[Congressional Record Volume 144, Number 21 (Thursday, March 5, 1998)]
[Extensions of Remarks]
[Page E314]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                      THE POWER OF FREE ENTERPRISE

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                          HON. JOE SCARBOROUGH

                               of florida

                    in the house of representatives

                        Thursday, March 5, 1998

  Mr. SCARBOROUGH. Mr. Speaker, as we Americans approach the 21st 
century, we should all be reminded of Ronald Reagan's wise words on the 
power of free enterprise to improve the lives of millions. Like 
President Reagan, I know history's lesson has taught us that the power 
of the individual entrepreneur is far more powerful than the plodding 
might of a government bureaucracy.
  As President Reagan said in 1987, the economic vitality pushing our 
country into the 21st Century is broad-based and irreversible. It's not 
coming from the top, but from the bottom. The creative talents of our 
citizenry, always America's greatest asset, are being put to work for 
our benefit as never before. We have every reason to be optimistic.
  When I first came to Washington three years ago, the annual deficit 
was over $200 billion a year. Bill Clinton said balancing the budget 
would wreck the economy. But by following the wisdom of Ronald Reagan, 
we cut government spending a record $50 billion in one year.
  Our conservative fiscal policy has caused interest rates to drop, the 
markets to explode and the deficit to disappear. With the deficit 
monster in check, we must now reform the Income Tax code to make it 
fairer, simpler and less expensive for all Americans. Again, we would 
be wise to take President Reagan's word to heart: ``Common sense told 
us that when you put a big tax on something, the people will produce 
less of it. So, we cut the people's tax rates, and the people produced 
more than ever before.''
  As President Reagan said in his Farewell Address to the Nation, lower 
tax rates lead to more jobs, more opportunities and a stronger economy 
for all Americans. Let us hope that members of Congress and this 
Administration will fight for the tax reform that Americans so badly 
need. If we meet that challenge, truly I believe America's greatest 
days will lie ahead.

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