Reagan’s Understanding Of A Fair Tax System
By Ed Feulner, July 14, 2015 Daily Signal
President Reagan had a gift for proving his critics wrong. Almost none of the leading economists of the late 1970s thought that his supply-side, tax-cutting agenda, along with stable monetary policy and deregulation, could revive the U.S. economy.
But the prosperity of the 1980s, with growth rates higher than 6 percent, proved the Gipper correct. An economics major from Eureka College understood our free-market system better than the so-called experts at Harvard, Yale and MIT.
As the 2016 presidential campaigns gear up, Reagan’s policies are under assault again, this time even from some on the right. This new group, called “reformicons,” says that supply-siders are obsessed with cutting tax rates for the richest Americans at a time when middle-class tax cuts and tax credits should take precedence.
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