Ronald Reagan
...ntributed to larger revenue for the government in the long run because the stimulus in the economy contributed to the fact that more people are paying taxes. Over 20 million broad-based jobs were created between 1982-89. Most of these jobs paid at least $10 an hour. The economic past has shown that wages rarely kept up with inflation. During the “Boom” wages and inflation were very closed matched, which created even more incentive for investment and consumerism. In 1982 Reagan passed a new job-training bill which gave able-bodied unemployed Americans temporary employment and experience in the work force. This bill gave the unemployed Americans a chance to work in the private sector which enable them an opportunity of self-fulfillment and self-respect. Immense job creation for female’s was extremely evident during the “Reagan Boom”. Many women decided to take career paths instead of staying home and raising a family. The only reason why the majority of American women chose career paths in the 80’s is because the Reagan tax cuts made it affordable to and private business was hiring. The unprecedented amount of broad-based jobs that were created during the “Reagan Boom” is considered to be one of the best ever in American history. Incomes had a significant upswing during the Reagan administration which was fundamental to the economic “boom” in the 1980’s. Median family income, median household income, and average household income went up every year during 1982-89. The income for female wage earners also increased during the period of 1982-89. Tax cuts gave the opportunity for private business to raise incomes. This proved true to Reagan’s policy of “trickle down economics”. This theory suggests that if wealthy business’s made more profit then it would eventually “trickle down” to the middle and lower classes. Small business’s were also enjoying higher profits due to a healthy economy which led to higher incomes for the entrepreneurs. Investors saw their stocks soar which led to high capital gains. Reagan also lowered the taxes for capital gains which gave investors more confidence and an encouragement to invest. All of these factors led to higher incomes and it created an America of booming materialism in the 1980’s. The standard of living increased during the “Reagan Boom”, and it was a direct result of the policies of Ronald Reagan. Higher incomes during the “Reagan Boom” resulted in people buying more material things. Housing became more affordable because people had more money to spend therefore actual home ownership increased during the years of 1982-89. Many working American’s began to buy more and new things. These things included stocks and bonds. The economic boom in the 1980’s resulted in heavy trading in Wall St. With industrial expansion and increased profits stocks kept on going up and this created incentive for people with modest incomes to invest. With the help of supply-side economics money speculators had more money to invest and with an increase of capital gains it ultimately lifted the general standard of living to a higher level for the majority of Americans. During the Reagan era labour disputes were handled firmly so that strikes and work stoppages would not hamper America’s economy and business dealings. Ronald Reagan was once a leader of an important union in his youth. In his acting years Reagan was president of the Screen Actors Guild. Reagan even led the initiative for more freedom of speech during the communist witch hunts in the 1950’s. Over the years Reagan developed strong conservative values and therefore had no interest in appeasing labour unions or any other leftists organizations during his Presidency. Reagan believed that the power of labour unions should be kept at a minimum to reduce the risk of work stoppages that would make American private business impotent . In 1981 the Professional Air Traffic Controllers Organization (PACTO) struck against the Reagan administration and went on strike. Reagan would not let his plan of economic prosperity in America be hijacked by organized undemocratic labour unions. Reagan wanted to make clear to the unions that their organizations can not manipulate big business in America. When Reagan learned that PACTO was being too unreasonable in their demands based on a new contract he then fired all of the strikers. Reagan went even further to demolish the union which eventually lost it’s labour certificate and went bankrupt. This set the standard to powerful labour in the United States not t...