Republican President Ronald Reagan supported expanding the ownership of productive capital. What happened? Why do we not have leaders who can see the merit of this GOAL in light of the exponential growth of job-destroying technological invention and innovation?
“Our national task today is to restore the conditions for economic recovery, without which our prosperity and our national security cannot be assured. We must restrain the headlong growth of the Federal budget; enact multi-year across-the-board tax reductions to spur new job-creating investment and productivity; roll back the tangle of regulations which needlessly hamper enterprises; and cleave to a sound monetary policy which preserves the strength of the American dollar. But even as we act boldly to achieve these goals, we most work to create the conditions for expanding the ownership of the nation’s wealth, so that all Americans may have their fair chance to become true proprietors of their country.”
–– Ronald Reagan, Letter to Pierre S. du Pont IV, Delaware, 1981.
