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Title: CRS84798Lpage84
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Title: CRS84798Lpage80
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Title: CRS84798Lpage63
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Text: ing in 1983. In Presidential Economics, Herbert Stein, perhaps the most tradi- tional of -Republican economists who served under Nixon and Ford, laments the failure of Reagan to adhere more _\fa‘thf“nY \ to the traditional conservative /jzreed. His tendentious and mildly te- dious book chronicles postwar Republi- can €COl10lTllCS,. beginning with the 5;- senhower Administration. Together

Title: CRS84798Lpage65
Page from: info:fedora/mu:77086
Text: . Poorer Americans have been organiz- ing. During the past three years over 1 million blacks have registered to vote, the vast majority of them poor and working class. That is the greatest progress in voter registration made by the black community since the early 1960s.. According to the Joint Center for Political Studies, almost 10.5 million blacks are now registered, out of 17.6 million blacks

Title: CRS84798Lpage67
Page from: info:fedora/mu:77086
Text: 335).. 313.95 Near the end of his second year inpffice. John Kennedy proposed a dramatic re- duction in federal income-tax rates. The maximum rate. applied to income above $200.0tX). would fall from 9l percent to 70 percent. and down through the rest of the income, distribution. rates would be cut by an average of 20 percent. Cor- porate taxes were to be cut. too. The reductions were enacted soon

Title: CRS84798Lpage66
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Title: CRS84798Lpage64
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Title: CRS84798Lpage62
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Title: CRS84798Lpage69
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Text: evidence that American rates had reached that onerous point. (A3 W. W. Rostow points out. "013 NOD07‘ tlon of our (and taxes) ﬂowins to lot’- 9

Title: CRS84798Lpage61
Page from: info:fedora/mu:77086
Text: THE END OF REPUBLICAN ECONOMICS The Supply-Side Revolution: An Insider's Account of Policymaking in Washington by Paul Craig Roberts if _g _/Harvard University Press, 328 pp., $18.50) Presidential Economics: The Making of Economic Policy from Roosevelt to Reagan and Beyond by Herbert Stein ‘(Simon and Schuster, 414 pp., $16.95) Presidents typically try to arrange things so the economy booms

Title: CRS84798Lpage114
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Title: CRS84798Lpage112
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Title: CRS84798Lpage107
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Text: 6 BOOK WORLD] FEBRUARY 26. I984 Reproduced with the permission of the Washington Post, @1384 from Washington Post Book ’ THE SUPPLY-SIDE REVOLUTION: An Insider's Ac- count of Policymaking in Washington. By Paul Craig Roberts. Harvard University Press. 327 pp. $18.50 By JOHN TRAIN HIS is a surprisingly interesting book, and one that needed to bewritten. I say surprising, because like most

Title: CRS84798Lpage111
Page from: info:fedora/mu:77086
Text: the missing theory and empirical data to back up the supply-side case. ” Berry is a Washington Post staff writer. -I 1980» and 1981 tax acts will reduce , that rate to about 15 percent in the 1983-86 period," Bosworth de- clares. ~ 49

Title: CRS84798Lpage109
Page from: info:fedora/mu:77086
Text: RErIE supply-side Theory Reproduced with the permission of the Washington Post Company @1984 A-ug- 12, 1981+ F1». By John M. Berry The economic policy mix adopted in 1981 to promote long-term eco- nomic growth was “exactly the op- posite” of what was needed, accord- ing to a new book by Brookings in- ~ stitution economist Barry Bos- =3 _ worth, - ;_ . labeled as responsible for the poor

Title: CRS84798Lpage113
Page from: info:fedora/mu:77086
Text: , the economic illusion simply parades as a rationale for inequality. It is, as Kuttner describes it, “self- interest masquerading as technical imperative.” Its spokesmen tell iis that equality will sap our initiative but they do not ex- plain that the measures to prevent this, such as the Reagan tax bill, give a 16 percent tax saving to families with incomes over $200,000 and a 21 percent increase to families

Title: CRS84798Lpage108
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Title: CRS84798Lpage106
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Title: CRS84798Lpage110
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Title: CRS84798Lpage53
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Text: or VALOR (AND DISCRETION) 4 Tom Bethell 44‘; Supply-Side Revolution. by Paul Craig Roberts (Harvard, 3]! pp.. $18.50) THE KEY insight of the supply-side movement was simply this: It is po- litically. possible to cut tax rates, while it is impossible to cut spending. (Fed- eral spen:ding has not been out since the end of the Korean War.) This had not been grasped——-and it still has not

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