Tag Archives: economic inequality

Ronald Wilson Reagan was the 40th President of the United States. In his early carrier, he was an actor. He started his political carrier with the Democratic Party; but he switched to the Republican Party in 1962, got the nomination for presidency in 1980 and win the election in 1980 and 1984.

Reagan spoke of  “economic freedom” and proposed an “economic Bill of Rights.” He thought that economic freedom means “curtailing the power of unions, dismantling regulations, and radically reducing reducing taxes.” All his approaches to get the economic freedom were very supportive for the rich people, and it brings the huge economic inequality in society. In his two years presidency period, “the richest 1 percent of Americans owned 40 percent of the nation’s wealth.” Ronald also was the stronger supporter of supply-side economics, and sometimes his economical decision known as “Reaganomics.”