July 15, 2011

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Victoria,

 
Current lead story from CNBC headining words of John F Kennedy, “One Democrat’s Advice: Raising Taxes Doesn’t Add Revenue”
 

 
“But that may be too simplistic. Many years ago, a popular president was asked how to cut spending without over-burdening wealth producers and throwing Grandma out into the street.
 
His advice:
 
“Our true choice is not between tax reduction, on the one hand, and the avoidance of large federal deficits on the other,” this Democrat said. “It is increasingly clear that…an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget just as it will never produce enough jobs or enough profits.”
 
He went on.
 
“In short,” he said, “it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.”
 
And that’s exactly what John F. Kennedy did.
 
 
 
The 35th president of the United States, who delivered those remarks at a Dec. 14, 1962, speech to the Economic Club of New York, made good on his pledge.”