Donald Regan on the Bush Tax Cut

The Late Donald Regan on the Bush Tax Cut

OpinionJournal - Featured Article

As I interpret Mr. Bush's tax program, I think I see that he has tried to answer the same three questions that President Reagan always kept in mind--even though the economic problems he faces are different. We are not in a period of inflation. Quite the opposite; inflation and interest rates are at historic lows. We are, however, in the midst of a slow economic recovery, in which jobs are not coming back as quickly as we might have hoped. In fact, the whole economy is changing right before our eyes, and will continue to change. Unskilled or semiskilled jobs are going overseas, and jobs involving knowledge and skill--technology, specialized services, finance, health care, energy, entertainment and communications--are the growth areas here at home.