President Jimmy Carter and Big Government Spending Essay

Although Carter was a likable man, the role of president was not the job for him. His big government spending and policies were responsible for leading our fragile country into one of the worst economic recessions ever. However, this all changes in January of 1981 when President Ronald Reagan was sworn into office and came to our country’s rescue. Reagan stepped in ready to mend the deep scars left behind by setting forth an economic plan, Reaganomics, in hopes to bail out our sinking country. Though many may say Reagan’s conservative ways had this plan favoring the upper class, this was not the case. In 1981 President Carter handed his duty to Ronald Reagan in a vulnerable time for the country. America was in an economic recession where†¦show more content†¦Supply-side went off the idea that, â€Å"tax rates affect a person’s incentive to work, save, and invest. To put it simply: lower tax rates create more economic energy, which generates more economi c activity, which produces a greater flow of revenue to the government† (Gramm, Phil). This was known as the Laffer Curve. When Reagan first came into office he was dealing with marginal rates at about 70% of returns on savings and investments, but as he left office, 33% was the highest rate in the tax code which even dropped to 28%. These tax rates led the nation to one of the longest peacetime recoveries economically (Gramm, Phil). Before people can blame Reagan for stealing from the poor we must look at the overall effects of his plan that seemingly led America out of a deep recession. First of all, the tax cuts that he implemented were for ALL Americans. That means the rich, the poor, African Americans, and even the disabled. These tax cuts were a positive incentive for everyone, which in turn helped to stimulate the economy. In Reagan’s Radio Address to the Nation in 1983 he explains how much trouble Carter’s double-digit inflation negatively affected the c ountry. The government was faced with large deficits and record high interest rates. Of course with the devastating numbers, the poor were scrambling to keep their heads above water and consequently many plummeted into deep poverty. With the poverty level sky-rocketing, any effort Reagan made toShow MoreRelatedRonald Reag A Beloved American President869 Words   |  4 PagesReagan was a beloved American president. However, he didn’t represent the prodigious archetype all citizens should follow. Reagan declared that the â€Å"government isn’t the solution to our problem† rather, â€Å"the government is the problem†. He decried that years of new deal-style tax- and- spend programs created a federal government that reminded him of a create who was all appetite at one end with no sense of responsibility on the other. 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