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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