Reagan's 1981 Program for Economic Recovery had four major policy objectives: (1) reduce the growth of government spending, (2) reduce the marginal tax rates on income from both labor and capital, (3) reduce regulation, and (4) reduce inflation by controlling the growth of the money supply.ashington Post columnist Lou Cannon, in his book, President Reagan: The Role of a Lifetime, called Niskanen's book, Reaganomics, a definitive and notably objective account of administration economic policies.. Lindsey, Lawrence B. The Growth Experiment: How the New Tax Policy Is Transforming the U.S. Economy. 1990.