Make your best guess on who said the following, and when…
(Scroll down for the answer after you read this paragraph.)
“In short, 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. The experience of a number of European countries and Japan have borne this out. This country’s own experience with tax reduction… has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”
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It was President Kennedy, in an address to the Economic Club of New York n 1962. The focus of the speech was on increasing employment, strengthening the economy and our country’s defenses.
How did we get to where we are today?
http://www.americanrhetoric.com/speeches/jfkeconomicclubaddress.html