Our co-founder, Dr. Arthur Laffer, reminds us that not so long ago it was the Democrats who spearheaded income-tax-rate reductions. In fact, an important anniversary is upon us.

On June 7, 1962, President John F. Kennedy proposed an “across the board”–his words–reduction in tax rates. Back then, the top income tax rate was a foolishly confiscatory 91 percent. Many Republicans, including Barry Goldwater, opposed the JFK tax cut.

As JFK  said in ’62, “Our tax structure as presently weighted exerts too heavy a drain on a prospering economy.” Lest anyone miss his point, he added, “the heavy tax structure we have” had been the cause of recent recessions.

Here’s a good video by our friends at Job Creators Network celebrating those tax cuts that unleashed the late 1960s economic boom.