Another surprising fact brought out in this book is that the Democrats and Republicans both took positions during the Kennedy administration that were the direct opposite of the positions they take today. As Stephen Moore points out, "the Republicans almost universally opposed and the Democrats almost universally favored" the cuts in tax rates that President Kennedy proposed.
Such Republican Senate stalwarts as Barry Goldwater and Bob Dole voted against reducing the top tax rate from 91% to 70%. Democratic Congressman Wilbur Mills led the charge for lower tax rates.
Unlike the Republicans today, John F. Kennedy had an answer when critics tried to portray his tax cut proposal as just a "tax cut for the rich." President Kennedy argued that it was a tax cut for the economy, that changed incentives meant a faster growing economy and that "A rising tide lifts all boats."
If Republicans today cannot seem to come up with their own answer when critics cry out "tax cuts for the rich," maybe they can just go back and read John F. Kennedy's answer.
A truly optimistic person might even hope that media pundits would go back and check out the facts before arguing as if the only way to reduce the deficit is to raise tax rates on "the rich."
If they are afraid that they would be stigmatized as conservatives if they favored cuts in tax rates, they might take heart from the fact that not only John F. Kennedy, but even John Maynard Keynes as well, argued that cutting tax rates could increase tax revenues and thereby help reduce the deficit.
Because so few people bother to check the facts, Barack Obama can get away with statements about how "tax cuts for the rich" have "cost" the government money that now needs to be recouped. Such statements not only promote class warfare, to Obama's benefit on election day, they also distract attention from his own runaway spending behind unprecedented trillion dollar deficits.
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