•• 2019-01-11 14:04:29 ••
Thirty years ago today President Reagan gave his farewell address:
Common sense told us that when you put a big tax on something, the people will produce less of it. So we cut the people's tax rates, and the people produced more than ever before. The economy bloomed like a plant that had been cut back and could now grow quicker and stronger. Our economic program brought about the longest peacetime expansion in our history: real family income up, the poverty rate down, entrepreneurship booming and an explosion in research and new technology. We're exporting more now than ever because American industry became more competitive, and at the same time we summoned the national will to knock down protectionist walls abroad instead of erecting them at home.