follylama, I'm not nearly as thrilled with Reaganomics as you appear to be.....
Three snippets from Wikipedia on Reaganomics:
The policies were derided by some as "Trickle-down economics,"[2] due to the significant cuts in the upper tax brackets. There was a massive increase in Cold War related defense spending that caused large budget deficits,[16] the U.S. trade deficit expansion,[16] and contributed to the Savings and Loan crisis,[17] In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $700 billion to $3 trillion,[18] and the United States moved from being the world's largest international creditor to the world's largest debtor nation.[19] Reagan described the new debt as the "greatest disappointment" of his presidency.[18]
And.....
Another recent critique of Reagan's policies stem from Tax Reform Act of 1986 and its impact on the Alternative Minimum Tax (AMT). The tax reform was ostensibly to reduce or eliminate tax deductions. This legislation expanded the AMT from a law for untaxed rich investors to one refocused on middle class Americans who had children, owned a home, or lived in high tax states.[27] This parallel tax system hits middle class Americans the hardest by reducing their deductions and effectively raising their taxes. http://en.wikipedia.org/wiki/Reagonomics
Wouldn't "middle class Americans" be some of those who would be creating small businesses?
The job growth under the Reagan administration was an average of 2.1% per year, which is in the middle of the pack of twentieth-century Presidents.
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