I have recently read a book on Reaganomics and it caught my attention because I am also currently reading Peter Schiff's book: The Real Crash. The ideas in these books are extremely similar.. Take a look.
Goals of Reagonomics:
-Reduce tax rates to put more money back into American's pockets.
-Reduce Government spending.
-Support the Federal Reserve's plan to tighten the availability of money and combat inflation
-Deregulation hoping there will be reduced costs for businesses and consumers
-Increase interest rates
Schiff's Cure for our current economy:
-Deregulate/Slash Government programs
-Increase interest rates
-Reduce Government spending/no bailouts
-Cut taxes
-Manufacture and Produce more Capital
Cons of these ideas:
-Reaganomics led to a recession
-Reaganomics left a 2 trillion dollar debt
-Schiff's idea would lead to a recession
Pros: Reagonomics slashed inflation rates
1979: 13.3%
1980: 12.4%
1981: 8.9%
1982: 3.9%
1983: 3.8%
"Short term pain for a Long Term solution"
Schiff also says in his book that the medicine would be hard to swallow but you'll feel better in the end.
I just want people's opinions if these 2 ideas seem extremely similar to them as well.
Could Schiff have the same cure? Except what Schiff would do differently is slash most government programs, slash college student loans, and end the war. The reason Reaganomics left a 2 trillion dollar deficit was because of all the cutbacks. BUT Reagan himself didn't cut back spending like he planned, he spent trillions on the military(Cold War) and on his Star Wars defense system which never happened.
Goals of Reagonomics:
-Reduce tax rates to put more money back into American's pockets.
-Reduce Government spending.
-Support the Federal Reserve's plan to tighten the availability of money and combat inflation
-Deregulation hoping there will be reduced costs for businesses and consumers
-Increase interest rates
Schiff's Cure for our current economy:
-Deregulate/Slash Government programs
-Increase interest rates
-Reduce Government spending/no bailouts
-Cut taxes
-Manufacture and Produce more Capital
Cons of these ideas:
-Reaganomics led to a recession
-Reaganomics left a 2 trillion dollar debt
-Schiff's idea would lead to a recession
Pros: Reagonomics slashed inflation rates
1979: 13.3%
1980: 12.4%
1981: 8.9%
1982: 3.9%
1983: 3.8%
"Short term pain for a Long Term solution"
Schiff also says in his book that the medicine would be hard to swallow but you'll feel better in the end.
I just want people's opinions if these 2 ideas seem extremely similar to them as well.
Could Schiff have the same cure? Except what Schiff would do differently is slash most government programs, slash college student loans, and end the war. The reason Reaganomics left a 2 trillion dollar deficit was because of all the cutbacks. BUT Reagan himself didn't cut back spending like he planned, he spent trillions on the military(Cold War) and on his Star Wars defense system which never happened.
