All of the following are true statements about "Reaganomics" except Group of answer choices It is often referred to as "trickle-down economics" (cut taxes on the wealthy and they will invest more, with some of the benefits trickling down to the rest of Americans). It was the opposite of what he called the "voodoo economics" of George H. W. Bush. Using professor Laffer's arguments, Reagan believed that by cutting taxes you could stimulate the economy and thus increase tax revenues. Unfortunately the nation debt went from $1 trillion dollars to $3 trillion dollars during his administration. Deregulation was an important part of Reaganomics, but it also contributed to the decline of unions, benefit reductions for the poor, and the rise of Yuppies [income inequality]