A Quote by Amity Shlaes

In a way, Calvin Coolidge is better than Reagan. His tax rates were lower, and he cut budgets.

Amity Shlaes

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Better Budgets Cut His Lower Rates Reagan Tax Tax Rate Tax Rates Than Way Were

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Amity Shlaes
American - Author
Born: September 10, 1960

Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.

Mike Pence

Coolidge cut the budget, and even better, cut it during peace and prosperity. He left a federal budget lower than the one that greeted him when he arrived in office. He managed to freeze or cut the budget over more than five years in office. If you look at charts of presidents - Nixon, Ike, and Reagan - you see them failing on this score.

Amity Shlaes

Coolidge thought budgets were virtuous. He had his econ straight. He didn't just cut taxes, he also cut the budget.

Amity Shlaes

Coolidge was a pragmatist. He didn't start out with a tax theory. But he observed over time that lower tax rates sometimes brought in extra revenue. The success of his and Treasury Secretary Andrew Mellon's experiment with rate cuts has been obscured by our modern history books.

Amity Shlaes

The most remarkable thing about Calvin Coolidge is that he served for 67 months, and when he left office, the budget was lower than he came in. In real terms - in nominal terms with vanilla on top - he cut the budget year over year.

Amity Shlaes

We need to consider a financial transactions tax. And we need to ask whether the top marginal tax rates are really appropriate, given that the effective tax rates paid by the wealthy are often actually lower than those paid by the rest of us.

Pete Buttigieg

If Coolidge were a stock, he'd be a buy. The experts have historically ranked Coolidge in the bottom quartile or bottom half of all presidents. But his economic performance and his statesmanship suggest Coolidge belongs in the top quarter of presidents. The disparity between the Coolidge price and Coolidge value is huge. So revision is warranted.

Amity Shlaes

Corporate tax reform is nice in theory but tough in practice. It most likely requires lower tax rates and the closing of loopholes, which many companies are sure to fight. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating a sad race to zero.

Andrew Ross Sorkin

You are smart people. You know that the tax cuts have not fueled record revenues. You know what it takes to establish causality. You know that the first order effect of cutting taxes is to lower tax revenues. We all agree that the ultimate reduction in tax revenues can be less than this first order effect, because lower tax rates encourage greater economic activity and thus expand the tax base. No thoughtful person believes that this possible offset more than compensated for the first effect for these tax cuts. Not a single one.

Andrew Samwick

I like Ronald Reagan, who didn't play crass politics, and he just articulated and delivered on broad themes that were needed. Free markets meant free markets. Deregulation. Lower tax rates. Strong national defense. And he was credible and believable.

Dave Brat

In the 1980s, Democrats enthusiastically helped President Reagan pass his tax reforms, which made the tax system fairer and more efficient in addition to reducing rates.

Kayleigh McEnany

The best way to get more tax from the rich is to cut rates. The best way to deliver more jobs for the less well off is to cut tax.

John Redwood

High tax rates that people don't actually pay do not bring the government as much revenue as lower tax rates that they do pay.

Thomas Sowell

We cut tax exemptions in 1986, it was the most admired tax reform in U.S. history. Congress and the president worked together then to eliminate scores of loopholes and exemptions and deductions; this made taxes much simpler, and allowed a major cut in tax rates.

T.R. Reid

Budget deficits are not caused by wild-eyed spenders, but by slow economic growth and periodic recessions. And any new recession would break all deficit records. 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.

John F. Kennedy

It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.

John F. Kennedy

A Quote by Amity Shlaes

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