I think when we talk about corporal punishment, and we have to think about our own children, and we are rather reluctant, it seems to me, to have oth… - John F. Kennedy

I stress the strength of our economy because it is essential to the strength of our nation. And what is true in our case is true in the case of other countries. Their strength in the struggle for freedom depends on the strength of their economic and their social progress. We would be badly mistaken to consider their problems in military terms alone. For no amount of arms and armies can help stabilize those governments which are unable or unwilling to achieve social and economic reform and development. Military pacts cannot help nations whose social injustice and economic chaos invite insurgency and penetration and subversion. The most skillful counter-guerrilla efforts cannot succeed where the local population is too caught up in its own misery to be concerned about the advance of communism.'''

The margin is narrow, but the responsibility is clear.

Third, the new tax bill should improve both the equity and the simplicity of our present tax system. This means the enactment of long-needed tax reforms, a broadening of the tax base and the elimination or modification of many special tax privileges. These steps are not only needed to recover lost revenue and thus make possible a larger cut in present rates; they are also tied directly to our goal of greater growth. For the present patchwork of special provisions and preferences lightens the tax load of some only at the cost of placing a heavier burden on others. It distorts economic judgments and channels an undue amount of energy into efforts to avoid tax liabilities. It makes certain types of less productive activity more profitable than other more valuable undertakings. All this inhibits our growth and efficiency, as well as considerably complicating the work of both the taxpayer and the Internal Revenue Service. These various exclusions and concessions have been justified in part as a means of overcoming oppressively high rates in the upper brackets--and a sharp reduction in those rates, accompanied by base-broadening, loophole-closing measures, would properly make the new rates not only lower but also more widely applicable. Surely this is more equitable on both counts.