JFK would have seen a lot of himself in Ronald Reagan

Posted by PITHOCRATES - December 4th, 2011

Week in Review

If you read a speech by JFK without knowing it was a JFK speech something interesting would happen.  You would think you were reading a speech by Ronald Reagan (see By Today’s Standards, JFK Was A Tax-Cutting Supply-Sider posted 11/25/2011 on Investors.com).

Forty-nine years ago, with the economy still recovering from a 10-month recession that ended in 1961, President Kennedy sketched out a bold plan to get the economy moving again. It focused on deep, across-the-board cuts in taxes. Those cuts, made after Kennedy’s tragic death in November 1963, created a boom that lasted through the 1960s and into the 1970s. Contrast his tax-cutting rhetoric of nearly 50 years ago with today’s tax-hiking rhetoric of President Obama and his Democratic colleagues. Following is an abridged version of Kennedy’s remarks to the Economic Club of New York on Dec. 15, 1962.

Yeah, that’s right.  That’s JFK we’re talking about here.  A tax-cutting supply-sider that has more in common with Ronald Reagan than Jimmy Carter, Bill Clinton or Barack Obama.  And he was a Cold War warrior to boot.  Also a lot like Ronald Reagan.

Here are some closing remarks from that JFK speech.

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 the revenues in the long run is to cut the rates now.

The experience of European countries and Japan have borne this out. This country’s own experience with tax reduction in 1954 has borne this out. The reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy that can bring a budget surplus.

Perhaps the Republicans should be quoting this guy.  Run a candidate that is like JFK.  And put him up against Barack Obama.  That would make an interesting campaign.  For the left hates Ronald Reagan.  But they simply adore JFK.  Even though he stood for everything they’re against.

And whenever the Democrats attack the Republican candidate, the Republicans could say that it was an attack on JFK.  Because the Republican candidate believes what JFK believed.  You raised tax revenue by cutting tax rates.  Not by raising tax rates like Barack Obama wants to do.

Unfortunately the Kennedy legacy is not the JFK legacy.  It’s more the liberalism of Teddy Kennedy.  Who stood for everything that JFK did not.

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