What were two major components of Ronald Reagan's economic plan?

Reagan's domestic economic policy centered on the "Trickle Down" policy -- reduce or eliminate regulations on businesses and give tax breaks to the highest economic earners, and the benefits would trickle down to the lower economic classes.

Unfortunately, Reagan forgot to take into account the reason that the top economic class is rich: They keep their wealth and accumulate more while spending the least possible. With deregulation, the CEO's found even more loopholes to save on the taxes they weren't paying.

The Trickle Down theory was also known as "Reaganomics."