Tax Reduction – A Thought From JFK

Tax reduction thus sets off a process that can bring gains for everyone, gains won by marshalling resources that would otherwise stand idle—workers without jobs and farm and factory capacity without markets. Yet many taxpayers seemed prepared to deny the nation the fruits of tax reduction because they question the financial soundness of reducing taxes when the federal budget is already in deficit. Let me make clear why, in today’s economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarged the federal deficit—why reducing taxes is the best way open to us to increase revenues.

—President John F. Kennedy, Economic Report of the President,  January 1963

The discussion of taxation is an interesting one.  Yes, there are taxes that are necessary for some basic necessities that we all need and share.  For instance, our military is a much needed entity.   But, when the government can, for the sake of simply bringing more money into the coffers, tax as it wishes, then we have an issue.

Why does a government raise taxes?  One, it seems, for funding of programs it deems necessary.  The other reason taxes are increased is to compensate for over-the-top, out-of-control, and unfettered spending.  It’s called lack of budgeting properly.

We need our government to be held accountable for the dollars it wastes!  Don’t you think? Think failed stimulus…think government bailouts…think failing social security!  Completely misdirected funds due to over zealous, incompetent fools engaging in mismanagement of the taxpayers money.

When our government gets out-of-hand with its spending, and there seems to be no end in sight, how do we then expect that any amount of taxation will do the trick?  When does the bleeding stop? Seriously, if government is spending tax money faster than it comes in and operates haphazardly, how then can we trust it to do the essentials, like fund those key elements necessary for a vital nation?  We can’t!

John F. Kennedy states this thought brilliantly!

Wake up Washington!  Taxation must decrease if we are to increase.  How difficult is it to get that concept?

Lifewarrior