Sunday, 14 October 2012

Thoughts on tax from JFK...


It's hard not to smile at the likely discomfort that this might cause for all those "progressives" who wish to tax anyone with slightly more income than average until their bones crack. Here's JFK on tax:

An economy hampered by restrictive tax rates will never produce enough revenues to balance our budget just as it will never produce enough jobs or enough profits… 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.

So there you have it "progressives", one of your saints believed that cutting taxes led to growth and higher tax revenues. And he is right. Go watch the whole speech.

If we want growth, we must cut taxes. It really is as simple as that. And not the cut taxes for one set of folk while raising them for others. Not the cut taxes and load it on to duty. Actually cut taxes - and if that means government has to do a little less, that the welfare system is simpler and targeted to the needy and that people take more responsibility for their own health, then so be it.



singapore sling said...

But he said it in 1963, when taxes were far higher than they are now. It's entirely consistent for the same person to think that taxes were too high then and are too low now. Your attempt at scoring points is, accordingly, a failure.

Simon Cooke said...

Except that hereabouts taxes are a great deal higher than they were in 1963. So my point is true.

I win!!