The only thing JFK has in common with modern Republicans is a cold war military mentality. At least he had the excuse of being president during the actual Cold War.
Really?
MYTH: JFK’s tax cuts were more responsible than Reagan’s or Bush’s. They were aimed at the middle class and didn’t help the rich.
FACT: JFK cut taxes more than Reagan did. JFK’s tax cut was larger than the Reagan tax cuts and any single Bush tax cut compared with national income, and it was larger than all three Bush tax cuts combined in relation to the federal budget. In addition, JFK gave a huge tax cut to the rich.
The Tax Foundation:
Contrasting the size of the tax cuts with national income shows that the Kennedy tax cut, representing 1.9 percent of income, was the single largest first-year tax-cut of the post-WW II era. The Reagan tax cuts represented 1.4 percent of income while none of the Bush tax cut even breaks 1 percent of income. The Kennedy tax cuts would only have been surpassed in size by combining all three Bush tax cuts into a single package.
Comparing the size of these tax cuts with the federal budget shows that the Kennedy’s tax cuts represented 8.8 percent of the budget. In 1981, Reagan’s tax cuts represented 5.3 percent of the budget. Each of Bush’s tax cuts are smaller than Reagan’s—EGTRRA (3.8 percent), JCWA (2.5 percent) and the 2003 Tax Cut (1.8 percent). When the Bush tax cuts are combined (8.1 percent), they would be larger than Reagan’s tax cut, yet smaller than Kennedy’s tax cut. ("Fiscal Facts," Tax Foundation,
http://www.taxfoundation.org/news/show/323.html)
Jeff Jacoby:
By any rational yardstick, the Kennedy tax cut was enormous, and it was a boon to the rich. It cut the top marginal rate a whopping 21 percentage points, from 91 to 70. Bush's plan lowers rates at the top by only 6.6 percentage points. For those in the lowest bracket, JFK cut the tax rate to 14 percent. . . . (
http://www.jewishworldreview.com/jeff/jacoby031601.asp)
MYTH: Lower tax rates don’t cause economic growth.
FACT: Even JFK understood that lower tax rates produce economic growth and even higher tax revenue. According to President Kennedy:
Our true choice is not between tax reduction, on the one hand, and the avoidance of large federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget — just as it will never produce enough jobs or enough profits. Surely the lesson of the last decade is that budget deficits are not caused by wild-eyed spenders but by slow economic growth and periodic recessions, and any new recession would break all deficit records.
In short, 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 rates now. The experience of a number of European countries and Japan have borne this out. This country's own experience with tax reduction in 1954 has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus. (
http://www.americanrhetoric.com/speeches/jfkeconomicclubaddress.html)
http://www.mtgriffith.com/web_documents/taxcutmyths.htm