Ronald Wilson Reagan was the 40th president of America and he served between 1981 and 1989. Reagan was an actor in his initial career but he also served as Governor of California state before reaching on the Presidential seat. Ronald Reagan implemented several initiatives during his term and he left several legacies for the future generations to follow.
He regulated the supply of money and reduced taxes thus contributed very much to the economic growth of the United States. Due to all these actions of Reagan, he managed to reduce the expenditure of government and inflation rate.
When looking on another side of the coin, it can be seen that many attempts were made to assassinate Reagan during his tenure. Despite this major factor, Reagan continued to perform his duties as president and he was very stiff on Labor union.
Furthermore; Reagan declared a war against drugs and this resulted in Grenade Invasion. When the second reign of Ronald Reagan began as President of the USA, he was successful in ending the famous cold war and also stopped other illegal activities. Reagan’s achievements were very effective in the history of the United States but Reagan is still much underrated in the history of the United States.
Being the president of the United States, Reagan applied stagflation which was a mixture of double-digit economic shrinkage. In the same manner, to regulate the recession, he reduced the income tax considerably from twenty-eight to seventy percent during his tenure. This step of Ronald Reagan affected the cap of income tax and it also created an effect on the rate of corporate tax.
Reagan also planned to initiate a low government budget with basic purpose was to reduce the inflation rate and supply of money. The economic policies of Ronald Reagan are known as Reaganomics is Economic stakeholders of the United States. Before Ronald Reagan became president, a liberal benefit state was established in the past fifty years.
The economic policies or Reaganomics created a vital conservative attack on that liberal state of the country. The policies of Ronald Reagan majorly based on supply-side economics theories which declared that reduction in taxes increases the economic growth of the country as the tax base is increased due to low tax rates. Before Reagan became president of the United States, the tax rate was on the lowest side of history and it resulted in revenue loss.
Reagan was successful in illustrating the fact that by decreasing tax rates, the effected revenue loss due to a low number of taxpayers can be stabilized. This policy of decreasing the taxes was supported by the government allies and also by the critics of Ronald Reagan. The ending stage of Reagan’s tenure is seen as strengthening the face of the country’s economy which caused America to be a center of the world economy.
Inflation in the market was caused as equilibrium was affected by Nixon-era prices. These Nixon-era prices were removed by Regan and he also ended the controls on oil, gas and television services as well as cable phone. Ronald also communicated that the ocean shipping and regional bus services would have no price control which caused a boost in the economy of the United States.
Another part of Reaganomics was easing the bank regulations. The banks during Reagan’s tenure started to participate in the real estate projects due to the removal of loan to value ratio by Regan. Further; he reduced the budgets and costs of different departments and it increased investments in the country during the late 1980s.
As it is visible that Reagan’s economic policies were helping the United States but some peoples were still cursing the Government of Ronald Reagan. The investors were going through various regulations and the market procedures which had no price control were still examined strictly. The tax cuts by President Reagan were debated majorly in the country and some critics said that after being seriously wounded in a life-ending attack, Reagan used his injury as an emotional shield to pass the tax reduction bill from congress.
However; despite the arguments of critics, Reagan’s tenure is still remembered as a turning point of the economy of the United States. Despite every successful policy, Reagan applied during his tenure, he was still an underrated President of the country.
Tax cuts and the end of inflation were major steps in the economy of the USA. Reagan was underrated due to the heavy debt being imposed on the country that had to be removed by the coming presidents of the United States through the imposition of taxes.
Ending the Cold War
During 1947 and 1991, a military confrontation was continued between the United States and Soviet Union in which the Western block was conquered by the USA while Eastern block was ruled by the Soviet Union. It is stated that the US economy before the starting of the cold war was established and solid.
But as the cold war began to get heated, weapons used in battles became a common language between countries for creating threats or for even passing the information. Reagan is included in the list of personalities that caused the ending of the cold war. Ronal Reagan when he became president he passed a Reagan Doctrine which was a plot of United States’ cold war policies directed to the third world.
In the Reagan Doctrine, military and economic support were offered to the dictatorships of all developing countries of the third world by the United States. Reagan at the same time increased the strength of opposition militants of governments supporting the Soviet Union. Reagan wanted to cover Soviet socialism by moderating and reversing its gains. The system of free-market established by Ronald Reagan was more powerful than the system created by the Soviet Government.
The policies of Ronald Reagan during the cold war were focused on increasing the peace in the international environment by creating democracy and by reduced the socialism of the soviet union. The Soviet Union’s socialism was more weakened and destroyed by technological advancements in the USA.
It caused a negotiation on decreasing the nuclear weapons made by the United States, which resulted in the ending of communism from central Europe and Eastern Europe. Ronald Reagan contributed very much to end the cold war, a war that engaged the lives of innocent citizens of the United States.
During his political life, Reagan was focused on making the livings of people better. But still, despite all his efforts to reduce communism, Reagan is underrated as President of the United States and he deserves to be treated well for his achievements in the country.
John Hinckley attempted an unsuccessful assassination attempt in 1981 by shooting different individuals and President Reagan was one of those individuals. Reagan’s heart was very damaged by the effects of the bullet but Reagan survived that assassination attempt and he recovered very well.
Later on, he even continued his presidential duties. However; due to the assassination attempt, major changes were made related to the procedure of the President’s security provided by secret services. Different debates were launched on the gun control of security officials and it caused the establishment of powerful secret services in the country.
Despite the potential assassination, Reagan continued to appear in public events fearlessly. The assassination attempt resulted in the making of new rules for the national defense. Reagan should have been seen as a valued president rather than being a scorned leader. People of that particular era believed that despite a major victory on the Soviet Union, Reagan’s foreign policies related to other countries were disastrous.
Reagan is not only a national hero but he is a legend in the history of the United States. Reagan majorly contributed to the economy of the United States by controlling the inflation rate. Furthermore; the cornerstone of Ronald Reagan’s policy is his role in the cold war. He is still accepted as a reason for ending the Cold war.
Reagan was attacked and nearly assassinated in his tenure but still, he fearlessly continued to serve the peoples of the United States. Therefore; Reagan should be seen as one of the most loved Presidents in the history of the United States. But still, some of the peoples and especially his critics are unable to see the importance of Reagan’s policies in the development of the United States.