@StephenMoore: JFK was the first modern supply-side, tax-cutting president. Last year, even with only the first year of the tax cut kicking in, more federal revenues were raised than at any other time in history.
Photo: President Donald J. Trump celebrates the passage of the Tax Cuts Act with Vice President Mike Pence, Senate Majority Leader Mitch McConnell, and Speaker of the House Paul Ryan | December 20, 2017 (Official White House Photo by Joyce N. Boghosian)
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Steve Moore (@StephenMoore), Heritage Foundation and author, Trumponomics, in re: Trumponomics: how we got here to these startling numbers that had been said to be impossible. What explains it? Larry Kudlow wrote a book two years ago on John F Kennedy’s policies – JFK was the first modern supply-side, tax-cutting president. Soundest way to [resuscitate] the economy is to reduce the tax rates now. Most Democrats voted for the Kennedy tax cut. Larry and Steve and Art Laffer presented this to Candidate Trump, who initially was not familiar with it but listened carefully. He always said he wanted to make sure that the bz tax rates came down, esp for the 27 million small businesses in this county. The tax cut and deregulation have been like injecting steroids. I said, “Mr President, this is working better than we thought it would.” Ultimately, we’d like to see a flat tax. Last year, even with only the first year of the tax cut kicking in, more federal revenues were raised than at any other time in history. . . . I saw a stat that food stamps, now called SNAP, have gone to their lowest numbers is a long time. . . . The tax cut is picking up steam in 2019. . . .