Originally Posted by JFK
But I don't agree with those who say we should withdraw. That would be a great mistake. That would be a great mistake. I know people don't like Americans to be engaged in this kind of an effort. Forty-seven Americans have been killed in combat with the enemy, but this is a very important struggle even though it is far away.
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Let every nation know, whether it wishes us well or ill, that we shall pay any price, bear any burden, meet any hardship, support any friend, oppose any foe, in order to assure the survival and the success of liberty.
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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.
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Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased -- not a reduced -- flow of revenues to the federal government.
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Our tax system still siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort -- thereby aborting our recoveries and stifling our national growth rate.
