Fifty years after his assassination, we forget how JFK worried over the economy at that time.
From the JFK Library:
http://www.jfklibrary.org/JFK/JFK-in...and-Taxes.aspx
Quote:
The president finally decided that only a bold domestic program, including tax cuts, would restore his political momentum. Declaring that the absence of recession is not tantamount to economic growth, the president proposed in 1963 to cut income taxes from a range of 20-91% to 14-65% He also proposed a cut in the corporate tax rate from 52% to 47%. Ironically, economic growth expanded in 1963, and Republicans and conservative Democrats in Congress insisted that reducing taxes without corresponding spending cuts was unacceptable. Kennedy disagreed, arguing that “a rising tide lifts all boats” and that strong economic growth would not continue without lower taxes.
The battle over the tax cut and the deficit continued unabated through 1963. The House Ways and Means Committee voted a tax bill out of committee in August and the grateful president reiterated that lowering taxes was the surest path to full employment and lower deficits. Polls showed that over 60% of Americans favored the tax cuts. But, even with the public support of key business leaders like Henry Ford II and David Rockefeller, the Congressional log jam remained unbroken. JFK became increasingly convinced that domestic issues, the economy and civil rights, rather than foreign policy, would prove to be decisive in his 1964 reelection campaign.
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JFK made a lot of voice recordings of telephone conversations. Hedgecock played a funny one on his radio show today. The baby Patrick was due, and the Kennedy's were at an Air Force base, with no suitable maternity area set up - in the process of setting one up, someone spent $5,000 on furniture.
Jack was incensed, called an Air Force General, and told him to pack that stuff up tomorrow, and return it and get our money back! He further threatened through a cuss word or two, to have the Air Force person who did it, shipped to Alaska! (Oh! Send them to Adak Island, and they will repent!!)
Pretty funny, hearing Jack so wound up over $5,000 being spent. It's not like Jackie wanted to deliver Patrick, while lying on the floor! (Unfortunately, baby Patrick was stillborn).
He also played the tape of JFK conferring with Republican and former General and President, Dwight Eisenhower, about the Cuban Missile Crisis.
Americans, working together, understanding that taxes must be kept reasonably low to stimulate the economy. JFK's handling of the Cuban Missile Crisis. Where did these kinds of Democrats go, I wonder? Today we spend 1,000 times that much, and never bat an eye about it.
On the day of he was shot, we were brought in from our P.E. class, into an empty classroom, and somberly given the news. We were asked to say a silent prayer for JFK, his family, our leaders, and the country.
Such a sad day.