John E. Chapoton (standing) is the guest speaker at the monthly luncheon of the Wilmington Tax Group, where professionals gather to hear speakers on topics of policy, administration, and tax law. In his speech, Mr. Chapoton advocates for a tax reform in line with the Tax Reform Act of 1986, which, as assistant Secretary of the Treasury under President Reagan, he helped formulate. Under that reform, the top tax rate for individuals was lowered from 50% to 28%. Delaware.