“ Government must never again use inflation to profit at the people's expense. ”
Ronald Reagan, State of the Union Address (25 January 1984). copy citation
| Author | Ronald Reagan |
|---|---|
| Source | State of the Union Address |
| Topic | government profit |
| Date | 25 January 1984 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/5046/5046-h/5046-h.htm |
Context
“Together, we passed the first across-the-board tax reduction for everyone since the Kennedy tax cuts. Next year, tax rates will be indexed so inflation can't push people into higher brackets when they get cost-of-living pay raises. Government must never again use inflation to profit at the people's expense.
Today a working family earning $25,000 has $1,100 more in purchasing power than if tax and inflation rates were still at the 1980 levels. Real after-tax income increased 5 percent last year. And economic deregulation of key industries like transportation has offered more chances--or choices, I should say, to consumers and new changes--or chances for entrepreneurs and protecting safety.”
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