Con­trast

The Washington Times Weekly - - Letters To The Editor -

Both Pres­i­dents Rea­gan and Obama in­her­ited dis­as­trous economies that could have re­sulted in a 1930s type de­pres­sion. But the dif­fer­ences in the two pres­i­dents are stark.

Af­ter four years of So­cial­ist Demo­crat Pres­i­dent Carter, Cap­i­tal­ist Repub­li­can Pres­i­dent Rea­gan had to con­tend with dou­ble digit un­em­ploy­ment/inflation, sky­rock­et­ing mort­gage rates and an econ­omy that was in the tank. He im­me­di­ately cut top in­come tax rates from 70 per­cent to 28 per­cent, in­creas­ing fed­eral tax rev­enues near the end of the 1980s by $1.1 tril­lion, which con­trib­uted to the re­duc­tion of the fed­eral deficit from 6.3 per­cent of GDP in 1983 to 2.9 per­cent in 1989. Real per capita af­ter tax in­come rose by 19 per­cent in the ’80s, nearly dou­bling the rate in the ’70s. The Rea­gan tax cuts pro­duced a 76% per­cent jump in new busi­ness in­vest­ment in real dol­lars and tripled the rate of growth pro­duc­tiv­ity in the ’80s. The Rea­gan boom lasted 25 years.

Now, what can we ex­pect from So­cial­ist Obama and his left­ist con­trolled Congress? He/they will push for higher taxes; im­ple­ment gov­ern­ment con­trols to meet the imag­i­nary threat of man-made global warm­ing; plunge Amer­ica into the in­ef­fi­ciency known as so­cial­ized medicine; per­pet­u­ate the great lib­eral death wish of un­re­stricted im­mi­gra­tion and pur­sue ap­pease­ment of Amer­ica’s en­e­mies that could very well cause an­other 9/11. Their porku­lus bills will drive Amer­ica into a debt that our grand­chil­dren and great-grand­chil­dren will not be able to re­cover from. Sam Patti Mi­ra­mar Beach, Florida

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