The near religious veneration with which politicians on the right hold the memory of former President Ronald Reagan may have more to do with his engaging smile and quick wit than his accomplishments.
Today would have been his 100th birthday, and it’s appropriate to remember that his successes carried the weight of many failures.
Those who laud the actor-turned-president often cite the aggressive tax cuts made during his two-term administration. Actually, taxes rose three times during his tenure, including an increased payroll tax that had a disproportionate impact on the poor and middle class.
His reputation for cutting taxes came from cutting the maximum income tax rate — a gift to the wealthiest that helped triple the national debt, from $900 billion to $2.8 trillion dollars. He dropped the maximum marginal rate from 70 percent to 28 percent, almost as low as the rate in the years immediately preceding the Great Depression. In the post-depression boom years, the rate hovered around 80 percent, rising to 94 percent in 1944. The rate was 91 percent from 1951 to 1962, eventually dropping to 70 percent under former President John F. Kennedy.
The nation had economic booms and busts during these years of high income taxes for the wealthy, but no busts as severe as the recessions that came in 1982 after Reagan cut the top marginal rate and after former President George W. Bush — reading from Reagan’s playbook — dropped the top marginal rate from 39.6 to 35 percent.
While Reagan’s more ardent fans view his success in cutting tax rates on the wealthiest Americans as a positive, despite the economic consequences, they struggle with the precedent he set in dealing with illegal immigrants. In 1986, Reagan signed a law that granted amnesty to 3 million immigrants who entered America illegally before 1982. His eloquent words at the signing ceremony: “The legalization provisions in this act will go far to improve the lives of a class of individuals who now must hide in the shadows, without access to many of the benefits of a free and open society. Very soon many of these men and women will be able to step into the sunlight and, ultimately, if they choose, they may become Americans.”
Also in 1986, Reagan became immersed in the Iran-Contra Affair. Proceeds from secret arms sales to Iran were used — in violation of federal law — to fund the Contras in Nicaragua. Reagan appointed a commission to investigate, and it concluded if Reagan did not know of the sordid affair involving top officials, he should have.
There is much to like about Reagan, but people of all political persuasions have reason to question his legacy.