Six years ago, I cited a great 4th of July speech by Calvin Coolidge about American principles.
What I didn’t mention is that Coolidge also was born on July 4. Which is one of the factoids in this video about America’s vastly underappreciated 30th president.
Or was it the fact that he actually understood the underlying principles of liberty?
In any event, he was a superb president, with only one competitor for the title of being the best in the 20th century.
A couple of years ago, Larry Reed of the Foundation for Economic Education wrote about Coolidge’s great success.
Of America’s 46 presidents, only one shares a birthday with the country itself—and he was a mighty fine one at that. …Today’s advocates of the spendthrift nanny state dismiss this practitioner of small government as a simple man of even simpler times. His wisdom, however, demonstrates the crucial difference between simple and simplistic. …It is simple to appreciate one’s limitations and the limitations of government. It is simplistic to think they can be tossed to the wind if you are in charge because you’re somehow special. Coolidge was not dumb enough to believe that passing laws, and piling them sky-high on top of previous ones, was a magic formula for national success. “It is much more important to kill bad bills than to pass good ones,” he once wrote. …Going a step further, Coolidge demonstrated that he understood what good law really is. It is not a purely man-made concoction to keep one group happy at the expense of others. Good law, he believed, should follow from timeless truths of justice, sound economics, and honest dealing. …On fiscal matters, Coolidge embraced a simple truth: It’s not the government’s money, it’s the people’s, and the government should treat the people’s money with utmost respect. …During his tenure in the White House (1923-1929), Coolidge’s policies cut tax rates by two-thirds and reduced the national debt by one-third. The budget was balanced every year. Federal spending was lower when he left office than when he entered it. That is the last time that has ever happened. …Happy birthday, Calvin Coolidge (and America too)!
Dan Mitchell is co-founder of the Center for Freedom and Prosperity and Chairman of the Board. He is an expert in international tax competition and supply-side tax policy.
