August 13,1981 President Reagan Signs The Biggest Tax Cut In History

ReaganTaxCut3

It was called the Economic Recovery Tax Act of 1981 and for 20 years it fueled a prosperous and growing economy.

Under the radar, the Clintonistas, the Bolshevik Left and now ObamaNation seek to convert that prosperity into permanent penury.

President Obama, tear down this tyranny!

Excerpt:
These bills that I’m about to sign — not every page — this is the budget bill, and this is the tax program — but I think they represent a turnaround of almost a half a century of a course this country’s been on and mark an end to the excessive growth in government bureaucracy, government spending, government taxing.

And we’re indebted for all of this — I can’t speak too highly of the leadership, Republican leadership in the Congress and of those Democrats who so courageously joined in and made both of these truly bipartisan programs. But I think in reality, the real credit goes to the people of the United States who finally made it plain that they wanted a change and made it clear in Congress and spoke with a more authoritative voice than some of the special interest groups that they wanted these changes in government.

This represents $130 billion in savings over the next 3 years. This represents $750 billion in tax cuts over the next 5 years. And this is only the beginning, because from here on now we are going to have to implement all of these, and it’s going to be a job to make this whole turnaround work. It’s going to be the number one priority — or continue to be the number one priority of our administration.

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