The middle and lower classes were to benefit from Reaganomics as it leads to reductions in taxation, governmental policies, and inflation.
<h3>Who developed Reaganomics?</h3>
Reaganomics was developed by Ronald Reagan in the year 1981 to minimize the production cost of doing the business.
Reaganomics was composed of three policies namely, the regulation policy relates to deregulating the industries, the taxation policy relates to cutting down taxes, and the spending policy relates to a fall in the expenditure of government leading fall in inflation.
Therefore, Reaganomics has merely benefitted the lower and middle-income groups.
Learn more about the Reaganomics in the related link:
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