Ronald Reagan s President Of The United States - 1166 Words

Within the past 30 plus years, there have been three main things that either have or still currently impact our society and generation in America as a whole; Modern Day Immigration, the concept of â€Å"Reaganomics†, and the terrorist attacks that occurred on September 11th, 2001 (also known as 9/11). For a variety of reasons, these things have turned into either political, economic, or societal issues (or often times a combination of the three). Over the years, these things have helped shape society into what we know and see it as today, for better or worse. One of the big aspects of Ronald Reagan’s tenure as President of the United States was his economic plan to combat inflation with the concept of Supply Side Economics (Brands, ch 31.5),†¦show more content†¦This would supposedly result in an economic boom that would result in more income for both the higher and lower class that would offset the rise of inflation. However, these tax cuts lead to record fede ral budget deficits, which also resulted in cutting funds from various social services and programs. While these deficits and social program cuts occurred, the national unemployment also rose to record highs, and the gap between working and upper classes only increased. To an extent, the large gap between economic classes still exists today, as the average income for those residing in the top 1% has risen astronomically (lecture topic 14b). It was also around this time that big chain companies such as Wal-Mart and McDonalds rose to prominence. In contrast to the original intent of Reagan’s plan, the heads of these large companies (i.e. most of the people residing at the top of the upper class economically) kept their extra money instead of using it to improve working conditions for their employees. This resulted in outsourcing jobs, expanding locations to different countries outside the U.S., and the lowering of workplace standards (Klein p. 236-237). Today, many of these pr actices are still in place, with numerous politicians still pushing a similar agenda of tax cuts for big corporations (many of which support said politicians). On the morning of September 11th, 2001, Islamic terrorists