Ronald Reagan may have left the White House 26 years ago, but his "tax-cutting ideas live on," and that's something to be thankful for, says Stephen Moore, distinguished visiting fellow at The Heritage Foundation.

The ideas live on in that "tax rates keep falling all over the world," Moore writes in an Investor's Business Daily opinion piece.

Under Reagan the top individual income tax rate dropped to 28 percent in 1989 from 70 percent in the late 1970s. And foreign nations followed suit, Moore explains. The average personal income tax rate for industrialized countries dropped to 41 percent in 2010 from 64 percent in 1980.

Unfortunately we are behind the curve when it comes to corporate taxes, with our top federal rate of 35 percent, Moore says. "We now have the highest statutory corporate income-tax rate in the world, forfeiting our competitiveness lead."

The call for higher taxes by Democrats such as Hillary Clinton and Bernie Sanders is a mistake, Moore says.

"Look what countries are doing to become more prosperous, and you'll see how tax rates continue to topple as Reagan's supply-side legacy lives on."

Elsewhere on the tax front, Steve Forbes, editor-in-chief of Forbes Media, isn't too impressed with proposals in Congress to finance transportation spending with tax hikes.

"UH-OH! Washington is coming down with another tax-and-spend fever," he writes in Forbes magazine. "The cause this time is an old-timer: highway spending. The prospect of ladling out more money for roads even has many Republicans acting like dogs in heat."

The Highway Trust Fund, which finances most transportation programs, is broke, Forbes explains. About 90 percent of the fund's money comes from federal gasoline and diesel taxes.

And that's not sufficient now to pay for existing projects.

"What to do? In Washington the answer is almost always more taxes," Forbes says. To finance the fund, politicians want to boost gasoline taxes and levy a tax on companies' foreign earnings.

So what should be done for the highway fund? "Just pump in general appropriations," Forbes recommends. "Then return the fund to its original 1950s purpose: to build and maintain the federal Interstate Highway System, period."

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