At Townhall, Supply-Side Blog editor-in-chief praises the epic heroism of Jack Kemp and Ronald Reagan.
The defining quality of Kemp and Reagan — with both of whom I had the privilege of working (at the political equivalent of ‘second lieutenant’ level) — was more than optimism. It was heroism. Other notable optimists have been reduced to a footnote in history. Kemp and Reagan’s optimism was harnessed to grittily undertaking an “Impossible Dream” in the face of daunting odds.
Kemp rescued Capitalism from the dust bin of history. Jack Kemp undertook the vanquishing of stagflation’s hideous, economy-and-morale-killing, Misery Index. He did so by challenging the then-conventional wisdom of easy money + high tax rates with a demand for good money + low tax rates.
For this he was, and all the Supply-Side guerrillas were, ridiculed by the Establishment — of both parties! — as “Voodoo Economists.” We still are. Jack’s courage and intellect, as much as his optimism, brought about an epic transformation of the US and world economy.
The Dow rose from 814 to, eventually, 27,000+. Some Voodoo!