“We have to come to grips with the fact that today’ s terrorists are better armed and financed, they are more sophisticated, they are possessed by a fanatical intensity that individuals of a democratic society can only barely comprehend."

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.”

Click here to watch the entire speech.