What do JFK and Donald Trump have in common? They both believed that tax cuts power economic growth... JFK was right... and so is Donald Trump. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.
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| I'm Ben Ferguson, and I'm Ted Cruz. | |
| Three times a week we do our podcast, Verdict with Ted Cruz. | |
| Nationwide, we have millions of listeners. | |
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| The worst deficit comes from a recession. | |
| And if we can take the proper action in the proper time, this can be the most important step we could take to prevent another recession. | |
| That is the right kind of a tax cut, both for your family budget and the national budget. | |
| Resulting from a permanent basic reform and reduction in our rate structure. | |
| A creative tax cut, creating more jobs and income, and eventually more revenue. | |
| And the right time for that kind of bill it now appears, in the absence of an economic crisis today, and if the job is to be done in a responsible way, is January 1963. | |
| Such a bill will be presented to the Congress for action next year. | |
| It will include and across the board, top-to-bottom cut in both corporate and personal income taxes. | |
| It will include long-needed tax reforms that logic and equity demand. | |
| And it will date that cut in taxes to take effect as of the start of next year, January 1963. | |
| The billions of dollars this bill will place in the hands of the consumer and our businessman will have both immediate and permanent benefits to our economy. | |
| Every dollar released from taxation that is spent or invested will help create a new job and a new salary. | |
| And these new jobs and new salaries can create other jobs and other salaries. | |
| And more customers and more growth for an expanding American economy. | |
| Instead of being permanently saddled with excess planned capacity and the budgetary deficit that is created by this means. | |
| And full employment and the budgetary surpluses that that kind of employment and capacity can produce. | |
| Fifty-five years ago this week, President John F. Kennedy, a Democrat, launched a historic effort to pass sweeping top-to-bottom tax cuts. | |
| A half a century later, we're reminded that lowering taxes is neither a Republican or Democrat idea, but an American principle and an American idea. | |
| The goal of my administration is for every American to know the dignity of work, the pride of a paycheck, and the satisfaction of a job well done. | |
| We want people to love waking up in the morning and going to work just with that incredible enthusiasm that we have in this country. | |
| And that's what we're going to be doing, and that's what's going to be happening. | |
| Today we stand on the verge of a new economic miracle. | |
| Our economy has already surged to 3% growth, far ahead of schedule, by the way, far, far ahead. | |
| In each of the last two quarters. | |
| And if we didn't have the hurricanes, we could have hit four last quarter. | |
| Four. | |
| A number that was unthinkable two years ago when I started the campaign. | |
| And even my first month in office. | |
| That was an unthinkable number. | |
| And I'll tell you what, it's going to go higher than that. | |
| We've created 2.2 million jobs since the election. | |
| Unemployment is at a 17-year low. | |
| The unemployment rate in the manufacturing business is the lowest in recorded history. | |
| Consumer confidence is a 17-point high. | |
| Pensions and retirement accounts are soaring as the stock market hits 85 new record highs since the election. | |
| How are we doing? | |
| Are we doing okay? | |
| Not bad, right? | |
| All right, that was the president. | |
| Before that, isn't it interesting? | |
| The two greatest growth periods in the modern era. | |
| Not sure if you really want to call the 60s the modern era. | |
| That would mean I'm modern. | |
| Um, uh, is JFK, his cutting of the top marginal rates. | |
| Reagan dropped the marginal rates throughout his presidency from 70 to 28 percent. | |
| Yeah, that's when we saw 21 million new jobs created. | |
| That's when revenue to the government doubled, and we even saw GDP growth as high as 7.4%. | |
| An amazing track record of success. | |
| And you think in the last eight years under Obama, and you've got 13 million more Americans on food stamps and eight million more in poverty, and every economic indicator since Donald Trump has become president since he was elected, has been absolutely phenomenally amazing. | |
| You want smart political talk without the meltdowns? | |
| We got you. | |
| And I'm Mary Catherine Hamm. | |
| We've been around the block in media, and we're doing things differently. | |
| Normally is about real conversations, thoughtful, try to be funny, grounded, and no panic. | |
| We'll keep you informed and entertained without ruining your day. | |
| Join us every Tuesday and Thursday. | |
| Normally on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. | |
| I'm Ben Ferguson. | |
| And I'm Ted Cruz. | |
| Three times a week we do our podcast, Verdict with Ted Cruz. | |
| Nationwide, we have millions of listeners. | |
| Every Monday, Wednesday, and Friday, we break down the news and bring you behind the scenes inside the White House, inside the Senate, inside the United States Supreme Court. | |
| And we cover the stories that you're not getting anywhere else. | |
| We arm you with the facts to be able to know and advocate for the truth with your friends and family. | |
| So Dow, verdict with Ted Cruz now, wherever you get your podcasts. |