Boskin and Kennedy on Lowering Tax Rates
a. "It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now ... Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."
~ Nov. 20, 1962, president's news conference
~ Jan. 17, 1963, annual budget message to the Congress
~Jan. 21, 1963, annual message to the Congress: "The Economic Report Of The President"
d. "Our tax system still siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort – thereby aborting our recoveries and stifling our national growth rate."
e. "A tax cut means higher family income and higher business profits and a balanced federal budget. Every taxpayer and his family will have more money left over after taxes for a new car, a new home, new conveniences, education and investment. Every businessman can keep a higher percentage of his profits in his cash register or put it to work expanding or improving his business, and as the national income grows, the federal government will ultimately end up with more revenues."
~Sept. 18, 1963, radio and television address to the nation on tax-reduction bill