A Profile in Courage

This month marks 50 years since John F Kennedy’s election and the 47th anniversary of his assassination. In the 1960 debate with Richard Nixon, Kennedy stated he did not believe in bigger government, but instead wanted individuals, the states and federal government to meet their responsibilities so that all Americans might achieve their potential and get America moving again. He was not satisfied that America was not living up to its’ potential in industrial capacity, in creating jobs, in academics and expanding opportunities for all Americans.

He challenged a generation to “Ask not what your country can do for you, but rather ask what you can do for your country”.

In his first State of the Union Address, facing a recession after years of diminished economic growth, high unemployment, bankruptcies and low wages he said, “the present state of our economy is disturbing” but “we do have no greater asset than the willingness of a free and determined people, through its elected officials, to face all problems frankly and meet all dangers free from panic or fear.

In 1963, Kennedy proposed an across the board, top to bottom tax cut in corporate and personal income tax stating, “In today’s economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarges the federal deficit – why reducing taxes is the best way open to us to increase revenues.” “It is no contradiction – the most important single thing we can do to stimulate investment in today’s economy is to raise consumption by a major reduction of individual income tax rates.”

“A tax cut means higher family income and higher business profits and a balanced federal budget. Every taxpayer and his family will have more money left over after taxes for a new car, a new home, new conveniences, education and investment. Every businessman can keep a higher percentage of his profits in his cash register or put it to work expanding or improving his business, and as the national income grows, the federal government will ultimately end up with more revenues.”

On June 4, 1963, Kennedy knowing the Federal Reserve System was a bad deal for America, signed Executive Order 11110 issuing 4.5 billion dollars in Silver Certificates and United States Notes. This debt free money would replace Federal Reserve Notes and not require paying interest on our currency to the private banks making up the Federal Reserve. Shortly after his assassination, most of these notes were removed from circulation. Why is there is no mention of this significant act in biographies or profiles of this courageous leader?