Flashback: JFK Proposes Prosperity, End to Recession Through Tax Cuts

"The worst deficit comes from a recession. And if we can take the proper action, in the proper time, this can be the most important step we could take to prevent another recession. That is the right kind of a tax cut, both for your family budget and the national budget, resulting from a permanent basic reform and reduction in our rate structure. A creative tax cut creating more jobs and income and eventually more revenue. And the right time for that kind of bill, it now appears, in the absence of an economic crisis today -- and if the job is to be done in a responsible way -- is January 1963."