When Paul Ryan asserted that the U.S. could achieve growth through further tax cuts, he named JFK as an example. Instead of saying “So now you’re Jack Kennedy,” Biden could have said:
“Yes, my friend, Kennedy lowered top tax rates – from 90% to 70%. He did that at a time when much of the war debt had been paid down because we had a responsible Republican in office – Eisenhower – and the Middle Class was ascending. Why were they ascending? Because World War II veterans were benefiting from the GI Bill that paid for higher education. Because factories, with no foreign competition, were humming and unions were strong. When productivity went up, so did real wages. That’s not happening now. Since the seventies, worker wages have risen a measly 5.7% while CEO pay spiked a whopping 725%.
Today our top tax rate is 35%. The rich are paying the lowest taxes in 60 years while Middle Class kids are buried in student loan debt. Mitt Romney gets a tax deduction for a dancing horse and you think we should eliminate mortgage interest deductions for middle class families. Without that deduction, many families won’t be able to afford to stay in their homes.
And since you’re bringing up the Kennedy name, Ted Kennedy was a lifelong advocate for universal healthcare, Robert Kennedy was a champion for civil rights, John was a war hero and Joe Jr. died in WWII fighting for democracy. Before you start throwing the Kennedy name around you’d better do your homework, Sonny, because you and Mitt Romney have nothing in common with anyone named Kennedy.”