"It is a paradoxical truth that tax rates are too high today and
tax revenues are too low and the soundest way to raise revenues
in the long run is to cut rates now. The experience of a number
of European countries has borne this out. This country's own
experience with tax reduction has borne this out. The reason
is that only full employment can balance the budget and tax
reduction can pave the way to full employment. The purpose of
cutting taxes is not to incur a budget deficit, but to achieve
the more prosperous, expanding economy which will bring a budget
surplus." --John F. Kennedy, December 1962