In a special message on tax reform on January 23, 1963, President John F. Kennedy told Congress:
“The present tax codes… inhibit the mobility and formation of capital, add complexities and inequities which undermine the morale of the taxpayer, and make tax avoidance rather than market factors a prime consideration in too many economic decisions.”
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.
See more the JFK quotes: