Fox Nation explores prosperous years, efficient tax cuts from Kennedy to Reagan
Fox News
In the newest episode of Fox Nation’s T'he Unauthorized History of Taxes,' host Bret Baier takes a deep dive into the 1960s and 1980s – two eras associated with cutting taxes and economic prosperity.
Baier explained that at the beginning of the 60s, Democrats pushed to raise taxes to fund social programming while Republicans wanted the raise to pay down the federal debt. But Kennedy had a different plan that would "spark a revolution in tax policy." He wanted to cut taxes and increase revenues. Laffer Associates founder and father of supply-side economics Art Laffer explained Kennedy’s tax cut, at most from 91% to 70%, launched the U.S. economy into surpluses as the stock market doubled by 1966.More Related News