Well, back in my day (let me light up my pipe and tip back my rocking chair) punk was a purely leftist, hate Reagan deal. There were some rare conservatives in the movement but most of the kids were probably apolitical and just liked the music. I laugh at the all the "hip" musicians who go on about how much they hate George Bush (Pearl Jam, Ani Difranco, and even Morrissey has some anti-Bush stuff on his new CD) because it reminds me of how you had to hate Reagan to be a punk in the 80's. Every band had their Reagan song, everyone incorporated some anti-Reagan element. The new musicians are just as dopey as we were then, worse even. To show your hipness quotient you have to go on about how you hate the president. It's really pathetic, not to mention pathetically unoriginal and boring.
IIRC, the real hatred for Reagan came from non-punk, establishment types like Phil Collins and Sting.