Happy birthday, Mr. President — that's President Ronald Reagan, who turned 93 on Friday. Fittingly, the lead economic story in the Wall Street Journal that day described how the communist government in China has decided to slash tax rates on both foreign and domestic businesses. What a perfect present for the Gipper. "It's a lot like Reaganonics," deputy finance minister Lou Jiwei said in the story. "We feel that only through simplifying things and lowering tax rates will revenue collection become more efficient." Sounds a lot like the Laffer Curve, doesn't it? And Mr. Lou had more: "At the same...