JFK Quote of the Day: Cut Individual Taxes

In the annual “Economic Report of the President” on January 21, 1963, President John F. Kennedy told Congress:

“It is no contradiction — the most important single thing we can do to stimulate investment in today’s economy is to raise consumption by major reduction of individual income tax rates.”

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 the JFK quote from Jan. 17 here.

Anthony Randazzo

Anthony Randazzo is a senior fellow at Reason Foundation, a nonprofit think tank advancing free minds and free markets.