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Reaganomics as voodoo economics

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Why were Reaganomics called voodoo economics by its critics? What made it controversial?

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The controversy behind Reaganomics was its primary assumption about economy in the first place.

The basic assumption behind Reaganomics is an idea sometimes termed "trickle-down growth." That assumption is defined as follows: if those who have the most money are allowed to pay less in tax to the governing authorities, the money they would have paid in tax ...

Solution Summary

The basic definition, assumptions, and problematic implementation of Reaganomics are discussed in brief.