According to Pat Bucanan's definition of a "neocon" Ronald Reagan was a "neocon"
http://www.weeklystandard.com/Content/Public/Articles/000/000/003/000tzmlw.asp
Technically speaking it is a new conservative, but if you pay attention the term is used almost exclusively to single out Jewish conservatives no matter how long they have been conservative. So in liberaleese it is the latest slur for a Jew.
A belief in low taxes, free trade and an active foreign policy.
Buchanon believes that we should never have entered WWII, wants a protectionist agenda and an isolationist foreign policy.