Changes

==Reese in retrospect==

==Reese in retrospect==

[While Reese was a stockbroker from 1964 to 1989, he also took flying lessons but was not a pilot in his later years. In 1981, Reese became a silent partner in Penatek, an iron and steel foundry. He became the company president in 1987, sold it in 1997, and re-purchased it in 2004. To reflect more clearly its mission, the company was officially renamed Penatek Foundry and Machining. He was a member of the First [[Presbyterian]] Church in Odessa. He has been active in the Permian Basin Rehabilitation Center, the Easter Seals telethon, Masonic lodge, Permian Basin Oil Show, and the Heritage of Odessa Foundation. He was a former president of the Texas Association of Mayors, Councils, and Commissioners and the chairman of the development commission at Odessa College. He was also a former president of the Republican Men's Club of Ector County.<ref>Reese, p. 146.</ref>

While Reese was a stockbroker from 1964 to 1989, he also took flying lessons but was not a pilot in his later years. In 1981, Reese became a silent partner in Penatek, an iron and steel foundry. He became the company president in 1987, sold it in 1997, and re-purchased it in 2004. To reflect more clearly its mission, the company was officially renamed Penatek Foundry and Machining. He was a member of the First [[Presbyterian]] Church in Odessa. He has been active in the Permian Basin Rehabilitation Center, the Easter Seals telethon, Masonic lodge, Permian Basin Oil Show, and the Heritage of Odessa Foundation. He was a former president of the Texas Association of Mayors, Councils, and Commissioners and the chairman of the development commission at Odessa College. He was also a former president of the Republican Men's Club of Ector County.<ref>Reese, p. 146.</ref>

Reese supported what is known as the "fair tax". Under the plan, of which there are several variations, all taxpayers would contribute the same percent of tax regardless of income, deductions, credits, exemptions, or other factors involving taxable income. Such a change in the tax code, maintains Reese, would enhance the growth of business, increase employment, and reduce the share of the economy absorbed by government. Reese said that he favors a tax system by which all pay a portion of their income but that no one is excessively or punitively burdened.<ref>Reese, p. 146.</ref>

Reese supported what is known as the "fair tax." Under the plan, of which there are several variations, all taxpayers would contribute the same percent of tax regardless of income, deductions, credits, exemptions, or other factors involving taxable income. Such a change in the tax code, maintains Reese, would enhance the growth of business, increase employment, and reduce the share of the economy absorbed by government. Reese said that he favors a tax system by which all pay a portion of their income but that no one is excessively or punitively burdened.<ref>Reese, p. 146.</ref>

Reese referred to himself as "notorious for political bad timing."<ref>Reese, p. 147.</ref>  He ran for Congress in a nationally Democratic year against an entrenched incumbent in 1976, in a party runoff against a future U.S. president in 1978, and for the state senate in 1982, when Governor Bill Clements was unseated in an especially troubling year for the still fledgling Texas GOP. Had he been a candidate twenty years later, his chances of victory in all three of his legislative races would presumably have been greatly enhanced, considering the political realignment that began in West Texas by the 1990s.<ref>Reese, pp. 147, 152.</ref>

Reese referred to himself as "notorious for political bad timing."<ref>Reese, p. 147.</ref>  He ran for Congress in a nationally Democratic year against an entrenched incumbent in 1976, in a party runoff against a future U.S. president in 1978, and for the state senate in 1982, when Governor Bill Clements was unseated in an especially troubling year for the still fledgling Texas GOP. Had he been a candidate twenty years later, his chances of victory in all three of his legislative races would presumably have been greatly enhanced, considering the political realignment that began in West Texas by the 1990s.<ref>Reese, pp. 147, 152.</ref>