Tuesday, May 24, 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

Found: Sheltie/Terrier mix (maybe?), downtown Floresville, small, friendly, young dog. 830-393-8303 or 210-274-6884.
Reward! Lost: Fox Terrier, white and orange female, named Sara, no collar, went missing May 1, near F.M. 775 and 3432. Call Lindsay at 210-284-0094.

VideoFound: Australian Shepherd/Heeler mix, approx. 3 years old, near Lake Calaveras. Call 210-878-5075.
More Lost & Found ads ›

Help Wanted

Landscape Foreman Wanted, must have experience in masonry, irrigation, planting etc. Pay $12-$16 per hour. Call 210 494-6469 Hill Horticulture, Inc.
Momentum Physical Therapy & Sports Rehab is a successful group of Outpatient Orthopedic facilities looking for a motivated individual to join our team as a full time Physical Therapist for our Floresville location. We provide a friendly, positive environment while delivering high quality care to our patients and are looking for someone who shares the same work ethic. We are seeking: Graduate from an accredited college with an APTA curriculum. Outpatient orthopedic experience within a private clinic or hospital preferred. Current state of Texas license, CPR certification. Outgoing and energetic personality. New graduates are welcome to apply. We offer a competitive total compensation package including base salary plus sign on Bonus! We also offer an individual incentive plan, as well as a comprehensive benefits package including medical, dental, disability, life and a 401(k) plan, in addition to other outstanding benefits such as continuing education reimbursement and Paid Time Off. We are an Equal Opportunity Employer M/F/D/V. Lwelch@usph.com. 
More Help Wanted ads ›

Featured Videos





Video Vault ›
Richardson Chevrolet homeRE/MAX homeTNMC
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 | 2,864 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. Berger earns Ph.D. from Columbia University (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Brahma Happenings (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Burning body spurs murder investigation (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Can I negotiate? (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Narrow views promote intellectual, moral dry rot (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: The political climate in America goes from bad to worse (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Falls City ISD’s new K-12 building almost complete (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville parks master plan would relocate ball fields (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville parks plan wins council approval (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Foundation awards $9K in grants (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Foundation opens health grant process (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Graco recalls booster seats (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Grass fires on the rise (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: An open letter to Congress (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Illegal immigration: Who will laugh last? (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: What Hispanic vote? (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Lone Star Greys to meet (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: La Vernia City Council (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Poth ISD (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police recover one of two stolen trucks (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Register for free watercolor lesson (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Stockdale campus to get upgrade soon (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Stockdale City Council approves electronic payment processing (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. TAMU-SA matches student scholarships (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Time to make plans to attend Jubilee (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Want fire protection? Attend May 19 hearing (May 18, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Acme Gold Buyers marks fifth year in Floresville (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. All Veterans Job Fair (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Cemetery group to meet (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Children’s Alliance enhances care services (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. China Grove mayor, police chief trade barbs at meeting (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Commissioners lukewarm toward hot coffee at library (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Competency and integrity (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Coy to get Ranger Cross (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Cub Scout Roundup (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Donate blood in May (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editor: Trump’s candidacy sets in motion affliction in future elections (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: The voters have spoken — well, some of them have! (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Former Sutherland Springs VFD considered as a substation (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Free caregivers class starts May 26 (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Information sought in Walmart theft (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Lack of super majority vote keeps Clean Water Rule flowing (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Leetter: The government is a terrible investor (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Injection well site is near river, creeks (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Stop being negative (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. LV youths win new wheels at Bike Rodeo (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: La Vernia ISD (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Mineral rights workshop set (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Miss LV Pageant, Bluebonnet Parade, graduation fill La Vernia calendar (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. New Wilson County justice center nears completion (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Personalized brick for Veterans Memorial (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Precinct 3 primary runoff is May 24 (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Rangers to honor Lorenz (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Rohrs takes over Floresville athletics (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Tanneberger qualifies for Executive Club membership (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Voters respond: One bond passes, another fails (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Wednesday morning crash injures nine (May 11, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. AACOG plans public meeting (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Accident injures two drivers (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. AgriLife offers tips to protect from Zika, other mosquito-borne diseases (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Behind the lens: Solitary stillness (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Celebration Mass June 12 (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Cemetery association meeting (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Condos are fine, but do your research (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Crime Stoppers aids police anonymously (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. DA, DPS bust nets 86 charges (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Debate over citizens comments dominates Floresville council (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Dwellings At Home offers lodge, ranch furnishings, more (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Overbearing city council threatens boards’ independence (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Taking personal responsibility will bring possibilities (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Trump is the same old song with one more verse (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. FEDC tables recommendation of master parks plan (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. FELPS tornado repair continues as FEMA help stalls (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville Chamber Luncheon May 18 (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Hall of Fame inductees: Joe Kotwig, Malcolm and Beverly Talley (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Alamo Colleges: A bust for Floresville (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Local nursing homes plan Senior Olympics May 9-13 (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Look twice for motorcycle riders (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Lyssy’s vault earns gold, sets records! (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Medicaid, CHIP application assistance (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Wilson County Commissioners Court (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. National Day of Prayer May 5 (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Ramirez promoted to colonel (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Reserve a seat for SA Tea Party (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Tanneberger tops in sales (May 4, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Treviño prepares to take reins of East Central athletics (May 4, 2016)