The Politically Incorrect Guide to the Presidents: From Wilson to Obama by Steven F. Hayward
Author:Steven F. Hayward [Hayward, Steven F.]
Language: eng
Format: epub, mobi
Tags: History, Non-Fiction, Patriot Bookshelf
ISBN: 9781596987760
Publisher: Regnery Publishing
Published: 2012-02-13T00:00:00+00:00
JFK, Supply-Sider
One of the ironies of Kennedy becoming the posthumous liberal hero is that many liberals distrusted him both as a candidate and while he was president, and Kennedy had to go to significant lengths to assuage liberal doubts about him, mostly by hiring liberals for high-profile jobs and offering them constant flattery, which usually works on liberal intellectuals. JFK was notably cautious on civil rights and often fretted that the civil rights movement would be politically damaging to him. While much of his voting record on economic issues in Congress followed the main Democratic Party line—pro-union, and for a higher minimum wage—Kennedy did not embrace redistribution or trade protectionism. On the contrary, Kennedy was for economic growth and believed that “a rising tide lifts all boats.” During the Eisenhower years the economy had grown at a steady rate of about 2.5 percent a year, slightly below the long-term U.S. average rate of more than 3 percent. And there had been three short and mild recessions. Kennedy felt this rate of growth was too slow, and advocated that the U.S. achieve 5 percent growth in the 1960s. Rather than adopt Keynesian-style government spending like FDR, or President Obama today, Kennedy proposed significant reductions in income tax rates, which were as high as 91 percent when he took office. Kennedy, who had gotten a C in economics at Harvard (probably to his great advantage), understood what came to be known as the supply-side effects of income tax cuts, as he explained in a major speech in 1961:
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