Huffington Post Shocker: LBJ's 'Critical Tax Cut' Ushered in 'Era of High Growth'
The left and their media minions routinely claim that tax cuts don't help the economy.
Yet on Sunday, Huffington Post Washington bureau chief Ryan Grim and the Post's political editor as well as White House correspondent Sam Stein - avowed liberals both - shockingly let the cat out of the bag in piece called "Barack Obama Promised A New Kind Of Politics, But Played The Same Old Game" (emphasis added):
In the days following the assassination of John F. Kennedy in 1963, Lyndon B. Johnson was left to pursue his predecessor’s unfinished legislative agenda. White House insiders considered the task nearly impossible...A critical tax cut, meanwhile, was bogged down in the Senate, where the Finance Committee chairman was holding it hostage.
Yes, these two avowed liberals actually wrote the words "critical tax cut." Tough to believe, isn't it?
But there was more:
Rather than negotiate with Congress, Johnson turned the goodwill of the nation into a force with which to bludgeon the GOP and expand what was politically possible. He took his case to the American people, reminding them that the GOP was the “Party of Lincoln,” and flooded Washington with religious leaders who lobbied Congress.
The result was a tax cut that is largely credited with ushering in an era of high growth.
I guess tax cuts are only good when a Democrat is president.