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Fri Oct 12, 2012, 05:27 PM

When Republican's Bring Up JFK's Tax Cuts, They Are Not Telling The Truth. -here it is-

written by Steve Benen a contributing writer to the Washington Monthly

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So, let’s set the record straight. When Kennedy cut taxes, he lowered the top marginal tax from 91% to 65%. Many congressional Republicans opposed his plan at the time, citing concerns that the treasury couldn’t afford such a tax break — the Republican Party used to be quite serious about fiscal responsibility, but it’s been a half-century — but Kennedy proceeded anyway because the higher rates, instituted during World War II, were no longer necessary.

Also at the time, the country had very little debt — Eisenhower, thankfully, kept taxes high throughout the 1950s — almost no deficit. Fiscal conditions, obviously, are far different now.

Keep in mind, unlike contemporary GOP policy, Kennedy’s plan distributed “peace dividends” broadly across the wage spectrum. As the Joint Committee on Internal Revenue Taxation explained at the time, the bottom 85% of the population received 59% of the benefits of JFK’s tax cut. The top 2.4% received 17.4% of the tax cut, and the top 0.4% received just 6% of it.Those on the right who see themselves as descendents of the Kennedy policy are either deeply confused or they assume you won’t bother to learn the truth.
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full article cached at: http://bureaucountydems.blogspot.com/2011/09/when-republicans-cite-jfks-tax-cuts.html

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Reply When Republican's Bring Up JFK's Tax Cuts, They Are Not Telling The Truth. -here it is- (Original post)
mikekohr Oct 2012 OP
JaneyVee Oct 2012 #1

Response to mikekohr (Original post)

Fri Oct 12, 2012, 05:28 PM

1. Bring back the JFK tax rates.

 

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