“Has anyone stopped to consider that we might come closer to balancing the budget if all of us simply tried to live up to the Ten Commandments and the Golden Rule?"

On October 22, 1986, President Ronald Reagan signed the Tax Reform Act of 1986, a reform he called the “most sweeping overhaul of our tax code in our nation’s history.” His remarks that day demonstrated everything he believed in and fought for – economic opportunity and individual liberty. “When I sign this bill into law, America will have the lowest marginal tax rates and the most modern tax code among major industrialized nations, one that encourages risk-taking, innovation, and that old American spirit of enterprise…But for all tax reform’s economic benefit, I believe that history will record this moment as something more: as the return to the first principles.”

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