Indiana Jones and the Lib Crusade
In 1962 John F. Kennedy gave a speech, an earth-shattering speech at the New York Economic Club. Now, at the time he gave this speech the top marginal tax rate in the United States — are you ready? — was 91%. That was the top marginal rate. Now, not very many people paid it, but that’s what it was. We were coming out of the boom of the post war period through 1950, and the boom was slowing down. The country was not in a recession, but the economy was just sort of stagnant. It was just chugging along, and Kennedy was starting to worry about being reelected. He’d have to run again in two years.
So he went to the New York Economic Club, and he proposed an economic reform package that had as its centerpiece massive across-the-board tax cuts. He sounded, in that speech, no different that Ronald Reagan sounded in the 1980s. Now, he was assassinated before the proposal had a chance to be voted on and signed into law. It eventually was, partially in honor of Kennedy. There isn’t a Democrat alive today, not in Washington, there is not an elected Democrat who would propose a tax cut of one penny. Now, they will say they will on middle-class people, poor people, but they’re not. They are raising everybody’s taxes.
In fact, I’ve got a story right here from the AP: Insurers are warning of sticker shock due to Obamacare’s new taxes. “Some Americans could see their insurance bills double next year as the health care overhaul law expands coverage to millions of people.” Insurance premiums are not gonna go down 2,500 bucks. They’re gonna double for almost everybody. That’s a tax increase. That’s Obama. That’s today’s Democrat Party. Every Democrat in the country voted for it. That’s just one illustration of the difference. I dare say, Indiana, if JFK were alive today and were the same guy today that he was in ’60, he wouldn’t be a Democrat. They wouldn’t let him in the party. They woulda kicked him out and they’d be trashing him the way they trash any Republican.
In fact, Indiana, a lot of people think that the Democrat Party’s shift to the far, extreme, radical left began with the assassination of JFK. Hubert Humphrey was a presidential candidate in his day for the Democrats in the Kennedy era. Hubert Humphrey, we played the sound bites. Hubert H. Humphrey did a speech on the importance of family values that sounds just like Pat Robertson today, back in the 1960s. Now, you were gonna interrupt me and ask a question. What were you gonna say? ‘Cause I don’t want to have diarrhea of the mouth here and miss a question that you might have.