The answer to your question is true.
In the United States, it would be the telephone industry that is often considered part of an oligopoly (among other things), since only a small handful of companies dominates the market.
According to the researches, Reagan did implement tax cuts. He did cut the corporate tax rates from 48 to 34 percent in order to combat inflation.
Inflation is where a sustained increase in the general goods and the services are attained in an economy in a period of time.
Reagan issued tax cuts including the 70 percent top tax rate and decreased it to 50 percent. It also says that Reagan had encouraged economic expansions that would be enough to widen the tax base over a period of time.
Although British Government is considered to be the authoritative and a gory revolution which paved way for the American Independence, a great inspiration can be drawn from the British Government which gave paramount importance to the Civil Rights and Democracy.
Before American Revolution, There existed two legislatures called the House of Commons and House of representatives. Even today, the sergeant at arms is a British culture.
The first sergeant at arms was appointed under the British King Henry 5. Sergeants at arms were appointed in the Senate at present.
