Friday, February 12, 2016
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search


Preview the Paper Preview the Paper

Preview this week's Paper
A limited number of pages are displayed in this preview.
Preview this Week’s Issue ›
Subscribe Today ›

Lost & Found

Lost: Female German Shepherd, about 2 years old, pink collar, lost from Hickory Hill/Great Oaks Subdivisions off FM 539, La Vernia, on Thurs., Feb. 4. Reward! 830-947-3465.

VideoMissing: Male Boxer, since evening of Jan. 4, Hwy. 97 West, rear of Promised Land Creamery, $500 REWARD. Call 830-391-2240 with information.

VideoLost dog! Two weeks ago our dog went missing. Black lab mix. About 2 years old. He has a scar on his belly and a black tongue. Please call 8305835601
More Lost & Found ads ›

Help Wanted

Seeking individual to work in a local child-care center, paid holidays, etc., must be high school grad or GED. Apply in person at Cubs Country Childcare, 212 FM 1346 in La Vernia.
Although we make every effort to spot suspicious ads before they run, one may occasionally get into print. If that happens, we ask the consumer to call us ASAP so that we can take corrective action.
More Help Wanted ads ›

Featured Videos





Video Vault ›
TNMCRE/MAX homeRichardson Chevrolet home
You’ve been granted free access to this subscribers only article.

Section A: General News


Editorial: Obama should study history of Reaganomics




E-Mail this Story to a Friend
Print this Story
Guest Editorial
March 12, 2014 | 2,827 views | Post a comment

By Dr. Paul Kengor

On Feb. 25, the Center for Vision & Values at Grove City College hosted its eighth Ronald Reagan Lecture, a much-anticipated annual event. This year featured Art Laffer and Roger Robinson. Laffer is the namesake of the Laffer Curve, a cornerstone of President Reagan’s supply-side economic policies. Robinson spearheaded the extraordinary economic-warfare campaign against the Soviet Union for Reagan’s fearless National Security Council.

The discussion covered many issues, including how the policies pursued by Ronald Reagan to stimulate economic growth were so completely different from Barack Obama’s. It’s worth highlighting those differences here. We ignore them at our peril.

Reagan inherited an abysmal economy from Jimmy Carter. His prescription for recovery rested on four pillars: tax cuts, deregulation, reductions in the rate of growth of government spending, and carefully managed growth of the money supply. He wanted to stimulate economic growth via tax cuts, allowing the American people to keep their money and invest it more wisely and efficiently than government.

This was, in effect, private-sector stimulus -- a stark contrast to President Obama’s massive $800 billion public-sector (read: government) “stimulus” in 2009. Among Reagan’s tax cuts, the federal income tax reduction was the centerpiece. Reagan secured a 25 percent across-the-board reduction in tax rates over a three-year period beginning in October 1981. Eventually, the upper-income rate was dropped from 70 percent to 28 percent.

In the process, Reagan also dramatically simplified the tax code. When he was inaugurated, there were 16 separate tax brackets. When he was finished, there were only two. Not only did this simplification eliminate complexity, it also eliminated loopholes and removed 4 million working poor from the tax rolls; they no longer paid any federal income tax.

Reagan presided over the largest tax cut in American history and accomplished it in tandem with a huge Democratic Party majority in the House. It was a bipartisan triumph that The Washington Post called “one of the most remarkable demonstrations of presidential leadership in modern history.” Unlike President Obama, who derided his Republican congressional opposition as “hostage takers” and denounced their desire for tax cuts, Reagan found a way to work with the opposition to advance the country.

After a slow start through 1982-83, the stimulus effect of the Reagan tax cuts was unprecedented, sparking the longest peacetime expansion/recovery in the nation’s history: 92 consecutive months. The bogeymen of the 1970s -- chronic unemployment and the deadly combination of double-digit inflation and interest rates -- were vanquished. The poverty rate dropped; the standard of living soared. The Dow Jones industrial average, which, in real terms, had declined 70 percent from 1967-82, nearly tripled from 1983-89.

Contrary to liberal demonology, African Americans and other minorities did extremely well during the Reagan years. Real income for a median African American family had dropped 11 percent from 1977-82. But from 1982-89, coming out of the recession, it rose by 17 percent. In the 1980s, there was a 40 percent jump in African American households earning more than $50,000.

