The Reagan years also saw oil fall from 35 a barrel to 10 a barrel which was a big stimulus to the economy (it was due to increased drilling worldwide and improvements in the mandated car mileage during the 70's and the rollover of the national car fleet).
The 80's economy also benefited tremendously from introduction of the PC in 1981 to business by IBM. Widespread use of programs like Visicalc and Lotus123 for spreadsheet applications and DBase IV and QuatroPro in Database apps, plus Word Perfect for word processing helped business reduce cost and improve profits, and the US was in the forefront and leading the world in productivity. This also led to huge exports of the US programming technology and cash inflows to the US.
Much of what happened in the 80's was not a result of the tax policy.
The deficit did quadruple under Reagan, from 700 billion to 2.8 trillion in 8 years, and we never got the sustained "supply side" effect, eventually leading Bush I (the elder) to break his campaign pledge and RAISE TAXES.
The 80's economy also benefited tremendously from introduction of the PC in 1981 to business by IBM. Widespread use of programs like Visicalc and Lotus123 for spreadsheet applications and DBase IV and QuatroPro in Database apps, plus Word Perfect for word processing helped business reduce cost and improve profits, and the US was in the forefront and leading the world in productivity. This also led to huge exports of the US programming technology and cash inflows to the US.
Much of what happened in the 80's was not a result of the tax policy.
The deficit did quadruple under Reagan, from 700 billion to 2.8 trillion in 8 years, and we never got the sustained "supply side" effect, eventually leading Bush I (the elder) to break his campaign pledge and RAISE TAXES.