Tag Archives: Tax Revenues

George Will: John F. Kennedy The Conservative

As president, JFK chose as Treasury secretary a Republican Wall Street banker, C. Douglas Dillon, who 30 years after the assassination remembered Kennedy as “financially conservative.” Kennedy’s fiscal policy provided an example and ample rhetoric for Ronald Reagan’s supply-side tax cuts. Kennedy endorsed “a creative tax cut creating more jobs and income and eventually more revenue.” In December 1962, he said:

The federal government’s most useful role is . . . to expand the incentives and opportunities for private expenditures. . . . [I]t 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.”...

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