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Essay / Research Paper Abstract
A 5 page paper reconciling the relationships between supply-side economics, tax cuts and the apparent route to the true reduction of national debt. Studies have shown that the most successful of the European countries working to bring their economies in line for membership in the EMU have been the ones that have combined governmental spending cuts with a resistance to raising taxes. Those that have cut taxes have performed well, but the most effective area of spending cuts has been that of public welfare and government wages. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: D0_Fiscal.rtf
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Unformatted sample text from the term paper:
Reagan administration, the author asks, "How much good has it done us? At first glance, not very much" (Evans 112). Citing unemployment rates that had increased 2.5 percent
while Reagan had been in office and high and rising long-term interest rates, Evans only gives passing mention to the inflation rate that had dropped from 13 percent to 4
percent in the wake of the first round of the Reaganomics tax cuts that were to total 25 percent when they were all finished. Evans reported that in addition to
the anticipated supply-side effects that had not materialized, that even demand-side effects had not been overly impressive since the first of the tax cuts. Demand-side is expected to turn
results quicker than supply-side, as there is no lag time involved awaiting investment decisions and then investment actions. Observers at the time were decrying the lack of demand-side effects
and pointing to the housing industry as their example. In both October 1981 and July 1982, the times of the first two tax cut rounds announced by Ronald Reagan,
"real sales declined after the tax cuts took effect" (Evans 112). Those expecting immediate results from the tax cuts, however, were placing misplaced faith in just what tax cuts can
and cannot accomplish, and the length of time necessary for those changes to take effect. Moving too fast with monetary policy changes can serve to create devastating effects if
those changes are too broad and too rapid, but the experiences of the late 1970s gave a full, clear lesson that measures that do not go far enough are just
as harmful as those that go too far at one time. Effective changes that are accomplished with the least amount of disruption yet yield the highest benefits take time
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