REFLECTIONS ON REAGAN

[The Finman]

<h2><font color=#003399>REFLECTIONS ON REAGAN
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[img]http://groups.msn.com/_Secure/0SQD*Ap8Wg1gV4WnvAfIdR2PDiNejwByspukKO8qz4XZyea6DE x0qWER2Y3dmyOjbeFcghx7QsmVDJxeeYIHXlcKx5P!JoK39j7v XUM62cUp8w1H6713s9A/ronald-reagan.jpg[/img]Although I am a Libertarian and not a Republican -- and fight with those who are more conservative than I would like -- I do pause for a few minutes to reflect on a man born 95 years ago this Feb. 6 whom I believe to be the greatest president of the 20th century.

When Reagan came into office, there were 14 income-tax brackets, the highest of which was a staggering 70 percent. In eight years, Reagan pushed through two massive income-tax cuts that led to only two tax brackets and a top rate of 28 percent. Many economists have pointed out that the past two decades saw unprecedented economic growth and increasing government tax revenues due to the efforts of Reagan to free Americans from the shackles of the Internal Revenue Service tax code.

In addition, Reagan is also largely responsible for freeing hundreds of millions of citizens around the world from the grip of communism. If we believe Mikhail Gorbachev, Reagan played a far greater role in the demise of the Soviet Union than people give him credit for. With 45,000 nuclear weapons aimed at the U.S. and Western Europe, Reagan used his brilliant negotiating skills, faith in American technology and understanding of the economic struggles facing the USSR as a tool to force the Soviets to give in to virtually all of his requests. By the time he left office, much of the tyrannically controlled eastern half of the world was on the course of freer markets and freer republics.

When we consider that during the past 276 months, the United States has had merely 15 months of recessions and a robust 43 million jobs have been created, we should ask: How many recessions would we have had if not for these historic tax cuts and expanded free trade with nations that were formerly closed off to the world?

For such liberty, Reagan should never be forgotten. However, he did make one colossal mistake that threatens to undo much of his work.

On April 10, 1980, George H.W. Bush -- a rival of Reagan's for the Republican presidential nomination, was asked his view of Reagan's tax-cutting agenda. Bush called the idea "voodoo economics," and the term stuck with Reagan's critics.

Many have observed that on both economic and foreign-policy issues, Reagan did not view the elder Bush as strong enough to push liberty forward. Yet, Bush Sr. was a moderate voice from Texas. Reagan selected Bush as his running mate to help balance the ticket. The rest is history.


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