posted on June 15, 2009 2:04 PM
When Ronald Reagan took office, America’s top income tax rate was 70 percent; when he left, it was 28 percent. Reagan’s tax cuts were permanent (well, that is, until his successor George Bush broke a campaign pledge). And President Reagan pushed his tax cuts through a Democrat-controlled House of Representatives.
When George W. Bush took office, the top income tax rate was 39.6 percent; when he left, it was 35 percent. This small tax cut expires next year. And at the time he was promoting his tax cut, President Bush enjoyed a Republican-controlled House (which he continued to do until the Republican betrayal of conservative principles finally bit them in 2006).
Which man should we seek to learn from, to emulate? The one who pushed significant, permanent tax reform through a Democrat-controlled House of Representatives—and ushered in an era of robust economic growth? Or the one who settled for small, temporary tax reform, with a Republican House—and ushered in an era of robust government growth?