was not balanced, however, and Reagan’s advisers contemplated other measures to increase revenues. In 1984, the Treasury Department began pulling together a proposal that would lower corporate and individual tax rates but broaden the federal government’s tax base—and enlarge its revenues despite rate reductions—by closing loopholes that allowed individuals and corporations to avoid taxes and eliminating deductions that the government considered tax shelters. This plan emerged as the essence of Reagan’s tax reform proposal… Ronald Reagan took office in 1981 promising to curb the growth of government regulations, especially those that affected private industry and businesses. He believed that a web of regulation was strangling private enterprise in the United States and harming the nation’s economy.… Despite Reagan’s anti-regulatory rhetoric, the administration’s success in eliminating and simplifying regulations was mixed. His success varied from agency to agency; in some of them, Reagan appointees managed to slow the regulation...

Bot GPT 3.5 · Answer

1. President Reagan and his administration undertook tax reductions and budget cuts in order to foster economic growth. This action would stimulate economic productivity by putting more money back into the hands of taxpayers and reducing government spending. Document 5 supports this claim, stating that Reagan asked Congress to cut marginal tax rates by 30 percent and trim the budget by $41 billion, with the goal of reviving the economy. 2. President Reagan and his administration focused on reducing government regulations that affected private industry and businesses in order to foster economic growth. This action would alleviate the burden on businesses, allowing them to operate more efficiently and effectively, ultimately leading to economic growth. Document 5 indicates that Reagan believed that excessive regulation was harming the nation's economy, and his administration worked to eliminate and simplify regulations to support private enterprise. 3. President Reagan and his administration proposed tax reform that would lower corporate and individual tax rates while broadening the federal government's tax base in order to foster economic growth. By closing loopholes and eliminating tax shelters, this action aimed to increase government revenue despite reducing tax rates, ultimately contributing to economic growth. Document 5 mentions that the Treasury Department developed a tax reform proposal that would increase revenues through a combination of rate reductions and base broadening.