What ‘JFK and the Reagan Revolution’ Reveals About Trump

Donald Trump (photo credit: Darron Birgenheier via Flickr, CC BY-SA 2.0)

Remember prosperity? Want it back? Here’s the secret formula, which has always worked and would work again: Cut marginal tax rates and restore integrity to the dollar.

Donald Trump is campaigning on meaningful marginal tax rate cuts and implying, with his offstage praise of the gold standard, a solid instinct for monetary integrity and how to produce it. One hopes so as it requires both together.

Here’s the brief. Lawrence Kudlow and Brian Domitrovic have just published what deserves to be the most important book of the 2016 presidential election cycle: JFK and the Reagan Revolution: A Secret History of American Prosperity. It provides a solid understanding of the key issue of the 2016 race — the economy.

Reagan made “Supply-Side” famous by campaigning on and then enacting most of the Kemp-Roth 30% across-the-board tax rate cut. But John F. Kennedy was the original Supply-Sider. The book’s Big Reveal: Jack Kemp designed this tax cut as a direct copy of Kennedy’s own.

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Read the full article at Forbes.com.

Ralph Benko, internationally published weekly columnist, co-author of The 21st Century Gold Standard, lead co-editor of the Gerald Malsbary translation from Latin to English of Copernicus’s Essay on Money, is American Principles Project’s Senior Advisor, Economics. Continue Reading

The Story of “Reagan’s Lost Campaign Ad”

Jeff Bell, Policy Director for the American Principles Project and occasional contributor to The Pulse 2016, recently sat down for an interview with The Daily Reckoning’s Brian Maher to discuss the Reagan Revolution of 1980.

One interesting story from the campaign detailed by Bell involved a pro-gold standard TV ad which Reagan appeared in — and the intriguing reason why the ad never ran:

Brian Maher: … Gentlemen, we talk a lot about gold here at The Daily Reckoning. I don’t know how many people remember today, but Reagan wanted to return to a gold standard. In fact, I believe you shot a commercial of him calling for a return to gold. But it never ran, correct?

Jeff Bell: That’s correct. And no, it never ran. Reagan believed in the gold standard. He was very interested in it. It was an issue for the first year or two on his administration, when he conducted a Gold Commission. The majority of the Gold Commission recommended against returning to the gold standard. Reagan was able to fix the economy and stop most of inflation without one, but he was very interested in it.

What he said in the ad, which is something I think he always believed, was that we’ll never have stable prices until we get back to some form of gold backing for the dollar. He didn’t blame labor for inflation. He blamed the government.

Reagan said, “We’re never going to get price stability until we return to some form of gold.” He didn’t say that it was only inflation that was a problem.

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Trump Sounds Like Reagan: GOP Should Help Workers

Donald Trump speaks in Reno, Nev. (photo credit: Darron Birgenheier via Flickr, CC BY-SA 2.0)

There’s a story in Politico today where Donald Trump says that the GOP will become a ‘workers party’ under his leadership:

“Five, 10 years from now — different party. You’re going to have a worker’s party,” Trump said in the May 17 interview. “A party of people that haven’t had a real wage increase in 18 years, that are angry.”

Trump is right to recognize a critical flaw in the GOP’s current economic platform, which focuses almost exclusively on businesses and “job-creators.” The only way to win future elections is to make the GOP platform more friendly to workers. Republicans’ goal should be to win voters with all income levels, and that starts with winning voters with incomes under $50,000, where Romney got trounced 60 percent to 38 percent in 2012.

In understanding this need to make the GOP a ‘workers party,’ Trump is a lot like Ronald Reagan. Reagan understood that having an economic message that reached voters across the socioeconomic divide was critical to electoral success. Reagan’s big tent included businesses and job-creators, to be sure, but it also included working families that had been crushed by the high inflation of the 1970’s — almost immediately after we ended the gold standard, by the way — and who were inhibited from getting ahead due to oppressively high taxes.

I feel like a broken record, but I’ve been saying this since at least the 2012 election and probably before. Continue Reading

On the KKK, Trump Can Learn a Lesson from Reagan

Donald Trump (photo credit: Gage Skidmore)
Donald Trump (photo credit: Gage Skidmore)

Last week, former KKK leader and anti-Semite David Duke announced on his radio program (I didn’t know he even had one!) that he supported Donald Trump and was going to vote for him. “Voting for these people [Cruz, Rubio and Carson], voting against Donald Trump at this point, is really treason to your heritage,” Duke added.

Trump was peppered with questions about the endorsement Friday. He dismissed it, saying, “I didn’t even know he endorsed me. David Duke endorsed me? OK, alright. I disavow, OK?”

Last summer, when Duke said positive things about Trump, The Donald was quick to denounce him. “I don’t need his endorsement; I certainly wouldn’t want his endorsement,” Trump said in August.

All fine and good.

But consider this exchange yesterday between Trump and CNN’s Jake Tapper:

TAPPER: Will you unequivocally condemn David Duke and say that you don’t want his vote or that of other white supremacists in this election?

TRUMP: Well, just so you understand, I don’t know anything about David Duke. OK? I don’t know anything about what you’re even talking about with white supremacy or white supremacists. So, I don’t know.

I don’t know, did he endorse me or what’s going on, because, you know, I know nothing about David Duke. I know nothing about white supremacists. And so you’re asking me a question that I’m supposed to be talking about people that I know nothing about. . .

You wouldn’t want me to condemn a group that I know nothing about.

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