John F. Kennedy in Time to Get Tough, by Donald Trump

On Tax Reform: 1962: Paradoxically raise revenues by cutting tax rates

President Ronald Reagan said, "The more government takes in taxes, the less incentive people have to work. If, on the other hand, you reduce tax rats and allow people to spend or save more of what they earn, they'll become more industrious; they'll have more incentive to work hard, and money they earn will add fuel to the great economic machine that energizes our national progress. The result: more prosperity for all--and more revenue for government."

But Reagan wasn't the only president who understood that lower taxes yield higher revenues by unleashing economic growth and job creation. To many Democrats' chagrin, Reagan was merely echoing the economic thoughts of President John F. Kennedy, who had already said, in 1962, "The paradoxical truth is that the tax rates are too high today and tax revenues are too low and the soundest way to raise revenues in the long run is to cut rates now."

Source: Time to Get Tough, by Donald Trump, p. 51-52 Dec 5, 2011

The above quotations are from Time to Get Tough: Making America #1 Again, by Donald Trump. Click here for main summary page. Click here for a profile of John F. Kennedy. Click here for John F. Kennedy on all issues.
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