Just a week ago President Trump released his proposal to reduce tax rates on corporations and individuals, and already the administration and its critics are talking past each other. The White House says its overall goal is to accelerate economic growth, while detractors reply that the tax plan will benefit the wealthy. But since when is tax relief for high earners and private sector job-creators at cross-purposes with a faster-growing economy? In 1961 a reporter asked President Kennedy why he supported a tax cut. The Kennedy-Johnson tax cut passed in 1964, and it included greater reductions in marginal rates for the wealthy than for the poor.

Source: Fox News October 04, 2017 18:11 UTC