During the 1980's President Ronald Reagan's (our 40th president from 1981 to 1989) domestic policy of a substantial tax cut led to greatly increased economic prosperity for our country. During Reagan's administration marked changes were made to the tax code and economic statistics showed a major change for the better. However, at the same time, the Democrats controlled the Congress and continued increased spending against Reagan's wishes.

The Joint Economic Committee stated that an across-the-board tax cut was not new. In the 20's the Mellon tax cuts were implemented by Secretary of Treasury Andrew Mellon during the Administrations of Hoover, Harding, and Coolidge. In the 60's Kennedy introduced tax cuts. In both instances the decrease of high marginal tax rates somehow increased tax payments by the rich. Perhaps a foreshadow of things to come.

Debates were raging over the Reagan tax cuts, known as the Economic Recovery Tax Act of 1981 (or, ERTA). This act was designed to spur savings, investment, work, and economic efficiency. This policy would impose a 25% across-the-board cut in personal marginal tax rates. In the act of decreasing marginal tax rates, and stimulating economic inc

President Reagan during his administration sought to improve relation with the Former Soviet Union, and foreign relations did improve greatly. Reagan and Gorbachev paved the way to the end of the cold war. They accomplished this by means of Summit Conferences. Several of these conferences were held from 1985 to 1987. The President and Mr. Gorbachev conducted this summit in Geneva in 1985.

The Reagan Tax cuts showed that reducing excessive tax rates stimulates growth, reduces tax avoidance, and can increase the share of tax payments given by the rich. With respect to foreign policy Reagan's performances especially with Mikhail Gorbachev showed a high approval of performance with the people. Reagan had the highest poll ratings for performance of any president since World War 2. It appears that his leadership helped to make the feeling of the country to have a more confident outlook on the future.

Hyland, W.G., ed., The Reagan Foreign Policy (1987).

In 1983, Reagan sent U.S. Marines to Lebanon as part of a peacekeeping force. The Marines were recalled in 1984, after some 240 had been killed in a terrorist attack. Reagan also sent U.S. troops to Grenada in 1983, to prevent what the he saw as a Cuban attempt to take over the Caribbean island nation. The President denounced the left-wing Sandinista government of Nicaragua as a threat to peace in Central America, and he repeatedly requested military aid for the anti-Sandinista guerrillas, known as contras.

The negotiations resulted in the Agreement that was signed in Washington September 15, 1987, by Secretary of State Shultz and Foreign Minister Shevardnadze.

The Atlantic Monthly, February 1994; Reagan and the Russians; Volume 273.

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