Can you guess who these quotes are from?
“A tax cut means higher family income and higher business profits and a balanced federal budget. Every taxpayer and his family will have more money left over after taxes for a new car, a new home, new conveniences, education and investment. Every businessman can keep a higher percentage of his profits in his cash register or put it to work expanding or improving his business, and as the national income grows, the federal government will ultimately end up with more revenues.”
“The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital... the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.”
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“We are not afraid to entrust the American people with unpleasant facts, foreign ideas, alien philosophies, and competitive values. For a nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people.”
<http://www.brainyquote.com/quotes/quotes/j/johnfkenn122217.html>
“Let us not seek the Republican answer or the Democratic answer, but the right answer. Let us not seek to fix the blame for the past. Let us accept our own responsibility for the future.”
It was John F. Kennedy. Yes, I was suprised too. What has happened to the party of “Ask not what your country can do for you, ask what you can do for your country”? Today, the liberal media would try to portray JFK as a right wing radical for his ideas. Which party do you think JFK would represent in 2012?
Dave Goos
Baxter
Comments (4)
Add commentKennedy tax cuts
The Kennedy-Johnson tax cuts of the 1960s dropped the highest rate from 91 percent to 70 percent, and the lowest rate from 20 percent to 14 percent. Is that where you want to go? And the so-called "liberal press" talks/writes about the Kennedy tax cuts all the time.
@Otter
While the tax rates in 1965 were much higher the income earned to hit the highest rate was as well.
In 2012 if you make over $250,000 you should be taxed at the highest rate. In 1965 you would have had to make an inflation adjusted $1.42 million dollars before you were taxed at the highest rate.
2011's $250,000 adjusted for inflation would have put a family thirteen tax brackets lower than the highest at 42%.
Your "liberal press" neglects to mention that as well.
@Otter
Not only the "liberal press" but so does Rush Limbaugh - he even says Kennedy would be a Republican if he were around today!!! Kennedy talked about cuts but it was Johnson that actually got them done!!!! Kennedy never could get them through the Congress. It took Johnson's know how of how to work the "hill" to get it done (you would have thought it should have been a slam dunk????)!!!!
JohnBrown is right, however,
JohnBrown is right, however, the figures he's quoting are "after" two tax cuts, not before, which is where this discussion began. That said, a million dollar income today ($140,000 back then) would still have been taxed at 66 percent in 1965. The effective rate of the one-percenters is less than 20 percent. The real point is that it's unrealistic to suggest the country can get rid of its debt without raising taxes on the very rich.