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Unlocking Obama's Economic Vision (Spoiler: It's Blurry)

Ron781 Wrote: Nov 16, 2012 12:02 PM
Just in case there are a few that do not think the Democrats have morphed into a new Progressive view please read this. John F. Kennedy, an icon of the Democratic Party who pushed for deep tax cuts, argued, "A rising tide lifts all boats." Urging a tax rate cut, Kennedy said: "It is a paradoxical truth that tax rates are too high today and tax revenues are too low -- and the soundest way to raise revenues in the long run is to cut rates now. The experience of a number of European countries has borne this out. This country's own experience with tax reductions 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 full employment. The purpose of cutting...

Wednesday’s press conference marked the first occasion journalists have had to question the President directly – about anything – in eight months, and President Obama tipped his hat on his plans to confront the coming fiscal cliff with chastened House Republicans. In short, he will probably raise tax rates for the wealthy.

But thanks to an explosive and, as my colleague Donny Deutsch put it, testosterone-fueled defense of UN Ambassador Susan Rice, a lot of what the President also said about his plans to reduce the deficit went ignored. That’s a shame – they were quite illuminating.

Before...