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ICYMI: The Coolidge Lesson on Taxes and Spending

Article by Jacqueline Lowe February 19, 2013 //   2 minute read

In case you missed it, today’s Wall Street Journal featured an article by Amity Shlaes, director of the Bush Institute’s 4% Percent Growth Project and author of the recently released biography, Coolidge.  In the article Shlaes reminds us of the extraordinary measures President Coolidge took in reining in spending, cutting taxes, and ultimately combining tax cuts and budget cuts for a balanced budget.

“The 30th president cut the top income-tax rate to 25% (lower than the 28% of the historic Reagan cut of 1986). Coolidge reduced the national debt and balanced the budget. When he departed the White House for his home in Northampton, Mass., he left a federal budget smaller than the one he found.”

Read more from Shlaes about the bold moves of President Coolidge, and how the lessons of the 1920s could serve us well today.

“President Reagan recognized Coolidge's achievement, and upon taking office in 1981 he had a neglected Coolidge picture restored to a place of honor near Lincoln and Jefferson in the Cabinet Room. [T]hose who are even now pondering presidential runs for 2016 would do well to heed Silent Cal's deeds.”