Reason Foundation

Reason Foundation

JFK Quote of the Day: Tax Cuts Stimulate Economic Activity

Anthony Randazzo
January 17, 2010, 8:00am

In an annual budget meeting on January 17, 1963, President John F. Kennedy told Congress:

"Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government."

We're a far ways down the progressive road from this type of thinking 47 years ago. Coupled with a reduction in spending, JFK's thinking is exactly what is needed as the Obama administration plots the fiscal year 2011 budget.

Anthony Randazzo is Director of Economic Research

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