Changes

President [[John F. Kennedy]] explained the principle behind the Laffer curve in his address to the Economic Club of New York on December 14, 1962:

President [[John F. Kennedy]] explained the principle behind the Laffer curve in his address to the Economic Club of New York on December 14, 1962:

{{cquote|In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.<ref>James L. Sundquist, ''[http://books.google.com/books?id=CeqOAdn-LEgC Politics and Policy: the Eisenhower, Kennedy, and Johnson Years]'' (Washington, DC: Brookings Institution Press, 1968) ISBN 0815782225, p. 44; video: [http://www.jfklibrary.org/Asset+Tree/Asset+Viewers/Audio+Video+Asset+Viewer.htm?guid={A138FFB8-5B6A-4C6A-A8CC-70C6E4FF39DA}&type=Audio%20%29%29 Address at the Economic Club of New York, December 14, 1962], John F. Kennedy Presidential Library and Museum</ref>}}

{{cquote|In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.<ref>James L. Sundquist, ''[https://books.google.com/books?id=CeqOAdn-LEgC Politics and Policy: the Eisenhower, Kennedy, and Johnson Years]'' (Washington, DC: Brookings Institution Press, 1968) ISBN 0815782225, p. 44; video: [http://www.jfklibrary.org/Asset+Tree/Asset+Viewers/Audio+Video+Asset+Viewer.htm?guid={A138FFB8-5B6A-4C6A-A8CC-70C6E4FF39DA}&type=Audio%20%29%29 Address at the Economic Club of New York, December 14, 1962], John F. Kennedy Presidential Library and Museum</ref>}}

==Analysis==

==Analysis==