According to American President Reagan' “supply-side” economic program, the reduction of taxes had to be the first measure to take to boost economic growth in the nation. Thus, at the beginning of his term, Reagan accomplished to reduce taxes to 25 percent for individuals and corporate for a three-year period, and eventually, he increased revenues from taxes as income levels grew. Reagan believed that a reduction of taxes would stimulate business growth and consequently, the economy would also grow and benefit all Americans.
