The Biz Bucks Blog provides former Biz Bucks students and other busy professionals with a summary and commentary of seminal articles from the opinion pages of the Wall Street Journal. You can be notified of a new posting by subscribing to the blog (enter email in box on right) or by following on Twitter: @BizBucksGuy.
JFK: A Conservative? November 19, 2013 8:59 AM | Tagged as JFK, Kennedy, Keynesian
WSJ 11/18/2013, Page A16, “Exposing the Myth of JFK Politics” By J. Gordon Crovitz
Unlike his younger brother, Ted, President John Fitzgerald Kennedy who was assassinated fifty years ago this week, was actually a conservative by today’s standards. Mr. Crovitz summarizes Ira Stoll’s new book, JFK, Conservative.
Here’s some interesting facts from Stoll:
1. JFK ran in 1960 against Nixon. Who was extolling the virtues of limited government? JFK, not Nixon.
2. JFK’s famous statement, “Ask not what your country can do for you, ask what you can do for your country” was seen my liberals as a slap at the welfare state.
3. In 1962, JFK’s top legislative goal was tariff reductions for wider foreign trade. Something that bothers many a liberal and union boss.
4. JFK extolled the virtues of tax cuts to grow the economy. “A rising tide lifts all boats!”, he said. John Kenneth Galbraith, the leading Keynesian economist of the time, was told by JFK to “shut up about [his, Galbraith’s] opposition to tax cuts.”
5. The tax cuts were passed after his death and led to a long stretch of economic expansion and improvement in well-being for the US.
6. Kennedy was hard line against the Soviets. Reagan’s famous, “Tear Down This Wall” speech quoted JFK.
Stoll argues that the two leading biographies of JFK were written by liberals and this created the myth of JFK being a liberal himself. Sorensen and Schlesinger, both White House advisors at the time and both ardent liberals, helped create the current mythology of this president.
Posted in MacroEconomics, Tax Policy, Trade | 0 Replies
To receive email updates when a new post is made, please enter your email address in the box below and click Subscribe.
Use these key words to search past blogs:
1994 97% Alesina Recession Alinsky Allesina austerity Baloney BAT Binz bird kills Bogle Border Adjustment Tax Brulle Bryce capitalism carbon Carbon Dioxide CBO CFTC chains China Churchill Climate Climate Change Clinton Comparative Advantage Crichton Cronyism Cummins Curry Darwin Death panel demographics population economics Denier derivatives Dodd-Frank Drug dynamic Dynamic Scoring education electric car Energy Energy Policy Enron Debt Entitlements Eugenics Fat Fry Flat Earthers fracking free markets free trade Free Trade E-Verify Free Trade Zoellick Freedom Heritage Foundation Friedman gas lines Gas Prices glaciers Global Warming Global Warming Sustainability global warming subsidies IMF Globalization Trade God Google Gore Gramm Green Blob Grifo Groupthink Growth Hannity Hayek Hostess Hybrid Immigration Imports index funds Indexing Intellectual Denial investing investment IPCC JFK Joint Tax Kennedy Kerry Keynes Keynesian Keynesian Tax Cuts King Barak Bird Kills Koch Koonin Laffer Lamar Smith Lomborg macroeconomics macroeconomics;static; dynamic MACT Makiel markets Marxist medical care minimum wage Mitchell Model T Moore Morgenthau Navarro Neumark NOAA NY Times Obamacare ObamaCare Rove Health Insurance O'Reilly participation rate Patrick Moore peer review Peer Review EPA Piketty Pipelines plywood Presidential authority Price Controls Pruitt Racial divide Rare Earth Reagan Recession REE Renewable Portfolio Standards Renewables Ricardo Ridley robotics RPS Ryan Schlaff Science science integrity scoring Settled Science Shaffer shortages socialism socialized medicine Solar Panels Solvaldi Sovaldi static steel STEM Stephens Steyer stimulus subsidy sugar Supreme Creator tax policy Taylor territorial taxes corporate taxes Tesla Trade train wreck Trump unemployment wages Wind wind power women Zuckerman