African American unemployment (which has increased significantly under President Obama) fell faster than white unemployment in the 1980s. The number of African American-owned businesses increased by almost 40 percent while the number of African Americans enrolled in college increased by almost 30 percent (white college enrollment increased only 6 percent).

There were likewise impressive numbers for Hispanics and women. Hispanic-owned businesses in the 1980s grew by an astounding 81 percent and the number of Hispanics in college jumped 45 percent.

Overall, the “Reagan Boom” not only produced widespread prosperity but -- along with the attendant Soviet collapse -- generated budget surpluses in the 1990s. Carter-era terms like “malaise” and “misery index” vanished. Only during the Obama years, and specifically in 2011, has America re-approached similar misery-index levels, reaching a 28-year high.

All of this is not just history. It’s a crucial economics lesson that we need to learn and remember. We neglect it to our detriment.

Dr. Paul Kengor is professor of political science and executive director of The Center for Vision & Values at Grove City College.
 

Your Opinions and Comments


Be the first to comment on this story!


You must be logged in to post a comment.




Not a subscriber?
Subscriber, but no password?
Forgot password?

Section A: General News Archives


Full article available to Wilson County News subscribers only. Click here to subscribe. Agencies nab 7 in human-trafficking sting (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Apply now for Miss La Vernia Pageant (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Behind the lens: Hitting the trail (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. BPA students advance to state (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Bud Box ends two-decade career at alternative school (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Chamber to hold monthly luncheon (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. China Grove mayor, police chief clash (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Commissioners amend Kicaster-area fire coverage plan (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Dating and the budget (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Donate blood to save lives (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: It’s about ‘We the People’ … what will ‘we’ do? (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: National election: Iowa down, New Hampshire to go (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Firefighters plan Pancake Breakfast (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville mayor to councilman: Sit down or else (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville park’s erosion problems prompt action (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Free heart health screenings (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. H-E-B ice cream recall (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. La Vernia trustees consider $33.2M bond, approve new finance chief (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Lean meat still part of a heart-healthy diet (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: House fire victim extends gratitude (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Pastors should keep out of politics, stay in church (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Unruly government needs discipline (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Writer says it’s okay to ignore the charter (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Evergreen Underground Water Conservation District (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Floresville Planning & Zoning Commission (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: St. Hedwig City Council (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Oil, gas leasing workshop Feb. 22 (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. One-stop tax shop? (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Petition supporters plan protest rally (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Presidents’ Day office closures (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Register for Great American Cleanup (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Save the date for ‘Hope in High Cotton’ (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Should Christians support sanctuary for illegal aliens? (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Stockdale supports apartment venture (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Things are looking up in downtown Stockdale (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. ‘Official oppression’ or ‘criminal trespass’? (February 10, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Agencies uncover $400K in stolen vehicles, parts (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. China Grove begins vote on tax rollback (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Clock running out for Floresville recall issue (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Connally expands high-tech health care (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Council action changes boards (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Deputies charge Floresville spurned lover with arson (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Deputies investigate recent thefts (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: The demand for villains (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: What’s in a city charter? Is it like a … Constitution? (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Eight-liner opponents face deadline (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. FELPS pools tornado damage claim with city, Floresville ISD (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville USDA accountant resigns (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Free CERT disaster course (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Get a free heart health screening in Kenedy Feb. 12 (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Greater LV Chamber to meet (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. H-E-B recalls cookware (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Hold on for now (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. It’s all happening at Nixon-Smiley Elementary (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Kicaster area will have fire coverage (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Landfill welcomes China Grove junk (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Apple Pie author extends thanks (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Gonzales differs with writer’s conclusion (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Talamantez truly a man of the people (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Life Line Screening event set in Floresville Feb. 28 (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Mock Republican Debate Feb. 20 (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Nixon-Smiley livestock show set for March (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. One dead in game-room robbery (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Pioneer Award honors Burnside (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Pirates Cove in Poth offers after-school care service (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Save the date for Lincoln Dinner (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. School district cops ink deal with city, county (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Second responders to meet (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Stockdale, La Vernia units respond to back-to-back fires (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Tanneberger is top agent (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Weigh in on Loop 410 changes (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Wilson County Hermann Sons lodges meet new-member goal (February 3, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. ‘Loving’ heart-shaped treats are for the birds (February 3, 2016)