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 tha… - John F. Kennedy
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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 Fitzgerald Kennedy (29 May 1917 – 22 November 1963), often referred to by his initials JFK and Jack, was the 35th president of the United States (1961–1963), a United States senator from Massachusetts (1953–1960), and a United States representative (1947–1953). Kennedy served at the height of the Cold War, and the majority of his work as president concerned relations with the Soviet Union and Cuba. He is the older brother of Robert F. Kennedy and Ted Kennedy, and the first husband of Jacqueline Kennedy Onassis. He was shot in the presence of his wife in Dallas on November 22, 1963.
Portrait adapted from
Wikimedia Commons, Cecil W. Stoughton (Public domain / CC0)
Also Known As
Birth Name:
John Fitzgerald Kennedy
Also Known As:Jack
Alternative Names:
Kennedy
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Jack Kennedy
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President Kennedy
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J. F. Kennedy
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JFK
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John Kennedy
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John Fitzgerald "Jack" Kennedy
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JF Kennedy
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John F Kennedy
There may be those who wish to hear more — more promises to this group or that — more harsh rhetoric about the men in the Kremlin — more assurances of a golden future, where taxes are always low and subsidies ever high. But my promises are in the platform you have adopted — our ends will not be won by rhetoric and we can have faith in the future only if we have faith in ourselves.
But physical fitness is as vital to the activities of peace as to those of war, especially when our success in those activities may well determine the future of freedom in the years to come. We face in the Soviet Union a powerful and implacable adversary determined to show the world that only the Communist system possesses the vigor and determination necessary to satisfy awakening aspirations for progress and the elimination of poverty and want. To meet the challenge of this enemy will require determination and will and effort on the part of all Americans. Only if our citizens are physically fit will they be fully capable of such an effort.
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The effort to improve the conditions of man, however, is not a task for the few. It is the task of all nations — acting alone, acting in groups, acting in the United Nations, for plague and pestilence, and plunder and pollution, the hazards of nature, and the hunger of children are the foes of every nation. The earth, the sea, and the air are the concern of every nation. And science, technology, and education can be the ally of every nation. Never before has man had such capacity to control his own environment, to end thirst and hunger, to conquer poverty and disease, to banish illiteracy and massive human misery. We have the power to make this the best generation of mankind in the history of the world — or to make it the last.
