TLS as president, signed “Ron,” one page, 7 x 10.5, White House letterhead, June 9, 1981. Letter to Charles J. Broska, president of the Shoreline Retirement Association, in full: "Just a quick line between chores to answer your good letter, which was most welcome. Thanks for the kind words about my speech. I don’t know what to say about Jack Anderson. Frankly, he comes out with what he claims is sure fire material but too many times I know from the position I’m now in, it is complete fiction. I guess there’s no way of stopping him. I appreciated your tax proposal about the 10% and tying the next two years to some level of economic achievement. We really did study such an alternative, but we’re convinced that the business community would not have the confidence in the Congress to carry through on those other two increases that are necessary if this tax bill is to be what we want it to be and that is an incentive; a program to increase investment and productivity. We think three years are the minimum for people in business and others to be able to look ahead and say, I can plan knowing what is going to take place over the next three years. I have come down now to 5-10-10 and believe we have a good chance of putting together a coalition which will support this. It won’t be easy and it’ll be quite a fight, but we’re going to fight. Thanks again for your letter. Best regards.” In fine condition.
On July 27, 1981, President Reagan addressed the nation on Federal Tax Reduction Legislation. Roughly two weeks later on August 13, 1981, at his California home Rancho del Cielo, Reagan signed the Economic Recovery Tax Act (ERTA), a package of tax and budget reductions that set the tone for his administration’s trickle-down economic policy. Beyond reforming the tax code and drastically reducing marginal tax rates, the bill marked a departure from both liberal tax policy associated with Keynesian economic theory and some have argued it was also a departure from earlier tendencies in the Republican Party. A desirable letter referencing a major early example of 'Reaganomics.'
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