JFK Speaking of the Virtues of Tax Cuts

"This administration intends to cut taxes in order to build the fundamental strength of our economy, to remove a serious barrier to long-term growth, to increase incentives by routing out inequities and complexities and to prevent the even greater budget deficit that a lagging economy would otherwise surely produce. The worst deficit comes from a recession, and if we can take the proper action in the proper time, this can be the most important step we could take to prevent another recession. That is the right kind of tax cut both for your family budget and the national budget…Every dollar released from taxation that is spent or invested will help create a new job and a new salary. And these new jobs and new salaries can create other jobs and other salaries and more customers and more growth for an expanding American economy."

- John F. Kennedy: Radio and TV Report to the United States on the Economy , August 13, 1962