Kennedy on Taxes

"Tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now. Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."

"A tax cut means higher family income and higher business profits and a balanced federal budget. Every taxpayer and his family will have more money left over after taxes for a new car, a new home, new conveniences, education and investment. Every businessman can keep a higher percentage of his profits in his cash register or put it to work expanding or improving his business, and as the national income grows, the federal government will ultimately end up with more revenues."

Kennedy was smart enough to know that cutting taxes not only helps families in the short term and long term, but that greater personal income means greater income tax revenue for the government.

History shows that tax hikes hurt the economy every time they're applied. Tax rates reduce personal income, job creation, and income tax revenues because incomes are reduced.

by Brett Rogers, 9/20/2011 10:11:25 AM
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