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John F. Kennedy on Corporations


Threat of price-fixing probe got Big Steel to lower prices

The president created an informal task force on the issue. The Defense Department announced that a $5.5 million order for steel plates would go entirely to a smaller company that had not raised prices. The Federal Trade Commission promised a price-fixing probe. Senator Estes Kefauver announced that his Anti-trust and Monopoly Subcommittee would investigate the steel industry.

The resolve of the steel magnates broke when Inland Steel of Chicago, the eighth largest company in the industry, refused to raise its prices. Before long, Bethlehem Steel, the nation's second largest producer, capitulated, and the U.S. Steel caved in. Steel prices returned to the level they had been at the start of the week.

Source: A Question of Character, by Thomas Reeves, p.331-332 , Dec 10, 1997

Shift tax payments of large corporations to a current time

Budgetary receipts [should] be increased by $1.5 billion a year, without any change in tax liabilities, by gradually shifting the tax payments of large corporations to a more current time schedule.

[With other measures], this net reduction in tax liabilities of $10 billion will increase the purchasing power of American families and business enterprises in every tax bracket, with greatest increase going to our low-income consumers. I do not say that a measure for tax reduction and reform is the only way to achieve these goals.

Source: Pres. Kennedy's 1963 State of the Union message to Congress , Jan 14, 1963

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George W. Bush(R,2001-2009)
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George Bush Sr.(R,1989-1993)
Ronald Reagan(R,1981-1989)
Jimmy Carter(D,1977-1981)
Gerald Ford(R,1974-1977)
Richard Nixon(R,1969-1974)
Lyndon Johnson(D,1963-1969)
John F. Kennedy(D,1961-1963)
Dwight Eisenhower(R,1953-1961)
Harry S Truman(D,1945-1953)

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Page last updated: Mar 16, 2014