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Larry Kudlow & Brian Domitrovic discuss their new book JFK and the Reagan Revolution

September 12, 2016 @ 6:00 pm - 7:30 pm

JFK and the Reagan RevolutionJohn F. Kennedy was the first president since the 1920s to slash tax rates across-the-board. He was essentially the first supply-sider. Sadly, today’s Democrats have ignored JFK’s tax-cut legacy and have opted instead for an anti-growth, tax-hiking redistribution program, undermining America’s economy. According to liberal conventional wisdom, “the great postwar prosperity”—the most cherished period of American economic history—came because we were smart enough to tax the rich at very high rates, expand government spending, and redistribute wealth. Yet in fact, the opposite is true. As JFK realized, high taxes that punished success and fanned class warfare harmed the economy. In the 1950s, when high tax rates prevailed, America endured recessions every two or three years and the ranks of the unemployed swelled. Only in the 1960s did an interrupted boom at a high rate of growth (averaging 5 percent per year) drive a tremendous increase in jobs for the long term. The difference was Kennedy’s economic policy, particularly his push for sweeping tax-rate cuts. Kennedy was so successful in the ’60s that he directly inspired Ronald Reagan’s tax cut revolution in the 1980s, which rejuvenated the economy and gave us another boom that lasted for two decades. Lawrence Kudlow and Brian Domitrovic reveal the secret history of American prosperity by exploring the little-known battles within the Kennedy administration. They show why JFK rejected the advice of his Keynesian advisors, turning instead to the ideas proposed by the non-Keynesians on his team of rivals.

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Date:
September 12, 2016
Time:
6:00 pm - 7:30 pm
Event Category: