“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.”
– President John F. Kennedy, January 17, 1963, Annual Budget Message to the Congress, fiscal year 1964
Note: Joe Biden is a bloody moron.
Filed under: American History, economy, History, Obama Economy, Our Dear Leader, Politics, Taxes
Let us set the Way Back Machine to 1962, when a democrat President presented his plan to create jobs and economic spur growth.
That’s right, dear readers, President Kennedy called for across the board tax cuts and tax reform in order to create jobs, grow the economy, and increase federal revenue.
Unlike our Dear Leader‘s plan of jacking taxes through the roof, President Kennedy’s plan was successful.
“Tax revenues climbed from $94 billion in 1961 to $153 billion in 1968, an increase of 62 percent (33 percent after adjusting for inflation).”
“Washington [D.C.] is a city of Southern efficiency and Northern charm.”
— President John F. Kennedy