As a product of the Reagan revolution, watching the media coverage of the passing of Nancy Reagan left me sad and reminiscing about my youth. Most importantly, it reminded me of the dark days of Jimmy Carter and the light of economic hope which Ronald Reagan represented. Understand, during the Carter years with the marginal top tax rates at very high levels, unemployment a serious problem and interest rates running around 15 percent to 20 percent, the prospects for coming out of school and finding a job were dim at best. Capital preservation became the mantra.
Then came Reagan who cut all taxes, widened the base and freed up the needed seed capital which launched many of the great companies we trade this very day all with Soviet missiles aimed at us. It was a Godsend! I was 19 and proudly voted for the first time. It became governmental poetry in motion. It was a time when fiscal conservatives and progressive Democrats treated each other with respect (to a point), compromised for the sake of the country and the office of the presidency was dignified. The point is: That's how economies grow.