These are exactly the proposals that were applauded across this land in 1962 when first proposed by then President John F. Kennedy. They worked in 1962. The only thing that was different is by 1962, we had never enacted anything in our Tax Code that was as inane as the alternative minimum tax. So if we want to look at it this way, we can say this is trying to get us where Kennedy got us to in 1962, and I have to say, looking at some of the leaders in the other body, I do not understand what their beef was that they were applauding in 1962.
Richard K. Armey: “These are exactly the proposals that were applauded across this land in 1962 when first proposed by then President John…”
Editor's note · Context
Discussing tax proposals and their historical context during a floor speech.
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