Ronald Reagan
From Mises Wiki
Ronald Reagan (February 6, 1911βJune 5, 2004) was the 40th President of the United States of America (1981β1989).
[edit] Presidency
Ronald Reagan was inaugurated on January 20, 1981.
[edit] Economic Policy
On August 13, 1981 Reagan signed the Economic Recovery Tax Act of 1981, reducing marginal tax rates for all levels of income in America.
Reagan increased FICA tax rates gradually from 6.13% to 7.51% throughout his presidency, a larger nominal increase than any President other than Nixon. The amount of taxable income was also raised from $25,900 in 1980 ($66,600 in 2009$) to $45,000 in 1988 ($80,600 in 2009$).
