Pres. Reagan's State of the Union speeches: on Tax Reform

Index tax rates so inflation can't push to higher brackets

Today a working family earning $25,000 has $1,100 more in purchasing power than if tax and inflation rates were still at the 1980 levels. Real after-tax income increased 5% last year. And economic deregulation of key industries like transportation has offered more choices to consumers and new chances for entrepreneurs and protecting safety. Tonight, we can report and be proud of one of the best recoveries in decades. Send away the handwringers and the doubting Thomases. Hope is reborn for couples dreaming of owning homes and for risktakers with vision to create tomorrow's opportunities.