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The fascinating, suppressed history of how JFK pioneered supply-side economics. John F. Kennedy was the first president since the 1920s to slash tax rates across-the-board, becoming one of the earliest supply-siders. 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. One person who followed JFK’s tax-cut growth model was Ronald Reagan. This is the never-before-told story of the link between JFK and Ronald Reagan. This is the secret history of American prosperity. JFK realized that 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 uninterrupted 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. We meet a fascinating cast of characters, especially Treasury Secretary Douglas Dillon, a Republican. Dillon’s opponents, such as liberal economists Paul Samuelson, James Tobin, and Walter Heller, fought to maintain the high tax rates—including an astonishing 91% top rate—that were smothering the economy. In a wrenching struggle for the mind of the president, Dillon convinced JFK of the long-term dangers of nosebleed income-tax rates, big spending, and loose money. Ultimately, JFK chose Dillon’s tax cuts and sound-dollar policies and rejected Samuelson and Heller. In response to Kennedy’s revolutionary tax cut, the economy soared. But as the 1960s wore on, the departed president’s priorities were undone by the government-expanding and tax-hiking mistakes of Presidents Johnson, Nixon, Ford, and Carter. The resulting recessions and the “stagflation” of the 1970s took the nation off its natural course of growth and prosperity-- until JFK’s true heirs returned to the White House in the Reagan era. Kudlow and Domitrovic make a convincing case that the solutions needed to solve the long economic stagnation of the early twenty-first century are once again the free-market principles of limited government, low tax rates, and a strong dollar. We simply need to embrace the bipartisan wisdom of two great presidents, unleash prosperity, and recover the greatness of America. From the Hardcover edition.
The history we can’t afford to forget At last, the definitive history of supply-side economics—an incredibly timely work that reveals the foundations of America’s prosperity when those very foundations are under attack. In the riveting, groundbreaking book Econoclasts, historian Brian Domitrovic tells the remarkable story of the economists, journalists, Washington staffers, and (ultimately) politicians who showed America how to get out of the 1970s stagflation and ushered in an unprecedented quarter-century run of growth and opportunity. Based on the author’s years of archival research, Econoclasts is a masterful narrative history in the tradition of Amity Shlaes’s The Forgotten Man and John Steele Gordon’s An Empire of Wealth.
A controversial portrait of the thirty-fifth president explores his less-recognized roles in promoting anti-communism, tax cuts, free trade, and other agendas that had distinctly conservative stances.
It's been fifty years since JFK’s assassination and nearly twenty since Ronald Reagan disappeared from public life. While they never ran head-to-head, they developed their legacies in competing ways and those legacies battle each other even today. The story of one illuminates the other, and explains our expectations for the presidency and whom we elect. Even though one is the model Democrat and the other the model Republican, their appeal is now bipartisan. Republicans quote Kennedy to justify tax cuts or aggressive national defense; Democrats use Reagan’s pragmatism to shame Republicans into supporting tax increases and compromise. Partly a "comparative biography" that explores John F. Kennedy’s and Ronald Reagan’s contemporaneous lives from birth until 1960, Scott Farris's follow-up to his widely praised Almost President shows how the experiences, attitudes, and skills developed by each man later impacted his presidency. Farris also tackles the key issues--civil rights, foreign affairs, etc.--that impacted each man’s time in office. How did previous life experiences form their views on these issues, and how do their dealings around each issue compare and contrast? Bookended by an examination of their standing in public opinion and how that has influenced subsequent politicians, plus an exploration of how the assassination of Kennedy and attempted assassination of Reagan colored our memories, this book also shows how aides, friends and families of each man have burnished their reputations long after their presidencies ended.
Lawrence Kudlow is CEO of Kudlow & Co. LLC, an economic and investment research firm in New York City. He is consistently ranked one of the nation’s premier and most accurate economic forecasters according to The Wall Street Journalsemiannual forecasting survey, and he offers his wealth of insights in a myriad of news outlets. He is a nationally syndicated columnist and contributing editor of National Review magazine. As a trusted adviser to many of our nation’s top decision-makers in Washington, he has testified as an expert witness on economic matters before several congressional committees.
The former White House aide and co-host of "Ludlow & Cramer" argues that the supply-side approach is both bipartisan and the only path to robust growth and a victory in the war against terrorism.

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