Formerly chief executive officer at the investment firm of Merrill Lynch, Donald.T. Regan (b.1918) was appointed Secretary of the Treasury by President Ronald Reagan in 1981 and became the champion of Reagan's plan to cut taxes in order to stimulate investment. The Economic Recovery Act of 1981 introduced sweeping tax cuts, which especially affected big business. An undeviating champion of free enterprise, deregulation, and competition in American industry, Regan declared, "If you're going to be a capitalist, you have to believe in a free market economy."
The final result of the Reagan administration's revolutionary tax legislation was a twenty-five-percent reduction in federal income taxes. "The more I examine supply side economics, the more I find I've always been on this side. But I thought it was just old fashioned conservatism," he commented. Regan resigned in 1984 to become President Reagan's Chief of Staff. - Text Courtesy of the Office
of the Curator
Forgotten Founders Historic Documents and Coins of Freedom - By Stanley
L. Klos - Last Exhbit at the 2008 GOP Convention:
http://www.pinellasrepublican.org/
Forgotten Founders Historic Documents and Coins of Freedom - By Stanley
L. Klos
Uncommon Sense: President Obama and
US China Trade 1784-2009
The United Colonies 1st
government began in a Philadelphia Tavern
and the United States 1st federal government ended in a
NYC Tavern!
The Founders convened the government in 11 different capitol buildings and
experienced 15 years of challenges that
included war,
hyper-inflation, a failed
constitution, judicial corruption, armed citizen and U.S. Army rebellions.
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