“Too large a tax cut, of course, could result in inflation and insufficient future revenues--but the greatest danger is a tax cut too little or too late to be effective.”

— John F. Kennedy

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

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John F. Kennedy 469

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

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“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.”

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

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

“If a tax cut increases government revenues, you haven't cut taxes enough.”

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

As quoted in "Milton Friedman's Last Lunch" at Forbes.com (11 December 2006)

“I repeat: our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve--and I believe this can be done--a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future.”

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

“There is no conservative party in Washington. There is a Democratic Party of tax-and-spend and a Republican Party of guns and butter and tax cuts, too. Washington is all accelerator, the brakes are gone.”

Patrick Buchanan (1938) American politician and commentator

2000s, Where the Right Went Wrong (2004)

“I think the Kennedy-Johnson tax cut was a marvelous success in 1964. It was too bad it was not implemented a little sooner, and Kennedy died, of course. After that, Johnson dallied for a while about raising taxes to pay for the war in Vietnam. The stimulus did not get reversed until the tax increase and expenditure cap of 1969, and that had a quick effect once it was enacted. As you know, we had a recession in 1969–1970.”

Lawrence Klein (1920–2013) American economist

"Keynsianism Again: Interview with Lawrence Klein", Challenge (May-June 2001)

“Good jobs depend on sound tax policy. Last year, some in this hall thought my tax relief plan was too small; some thought it was too big. But when the checks arrived in the mail, most Americans thought tax relief was just about right. Congress listened to the people and responded by reducing tax rates, doubling the child credit, and ending the death tax. For the sake of long-term growth and to help Americans plan for the future, let's make these tax cuts permanent.”

George W. Bush (1946) 43rd President of the United States

2000s, 2002, State of the Union address (January 2002)

“We gave the greatest -- the biggest tax cut in history.”

Donald J. Trump (1946) 45th President of the United States of America

Claimed, without evidence, as quoted by * 2020-10-20
Fact-checking Trump's dishonest weekend: The President made at least 66 false or misleading claims in three days
Daniel Dale
CNN
https://edition.cnn.com/2020/10/19/politics/fact-check-trump-dishonest-weekend-florida-michigan-georgia-wisconsin/index.html
2020s, 2020, October

“The problem is not that people are taxed too little, the problem is that government spends too much.”

Ronald Reagan (1911–2004) American politician, 40th president of the United States (in office from 1981 to 1989)

[Conservatives betrayed: how George W. Bush and other big government republicans hijacked the Conservative cause, Viguerie, Richard A., Bonus Books, 978-1-56625-285-0, 43]
Attributed

“One of the hackneyed liberal complaints goes something like this: 'Bush is the first president in history to cut taxes during a war.' Nonsense. Bush didn’t cut taxes; he cut tax rates across the board - on income, dividends and capital gains. And that’s precisely why tax revenues have soared. When a department store wants to make more money, it doesn’t raise its prices, it cuts them and announces a big sale. If you want more work and investment, you hold a sale on economic activity by cutting tax rates, thereby reducing the cost of productive activity and increasing the prospect of after-tax returns on work and investment.”

Mike Rosen (1944) American political pundit

July 22, 2005 Rocky Mountain News column

“Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenue to balance our budget just as it will never produce enough jobs or enough profits. Surely the lesson of the last decade is that budget deficits are not caused by wild-eyed spenders but by slow economic growth and periodic recessions, and any new recession would break all deficit records. 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 in 1954 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.”

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

“Too large a tax cut, of course, could result in inflation and insufficient future revenues--but the greatest danger is a tax cut too little or too late to be effective.”

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John F. Kennedy 469

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