Saturday, September 08, 2012

Economics 101

“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 tax rates…. [A]n economy constrained by high tax rates will never produce enough revenue to balance the budget, just as it will never create enough jobs or enough profits.” Democratic President, John F. Kennedy, 1963.

Friends, this is supply side economics. It works: Kennedy knew it; Reagan knew it. See also the Laffer curve for the details in economics.

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