REAGAN TIES STUDENT GOALS TO SUPPORT FOR ECONOMIC POLICIES - Vol.13 No.62 - March 29, 1985

Sep 28, 2026

Reagan addresses college students at St. John’s University, linking tax simplification and proposed budget cuts to their financial outlook and future entrepreneurial ambitions. He argues lower personal tax rates from 50% to 35%, ending many deductions, while emphasizing that reducing government spending shifts burdens onto students. Economic and survey data are used to portray growing business aspirations and money-centered goals, framed alongside concerns about student aid limits and the program’s continued priority for those needing access to education.

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REAGAN TIES STUDENT GOALS TO SUPPORT FOR ECONOMIC POLICIES

Speech and framing of tax simplification

Student aid and budget-cut arguments

FORMER ED CHIEF TERREL BELL OPPOSES JOB CORPS ELIMINATION

Opposition to ending Job Corps

Budget process and appeals

Vol.13,No。62 Friday,March 29。1985 # REAGAN TIES STUDENT GOALS TO SUPPORT FOR ECONOMIC POLICIES President Reagan yesterday used an appeal to wallet-sensitive college studentsto plug his administration's tax simplification package and boost his proposedbudget cuts,which would leave students among the hardest hit. The president's speech to students at St.John's University in Queens,N.Y.,where he was awarded an honorary doctor of laws degree,played on what collegefreshmen last year reported as their most important goal in life:making money(HED,Jan.14). A senior hired next year as a $20,000-a-year salesperson could be giving upnearly a third of that in taxes,"finding yourself in a condition of somethingapproaching servitude,"Reagan told the students. "We want to make the tax svstem simpler and more fair and weaaL w L L LK Cne LAyLeu 5 pId e a uwwant to push tax rates down still further,"said the president.The TreasuryDepartment's tax reform plan would lower the top personal tax rate from 50 per-cent to 35 percent and end many deductions(HED,Nov.29,1984). "You're very much the sort of people who would,in a few years,take the fewthousand you'd gain from a tax cut and pool it with friends and acquaintancesin order to invest it,"Reagan told students at St.John's,a 19,000-student,private Catholic school with a branch campus on Staten Island. "I believe that this is the age of the entrepreneur,the age of the individ-ual,"Reagan told the students,picking up on a trend that sees the number offreshmen aiming on business careers reaching a record high. Money-Minded An American Council on Education survey last year found that 22.2 percent of college freshmen want to go into business.And 71 percent offreshmen surveyed by researcher Alexander Astin said their primary goal is tobecome financially well-off,while only about 40 percent felt that way in 1970. But Reagan said the other side of the equation to cutting taxes is reducinggovernment spending,and students must shoulder some of the burden. "I know some of you are concerned about our proposed limits on financial aidfor students,"said Reagan,who wants to cut s1.7 billion from the $8 billionaid budget(HED,Feb。4)。"Our student aid program is big,and our commltmentto it will continue."But he said the program's "primary purpose will be toprovide the vital assistance to those who couldn't get an education without it." More than half of St.John's 13,000 undergraduates got federal aid for the1983-84 school year,and 12,000 of its 19,000 students get some form of aid,according to John Edel,the school's associate director of financial aid.--Robin Wilson March 29,1985 # FORMER ED CHIEF TERREL BELL OPPOSES JOB CORPS ELIMINATION Former Education Secretary Terrel Bell traveled back to Washington,D.C,thisweek from Utah to oppose President Reagan's plan to end the Job Corps and gavean insider's view on how the administration makes budget decisions. Bell argued that the Job Corps'success rate is high,with a return of at least138 percent on money invested in the program。Any economist can prove that thetaxpayers have gotten their money's worth out of Job Corps dollars,he told theHouse Education and Labor Committee's Subcommittee on Employment Opportunities. Bell resigned his education post last fall,saying he no longer wanted to bat-tle conservatives over the federal role in education(HED,Nov.9,1984)。 Not Well-InformedReagan's fiscal 1986 budget proposes to eliminate theJob Corps and rescind s100 million in Job Training Partnership Act(JPTA)funds(HED,Feb.7)。"I am convinced that the Job Corps program is not fully under-stood by those who made the decision to …shut it down,"Bell said. Bell said Office of Management and Budget statements that JTPA alone could meetthe needs of disadvantaged youth reinforced his feeling that OMB is misinformedabout the job training programs. "I want to emphasize from experience that this comment is way off the ma

FAQs

What does Reagan say about college students’ incentives under his economic policies?

Reagan tells students that tax changes and reduced rates align with their likely future choices to invest gains and reflects a broader “entrepreneur” era.

How does Reagan address the plan to cut student financial aid?

He says limits on aid are part of budget reductions, but he insists the student aid program will continue and prioritizes students who could not get an education without it.

What is Terrel Bell’s main argument against eliminating Job Corps?

Bell argues the program’s success rate is high and that Job Corps requires residential, high-intensity support that other training funding cannot substitute.

Sep 28, 2026

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