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What John F. Kennedy and Donald Trump Have in Common
Townhall.com ^ | Dec 19, 2017 | Stephen Moore

Posted on 12/19/2017 8:53:55 PM PST by Oshkalaboomboom

Last week during an address at the White House, President Donald Trump likened his tax plan to the tax cut that John F. Kennedy proposed 55 years ago. This elicited some howls of protest from Trump's liberal critics, who say it's historically inaccurate to compare the Trump plan to JFK's.

Is it? In 1963 Kennedy proposed a tax cut that slashed business and individual tax rates by about 30 percent. It's true that tax rates were a lot higher then (90 percent in some cases) than now. But the philosophy was the same: Lower taxes will get businesses, investors and consumers going again and jump-start a lackluster economy.

There are other similarities between Trump and JFK on taxes. Democrats complain that the Trump tax cut will increase the deficit, just as Republicans made this same fatuous claim against the Kennedy tax cuts. President Kennedy declared at the New York Economic Club that 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."

He reminded Congress that America's biggest problem was not the budget deficit but a "growth deficit."

That sounds almost identical to what Donald Trump is saying today on taxes and what Chuck Schumer and Nancy Pelosi are arguing against.

JFK, posthumously, was proven exactly right, and the tax cut critics were refuted by actual events. After the tax cuts were enacted in 1964, America experienced one of the greatest periods of prosperity in our history.

The U.S. had three straight years of 6 percent growth -- the last time that has happened.

Larry Kudlow's 2016 book, "JFK and the Reagan Revolution," documented the post-JFK tax cut growth spurt: "The tax payments by the wealthiest filers nearly doubled. We had many quarters of 6 percent growth back then.

That same effect was duplicated when Ronald Reagan chopped the top income tax rates from 70 to 28 percent and the corporate rate from 48 to 35 percent. The share of taxes paid by the richest 1 percent rose from 19 percent in 1980 to above 25 percent by 1990, according to IRS tax return data. Total tax revenues surged from roughly $500 billion in 1980 to just over $1 trillion by 1990.

In 1986, Reagan's Tax Reform Act passed the U.S. Senate by a vote of-- are you sitting down? -- 97-3. This included the votes of such prominent Democrats as Bill Bradley, Ted Kennedy, Howard Metzenbaum and Sam Nunn. Where are the pro-growth Democrats today? Are there any?

In 1998, Bill Clinton, who had raised taxes in 1993, reversed course and signed into law one of the biggest bipartisan tax cuts in history, which included a slashing of the capital gains tax. The growth and employment boom was so great that the budget reached a budget surplus.

Democrats say they wish that Trump had put forward a bipartisan tax plan, but where is the Democratic alternative? The only alternative I've seen is Bernie Sanders' proposal to raise tax rates to 50, 60 or even 70 percent. Can anyone with a straight face argue that this would help the economy?

Sadly, the modern Democratic Party today has repudiated JFK economics. Now they are infuriated that Donald Trump has picked up that mantle. Readers can go to the Committee to Unleash Prosperity website and see and hear recordings of JFK dispensing wisdom on taxes. Here's one more excerpt from a radio address by Kennedy: "Every dollar released from taxation that is spent or invested will help create a new job and a new salary. And these new jobs and new salaries can create other jobs and other salaries."

There is one last similarity between JFK, Ronald Reagan and Donald Trump: economic optimism. President Trump shares their belief in American potential -- that there are no limits to our economy or our greatness. Trump says we can grow at 3 or 4 percent. Liberal pessimists dismiss this as wild-eyed happy talk. They are selling America short. The good news is that most Americans are with Trump, Reagan and JFK on the country's untapped potential.


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: bookreview; djt; jfk; kudlow; presidents
Trump is already outperforming the naysayers and, thanks to the Russia/collusion/NeverTrump crowd, hasn't even hit his stride yet. I hope nobody is getting tired of winning yet.
1 posted on 12/19/2017 8:53:55 PM PST by Oshkalaboomboom
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To: Oshkalaboomboom
GBDT ❤️
2 posted on 12/19/2017 8:56:46 PM PST by fullchroma
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To: Oshkalaboomboom

This is admittedly not directly on topic and I apologize. But did y’all see the a and e special tonight that had experts going over the just released Kennedy assassination documents. WAtch a rerun. They flat out proved Oswald worked with the Cubans and Soviets to take out Kennedy and that Hoover ordered a cover up to prevent my nuclear war from breaking ojt. It was fascinating


3 posted on 12/19/2017 9:01:38 PM PST by Panhandle.deporable
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To: Panhandle.deporable
I bet they didn't tell you the Oswald worked for the CIA, did they? Newly released documents per Trump order:

===============================================================


4 posted on 12/19/2017 10:00:44 PM PST by Karl Spooner
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To: Oshkalaboomboom

Lower taxes increase revenue bump


5 posted on 12/20/2017 12:04:00 AM PST by Luigi Vasellini (political class.......TERM LIMITS NOW!!!!!!!!!!)
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To: Karl Spooner

To take it even farther off topic - Bob Woodward, Watergate Reporter, was in Naval Intelligence and manned the secret back channels for Nixon and Kissinger, and briefed Haig back in 1969 and 1970. Both Haig and Woodward lied about ever meeting each other prior to 1973.


6 posted on 12/20/2017 12:16:41 AM PST by 21twelve (http://www.freerepublic.com/focus/f-news/2185147/posts FDR's New Deal = obama)
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To: Karl Spooner
JFK was assassinated by the Deep State, and Trump may yet be assassinated by the Deep State.
7 posted on 12/20/2017 5:31:15 AM PST by T-Bone Texan
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To: 21twelve

You know, it’s almost a waste of time to study history with all the embedded BS contained in it. Not reflecting on what you say, but the accuracy of history itself with man involved in writing it. The bible demonstrates this when the Nethinims were given duties by the lazy Levites to record information in books, ie, truth got corrupted.


8 posted on 12/20/2017 3:38:52 PM PST by Karl Spooner
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To: T-Bone Texan

Both Geminis.


9 posted on 12/20/2017 3:44:54 PM PST by txhurl (Banana Republicans, as far as the eye can see)
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To: T-Bone Texan

We owe Jfk this much no matter if one liked him or not. That being that Trump would have already been assassinated if it wasn’t for his murder and what we know about it now. The fact that they know that we know is a great hindrance to their desires.

You are right though, it could happen. Just as they trashed JFK AFTER his assassination, they are trashing Trump BEFORE it happens to make it more (in their sick minds) palatable.

Prayers are very important.


10 posted on 12/20/2017 4:08:56 PM PST by Karl Spooner
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To: Karl Spooner

I think we both agree the Prez is in great and constant danger. He threatens many powerful interests.

I just hope he fulfills JFK’s promise to “break the CIA into a thousand pieces and scatter them to the wind”, before they get to him.


11 posted on 12/21/2017 5:24:21 AM PST by T-Bone Texan
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To: T-Bone Texan

For that reason alone, he was a great president who gave his life for this country.


12 posted on 12/21/2017 3:07:44 PM PST by Karl Spooner
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