The answer is true i hope this answers your question.
Answer:
Reagan inherited an economy mired in stagflation. It's a combination of double-digit economic contraction with double-digit inflation. To combat the recession, Reagan aggressively cut income taxes from 70 percent to 28 percent for the top tax bracket. He cut the corporate tax rate from 48 percent to 34 percent. He promised to slow the growth of government spending and to deregulate business industries.
Explanation:
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The correct answer is the regulators. They were like a group of vigilantes who decided to close down public institutions and prevent the politicians from collecting taxes or the institutions from working properly because they believed that it all just works in favor of South Carolina's wealthy people.
