Ronald Wilson Reagan Part 21

I have mentioned earlier that my son Wilson Hatcher was named after Ronald Wilson Reagan. It is fitting that for the first time ever, Wilson had his picture in the Ark Dem Gaz High Profile Section today on the 100 anniversary of Reagan’s birth (Reagan was born on Feb 6, 1911).

Kahry Wright of Little Rock and Wilson Hatcher of Bryant

President Reagan and Nancy Reagan with Princess Caroline and Prince Albert of Monaco after Nancy Reagan’s National Symphony Orchestra Performance of Saint Saens “Carnival of the Animals” at the Kennedy Center. Washington, DC. 3/28/83.

Reagan Roast

The clear facts show that lots of economic growth occurred during the Reagan years, but instead of denying that, lots of liberals just try to get that envy ploy going again. “Only the rich made money in the 1980’s while all the rest of us starved!!!” Many have said that about the success that Reagan had with the economy in the 1980’s. William A. Niskanen and Stephen Moore have sent the record straight in their October 22, 1996 paper “Supply-Side Tax Cuts and the Truth about the Reagan Economic Record.” I will be sharing portions of that article with you over the next few days.

Here is another myth:

In the 1980s the Rich Got Richer and the Poor Got Poorer

During the Reagan years, the total share of national income tilted toward the wealthiest Americans. From 1980 to 1988 the wealthiest 5 percent of Americans increased their share of total income from 16.5 to 18.3 while the poorest fifth saw their share fall from 4.2 to 3.8 percent.

Yet it is not true that the gains by the wealthiest Americans came at the expense of low-income Americans. From 1981to 1989, every income quintile–from the richest to the poorest–gained income according to the Census Bureaueconomic data.
The reason the wealthiest Americans saw their share of total income rise is that they gained income at a faster pace than did the middle class and the poor. But Reaganomics did create a rising tide that lifted nearly all boats.
By 1989 there were 5.9 million more Americans whose salaries exceeded $50,000 a year than there were in 1981 (adjusting for inflation). Similarly, there were 2.5 million more Americans earning more than $75,000 a year, an 83 percent increase. And the number of Americans earning less than $10,000 a year fell by 3.4 million workers.

The gains in incomes of all income groups is all the more impressive when we examine data on income mobility. Tens
of millions of Americans moved up the income scale in the 1980s–an economic fact that is obscured when only the static income quintile data from the start of the decade to the end are examined. 86 percent of households that were in the poorest income quintile in 1980 had moved up the economic ladder to a higher income quintile by 1990. Incredibly, a poor household in 1980 was more likely to have moved all the way up to the richest income quintile by 1990 (15 percent) than to still be in the poorest quintile (14 percent).

President Ronald Reagan’s 100th birthday anniversary

A statue of Ronald Reagan is unveiled in the U.S. Capitol’s Rotunda in 2009.

Little known presidential facts:

  1. When Mexican general Santa Ana demanded Zachary Taylor (“Old Rough and Ready,” 1784-1850) to surrender, Taylor said, “Tell him to go to hell.”i
  2. Andrew Jackson was involved in over 100 duels and fights
  3. Andrew Jackson (1767-1845) was reportedly involved in over 100 duels, most to defend the honor of his wife, Rachel. He had a bullet in his chest from an 1806 duel and another bullet in his arm from a barroom fight in 1813 with Missouri senator Thomas Hart Benton.g
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