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Friday, December 10, 2004 

The Reagan Prophecies

As long as Bush adheres to the brilliance and guts of Ronald Reagan in his second term, America will continue to be the innovative leader in the world on almost all fronts.
Nearly a quarter-century after the Reagan earthquake first rocked our economy, the aftershocks are still a very real and continuing phenomenon. Every tax cut, every regulatory stranglehold broken, every economic shackle unlocked, and every despot or totalitarian regime toppled increases freedom, creativity and entrepreneurship. And in the ultracompetitive world that has sprung from the ashes, "old line" hegemony and subjugation lose their strength.

As Ronald Reagan said in 1981, "We who live in free market societies believe that growth, prosperity and ultimately human fulfillment, are created from the bottom up, not the government down. Only when the human spirit is allowed to invent and create, only when individuals are given a personal stake in deciding economic policies and benefiting from their success--only then can societies remain economically alive, dynamic, progressive and free. Trust the people."

Even Clinton was inspired by one of the greatest World Leaders in history:
President Clinton contributed to the Reagan revolution by declaring that the "era of big government is over." He signed into law welfare reform and Nafta, continuing the trend toward more personal responsibility, less government and more competition.

And the result?
In the past 24 years, the top marginal tax rate has been cut in half, while dividend and capital-gains tax rates have been reduced significantly. These lower tax rates have spurred massive new investment and attracted talent and brainpower from around the world. The U.S. has led the way in a global and technological revolution.

The result of these changes is a New World Order--one in which competition comes from everywhere. A growing number of people have "skin in the game" and a "personal stake" in public policy. This has created an American population, as we saw in the election, that values greater individual freedom and supports government actions that bolster economic growth and wealth creation, not wealth redistribution.

Even better, these policies have allowed an explosion in information dissemination and business ownership.
The Internet, its irreverent blogs and cable TV are making information ubiquitous and stealing market share from major networks. Minority groups have also been lifted by the years of strong growth. The entrepreneurial society has created opportunity for all and increased wealth for many. Union membership is declining, while stock ownership is rising. Tensions between labor, management and shareholders must be worked out in the marketplace. Free-market capitalism works best when business owners and investors work toward the highest possible profits, not toward the latest fad in social responsibility.

The foresight and steadfastness of the Reagan philosophy had altered the course of world history forever and for the better.
The U.S. is living through an entrepreneurial renaissance of historic proportions. It started 24 years ago and the tectonic plates continue to shift. Part of this process will be an accelerated upheaval in the centers of power. The Europeans are trying to move in this direction with a push towards freer labor markets and lower taxes. Many will fight this process every step of the way. Others will "trust the people."

We were blessed to live in the presence of this great and inspired man.

Click on our Hero to remember him.

Bush not only needs to adhere to Reagan's outlook on economy and foreign policy, but he needs to fix that border! I think that the issue could make him or break him.

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