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4 Bumps

JFK understood reducing high taxes will increase revenue!

With all the people saying we need to raise taxes to increase revenue I heard a clip of a speech by JFK saying the exact opposite! On WND they have a lot of quotes by him in various speeches saying this and I also found a short one from the NYT in 1984 just to cater to those who won't accept anything WND posts.

Tax-cutting policies with a supply-side flavor were put forward two decades ago by the Democratic Administration of John F. Kennedy.

In a speech before the Economic Club of New York on Dec. 14, 1962, President Kennedy gave what could stand today as an eloquent statement of the supply- side case, particularly as it relates to budget deficits and tax rates.

He said:

''Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that, no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenue to balance the budget - just as it will never produce enough jobs or enough profits.

''In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low - and the soundest way to raise revenues in the long run is to cut rates now.''

I will include both links. The WND has some really GOOD quotes! Maybe someone can make them clicky for me.

http://www.nytimes.com/1984/09/18/business/rationale-for-kennedy-s-tax-cut.html
http://www.wnd.com/news/article.asp?article_id=39517

Do you agree with him?

 
DSamuels

Asked by DSamuels at 1:52 PM on Feb. 8, 2011 in Politics & Current Events

Level 32 (56,906 Credits)
This question is closed.
Answers (26)
  • I don't think he meant 'give it all to people who don't work' when he said 'do for your country'. I do think he meant that the country isn't suppose to 'keep' the citizens. That the citizens aren't suppose to stand with their hands out and wait for those hands to be filled. He lived during the time of WWII and the Korean Conflict, and the Cold War. He was also part of what was considered the 'idly rich'. Being rich isn't a crime. It is unseemly to envy them so much that you turn that to hate. Higher taxes won't fix the economy. Working will. Everyone paying their fair share of taxes will. And, I mean everyone. Half the citizens can't keep carrying the load for 100% of the population.
    jesse123456

    Answer by jesse123456 at 8:49 AM on Feb. 10, 2011

  • Kennedy knew what he was talking about.
    Carpy

    Answer by Carpy at 2:36 PM on Feb. 8, 2011

  • And for those who want to spout the progressive mantra that the cuts were unfunded and cost the government.

    With such a ludicrux statement, you are putting forth the proposition that YOUR earnings belong to the government and hey keep what they deem fit and let you have what is left.
    Carpy

    Answer by Carpy at 2:38 PM on Feb. 8, 2011

  • 65%???? Are you out of your ever loving mind? Why just because you work hard and have a good income is the gov't entitled to MORE of what you make than you are? I can't believe this hatred for people that work hard for their money.

    NO, we are NOT rich and while I might envy their ablity to not have to worry about bills, I don't begrudge their hard work and wish they had to pay confiscitory taxes.

    ***

    ^^^ THIS!!!!!!!!!!!!!!!!!

    (psst...economics is not everyone's specialty!)
    LoriKeet

    Answer by LoriKeet at 8:48 PM on Feb. 8, 2011

  • He also said, "Ask not what your country can do for you but what you can do for your country." I wish more people would remember they should be helping their country and all the huge entitlements isn't helping the country.
    jesse123456

    Answer by jesse123456 at 7:08 PM on Feb. 8, 2011

  • (psst...economics is not everyone's specialty!)

    No but they listen to keynesian mantra and think it is.
    Carpy

    Answer by Carpy at 8:59 PM on Feb. 8, 2011

  • does that also go for the super wealthy and corporations shouldn't they also be asking what they can do for their country

    One gives me a job.
    Carpy

    Answer by Carpy at 9:00 PM on Feb. 8, 2011

  • . A major problem with the economy now is the lack of effective demand for goods and services without which businesses will not invest in the US as they see no prospect of selling additional production given the financial stranglehold on low income and some middle-income families

    The US are the largest consumers in the world. The theory falls flat on it's face considering all the imports we have. It is to expensive to produce here. Taxes and regulations strangle companies.
    Carpy

    Answer by Carpy at 8:45 PM on Feb. 8, 2011

  • and make the top pay 65%


    How about you just go get a job and pay your fair share?


     

    Anonymous

    Answer by Anonymous at 9:36 PM on Feb. 8, 2011

  • To you ladies that do not like trickle down, well, how is Obama's trickle up poverty working for you.


    Mommom,


    The top (richest) pay 78% of the income tax now. The top 50% pay all of the income tax.


    The bottom 50% pay none, some even get more back then they paid in.


    Now how about you paying your fair share and quit bitching about the top 50%.

    Natesmom507

    Answer by Natesmom507 at 12:40 AM on Feb. 9, 2011