Word: darman
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Dates: during 1980-1989
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...school encourages its professors to serve in government to gain "practical, first-hand experience," Allison says. The school's faculty have occupied a number of significant posts: Deputy Treasury Secretary Richard Darman is a former faculty member; Dillon Professor of International Affairs Joseph S. Nye has served as a deputy undersecretary of state; and Mary Jo Bane, professor of political economy, is a top policy executive in New York's Social Services Department...
...much happened. But as the time came to prepare his 1984 State of the Union address, which would set the themes for his re-election campaign, Reagan was searching for something positive to say about tax policy. His advisers settled on a strengthened pitch for tax reform. Says Richard Darman, then on the White House staff: "It was a classic offensive issue. We would emphasize fairness, lower rates and simplicity." The White House was careful to avoid specifics, lest it offend voters who might lose tax breaks. Instead, the President announced that he was ordering Donald Regan, then Secretary...
When Regan became White House chief of staff in early 1985, the new team of James Baker and his top assistant, Darman, took over at Treasury and set about producing revised recommendations. Their report, Treasury II, issued in May last year, restored many tax benefits for business. Reagan, ever the salesman who has to sell himself first, had become a zealot for his new cause. He plugged Treasury II in a major TV address ("America, go for it!"), followed by a series of barnstorming speeches around the country.The President derided the complexity of the present tax code by frequently reeling...
Likening the bill to a bear bouncing back and forth in a shooting gallery, Darman said, "There will be additional shots at the bear, but the bear will continue to move in the right direction." The most potent argument against too much tampering is the desire to keep the top tax rate at 27%. Some supporters hope to reach an agreement that will prevent any Senator from offering loophole-opening amendments without specifying how to make up for any revenues that might be lost. If a budget has been passed by then, such trade- offs would be mandatory under...
Reagan, noxious as he may be otherwise, had done little more than reconstitute JFK's rhetoric in his earnest BSing about "morning in America" and "America is back, standing tall." Tony Goldman's Newsweek book finds particularly significant a June 1984 Darman memo which advises...