N. Smith Section 613, Friday, 9 AM Gucci Gulch Ch. 4 Chapter 4 of Showdown at Gucci Gulch is one of the most important chapters in the novel. Chapter 4 marks the transition from discussion to action in the novel. At the beginning of the chapter, the notion of tax reform is still on the planning table, with Treasury I, being the brainchild of James Baker, taking the lead. It is not at the top of anyone’s plate, following the transition into the second Reagan administration. However, the urgency of tax reform will soon change. The chapter begins with a massive transition, with Donald Regan becoming Chief of Staff at the White House, while James Baker becomes Secretary of the Treasury. The change brings tax reform to the front bench at last. The switch will prove necessary, as Baker is a politician in the treasury. Thus, he is able to judge tax reform based on how it will be absorbed by the public. With Regan in the White House, the administration now has someone with plans for tax reform very close to the epicenter. In his state of the union address, President Reagan
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