Obama vs. JFK on taxes

One of the hot-button political issues right now is the 2001/2003 tax cuts and the impact of letting them expire at the end of the year. Democrats have raised questions about the wisdom of sticking with the "economic policies of the past." And it's true - tax cuts are an economic policy from the past, but not in the way you might think. It turns out there's actually a debate between Democratic presidents about just what these tax cuts mean for the economy...and in less than two minutes, this video highlights that debate.

Category:

News & Politics

Tags:

• tax cuts
• Bush tax cuts
• Obama
• Kennedy
• JFK
• economy
• jobs
• politics
• policy

[jmccuddin]

What isn't mentioned is JFK reduced the tax rate from 78% to 72% he would not have reduced it to 35% that is just insane!!!

[Euphobiatic]

What Kennedy was really talking about: " In his 1963 State of the Union, he proposed substantial tax reform and reduction, in income tax rates, from the current range of 20–90% to a range of 14–65%; he proposed a reduction in the corporate tax rates from 52 to 47%" - but hey, don't let the facts get in the way of your ideology.

[GodfatherInOhio]

@Euphobiatic

Kennedy once said "Mankind must put an end to war, or war will put an end to mankind".

Along the lines of JFK's reckoning...

"Americans must put an end to the national debt, or the national debt will put an end to America".

[trick29420]

@manyworlds We were also still tethered to the Brenton woods monetary system during this time. Before Nixon took us off and gov'ts ballooning debts and deficits wreaked havoc on us ever since.

[manyworlds]

More of the same old nonsense that tax cuts = increased revenue...yeah, and unicorns have been known to graze on the White House lawn. In early 1963, before JFK's reforms were passed, inflation was stable, corporate profits were at a record high, and the stock market had rebounded, but unemployment was still at 5.7 percent. JFK wanted to put money in the hands of consumers (a demand-side cut), not businesses (a supply-side cut, the old GOP "trickle down" myth).

[therrydicule]

@macracer005 Just look at Apple. Why they build Iphone in China? Chinese factory are much more flexible. Want to put a new screen within a week of a launch because the screen of the prototype get scratch too easily? Done in 2 days. Change the bolt, 2 hours.

Same thing in USA - "Fuck you, I'm not working by night or week-end and fuck the bolt" - product launch retarded... Want to put a kaizen in place? "Fuck the checking! Where my check"

Forget taxes, it's the mentality&competence.

[therrydicule]

@macracer005 I agree, tax are killing everyone : 15%! However, Germany is doing really well with is... Oh, wait, they have 40% :L

Sure, there is a deadweight, but gov't have to get a higher return on a dollar. It's investment 101 - don't trade 4 quarter for a dollars...

What ran business out of town is rather general share of technical incompetence and the lack of flexibility of the american industry. Tax would be negative, I will still not invest in USA nor I will buy a Chrysler.

[macracer005]

@therrydicule Fine, if that is all the gov't would do. Fix the roads and infrastructure. But they don't. They run businesses out of town with all the taxes and regulation. Gov't takes everyones money and flushes it into a freakin toilet. You want more welfare programs handing out free money, or housing projects that become incubators for human vermin. Democrats have finally succeeded in creating a perpetual motion machine, Democrats creates dependent people, dependent people vote for Demoncrats.

[macracer005]

@coololds85 If JFK were alive today, (pro military, pro tax cuts, and conservative to boot), he would would be a Republican. Reagan was also a democrat before he realized that party morphed into socialist anarchist losers. JFK cut income taxes from 90% to 70% (top tax bracket), Reagan fixed Carters pathetic economy by cutting taxes to 38% on the top earners. Democrats try to help the poor by strangling businesses. When Obama gets re-elcted we will all be poor and dependent on the Govt, sadly. 

[Jantv81]

@coololds85 Kennedy was actually classified as a more conservative Democrat. His times were much different compared to the times we are in now. Another thing is Kennedy died before his term was fully out. He did what he could when alive: Peace Corps, dealing with Castro's Cuba and Khrushchev's Russia. I can't really compare the two- but at least Kennedy was neither communist or socialist.

[PatriotNotGovernment]

@jmccuddin the US has some of the highest taxes in the world STILL

[rgarcia77]

"Facts to a liberal is like kryptonite to Superman."..L.Elder