reaganomics

reagan wanted to shrink government's role in american life by cutting taxes, relaxing regulations on business, and reducing the amount of money spent on social programs. he began his first term by pushing through congress a $280 billion tax cut-the largest in history. a tax cut decreases the amount of money that the government takes from every worker's paycheck. reagan hoped these policies, dubbed "reaganomics," would help the economy grow, because people would have more money to spend on goods and services.