“The final and best means of strengthening demand among consumers and business is to reduce the burden on private income and the deterrents to private initiative which are imposed by our present tax system.”

— John F. Kennedy

1962, Address and Question and Answer Period at the Economic Club of New York (549)

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John F. Kennedy 469

35th president of the United States of America 1917–1963

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“The final and best means of strengthening demand among consumers and business is to reduce the burden on private income and the deterrents to private initiative which are imposed by our present tax system; and this administration pledged itself last summer to an across-the-board, top-to-bottom cut in personal and corporate income taxes to be enacted and become effective in 1963.”

John F. Kennedy (1917–1963) 35th president of the United States of America

Source: 1962, Address and Question and Answer Period at the Economic Club of New York

“When the government makes loans or subsidies to business, what it does is to tax successful private business in order to support unsuccessful private business.”

Henry Hazlitt (1894–1993) American journalist

“The primary driver of final consumer demand is, of course, the level of disposable income.”

Peter Dicken (1938) British geographer

Source: Global Shift (2003) (Fourth Edition), Chapter 14, The Distribution Industries, p. 475

“A tax cut means higher family income and higher business profits and a balanced federal budget…. As the national income grows, the federal government will ultimately end up with more revenues. Prosperity is the real way to balance our budget. By lowering tax rates, by increasing jobs and income, we can expand tax revenues and finally bring our budget into balance.”

John F. Kennedy (1917–1963) 35th president of the United States of America

Source: "Radio and Television Address to the Nation on the Test Ban Treaty and the Tax Reduction Bill" (18 September 1963) http://www.presidency.ucsb.edu/ws/?pid=9413

“By strengthening the protection of the citizen whose testimony is necessary and indispensable for the successful prosecution of a case, we also strengthen accountability and reduce corruption in the public and private sectors.”

Francis Escudero (1969) Filipino politician

The Philippine Daily Inquirer http://newsinfo.inquirer.net/465547/escudero-files-bill-expanding-protection-of-witnesses-whistleblowers
2013

“The major disadvantage of the proposed negative income tax is its political implications. It establishes a system under which taxes are imposed on some to pay subsidies to others. And presumably, these others have a vote.”

Milton Friedman (1912–2006) American economist, statistician, and writer

Source: (1962), Ch. 12 The Alleviation of Poverty, 2002 edition, p. 194

“I do want to reduce the income tax and if possible, eliminate the income tax…The first thing you do is balance the budget, then reduce the size of government.”

Rand Paul (1963) American politician, ophthalmologist, and United States Senator from Kentucky

2000s

“I am talking about the accumulated evidence of the last 5 years that our present tax system, developed as it was, in good part, during World War II to restrain growth, exerts too heavy a drag on growth in peace time; that it siphons out of the private economy too large a share of personal and business purchasing power; that it reduces the financial incentives for personal effort, investment, and risk-taking. In short, to increase demand and lift the economy, the Federal Government's most useful role is not to rush into a program of excessive increases in public expenditures, but to expand the incentives and opportunities for private expenditures. [...] While rising demand will expand imports, new investment in more efficient productive facilities will aid exports and a new economic climate could both draw capital from abroad and keep capital here at home.”

John F. Kennedy (1917–1963) 35th president of the United States of America

Source: 1962, Address and Question and Answer Period at the Economic Club of New York

“Our challenge is to create the kind of economic background which enables private initiative and private enterprise to flourish for the benefit of the consumer, employee, the pensioner, and society as a whole…I believe we should judge people on merit and not on background. I believe the person who is prepared to work hardest should get the greatest rewards and keep them after tax. That we should back the workers and not the shirkers: that it is not only permissible but praiseworthy to want to benefit your own family by your own efforts”

Margaret Thatcher (1925–2013) British stateswoman and politician

Speech at Young Conservative Conference (8 February 1975) http://www.margaretthatcher.org/document/102484
Shadow Secretary for Environment

“Anybody can reduce taxes, but it is not so easy to stand in the gap and resist the passage of increasing appropriation bills which would make tax reduction impossible. It will be very easy to measure the strength of the attachment to reduced taxation by the power with which increased appropriations are resisted. If at the close of the present session the Congress has kept within the budget which I propose to present, it will then be possible to have a moderate amount of tax reduction and all the tax reform that the Congress may wish for during the next fiscal year. The country is now feeling the direct stimulus which came from the passage of the last revenue bill, and under the assurance of a reasonable system of taxation there is every prospect of an era of prosperity of unprecedented proportions. But it would be idle to expect any such results unless business can continue free from excess profits taxation and be accorded a system of surtaxes at rates which have for their object not the punishment of success or the discouragement of business, but the production of the greatest amount of revenue from large incomes. I am convinced that the larger incomes of the country would actually yield more revenue to the Government if the basis of taxation were scientifically revised downward. Moreover the effect of the present method of this taxation is to increase the cost of interest. on productive enterprise and to increase the burden of rent. It is altogether likely that such reduction would so encourage and stimulate investment that it would firmly establish our country in the economic leadership of the world.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Second State of the Union Address (1924)

“The final and best means of strengthening demand among consumers and business is to reduce the burden on private income and the deterrents to private initiative which are imposed by our present tax system.”

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John F. Kennedy 469

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