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We forget how often President's used to hold news conferences. During the JFK years is was almost every week. This Press Conference, from June 7, 1962 covers a wide range of topics. The budget, the recession, inflation, taxes and of course Medicare, which was foremost on JFK's agenda in 1962.

He opens the Press Conference with a statement:

President Kennedy: "Good afternoon. I have a brief preliminary statement. I would like to say a few words about our economic outlook and program.
I think most financial experts have realized for some time that an overpriced market could not hold up once investors recognized that inflation was ending. Price-earning ratios which averaged on Dow-Jones 23 to 1 could not be justified unless there was heavy inflation in prospect. And we have been working to prevent inflation, which gives a very misleading and spurious picture of economic health. We must not permit the effects of this adjustment, however, to hamper the growth rate of our economy, with which we have, as you know, not been fully satisfied. While our recovery from last year's recession has been a good one, production, profits, and employment are at alltime highs, and the prospects for continued economic expansion remain favorable. In view of corporate and consumer cash on hand, we should take every appropriate step to make certain that recovery is stronger and longer than before and is not cut short by a new recession.

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In 1954 the deadline for filing your taxes was March 15th, not April 15th. The April deadline wouldn't come into effect until 1955. But even in 1954, President Eisenhower was alarmed that people of a certain massive income got away without "paying their fair share".

In this radio address, Eisenhower takes to task those who make a substantial amount of income, yet pay no tax on it, instead leaving the Middle-Class and those people who can ill-afford it the most to bear the burden.

It's interesting when you realize you're listening to a Republican President reciting the benefits of a fair tax system and the reason taxes exist was to accomplish what the private sector couldn't.

And almost sixty years later the conversation has shifted. And, judging by all I've heard, Dwight Eisenhower would be considered something of a Socialist Radical in today's climate.

Funny how things change.

Here is the complete radio address by President Eisenhower, broadcast on Tax Day (March 15th), 1954.



Newstalgia Reference Room - Per Jacobsson And The IMF In 1962

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A lot has been attributed over the years to Per Jacobsson, who was Chairman and operating Manager of the International Monetary Fund from 1956 until his death in 1963. But it goes back even further to his days with The League Of Nations and the financial reconstruction of those countries devastated by the affects of World War 1.

Here he is, in a panel discussion from Meet The Press on July 7, 1962 where he is asked to assess the then-current economic situation in the U.S. and the subject of tax cuts:

Per Jacobsson: “You say there is growing agreement in this country on a tax cut, but when I read the newspapers this morning I found a number of people said that we’re at the wrong time, and not needed now. So I think still it is a very open question. The question of tax cut has very much to do with the two problems. One, whether one has to expect a setback in business and I do not believe there will be a setback in the coming months. I think the improvement will continue, not at the high rate that had been expected, but still at the steady rate. Secondly, some people believe that there has to be a tax cut because they want a higher deficit in the budget, which of course is quite another question that there will be, as we know, a deficit, a fair amount already under present provisions. So that some people think this deficit is large enough to give the impetus to business that is needed in this situation.”

I suspect not many people have actually heard him, let alone heard of him. He was an influential figure in the world economy for many decades and a little history now and then can do a lot of good. Particularly in relation to current situations.



January 6, 1983 - "No New . . . .Never mind".

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The perfect day to stay in bed, this January 6th in 1983. And if you weren't comfortably snoring or sleeping it off you would probably have been knee deep in these tidbits of anxiety provoking news:

Pres. Reagan hinted there may be some new tax on the course ahead. Ironically, the new gasoline tax went into effect on this day, as did relaxation of regulations on trucking. President Reagan also promised substantial budget cuts while carefully avoiding the hot-button topic of Social Security.

Meanwhile, the nuclear powered Soviet Spy Satellite Cosmos 1402 was rumored to be out of orbit, spinning out of control and falling back to earth almost any day now. Moscow denied the rumors but kept a wary gaze skyward just in case.

Speaking of wary gazes, the Warsaw Pact proposed to NATO an agreement to renounce the use of military force and to outlaw or limit use of a vast array of weaponry including the infamous Neutron Bomb as well as deadly chemicals. NATO may or may not have stifled a chuckle.

Talks aimed at Israeli withdrawal from Lebanon entered Round 4, with the word stalemate stenciled on everyone's minds.

French authorities seized and boarded the ship Greenpeace as it entered Cherbourg harbor.

And a woman in Oregon succumbed to Cyanide poisoning thought to be delivered by an Anacin-3 capsule. In lieu of widespread panic, further tests were ordered to determine if the woman had committed suicide or if the capsules were in fact tampered with.

Collective breaths on this day were held, pending conclusion of all the above.

Just one of those days via Reid Collins and The CBS World News Roundup for January 6, 1983.



August 1, 1981 - Dark Clouds Over The Friendly Skies.

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On the one hand, this day was like most other August days. Congress held a 17 hour session and finally passed Tax legislation which included a huge tax reduction in oil profits helped with the participation of defecting Southern Democrats (we call them Blue Dogs now). And on the other hand, we were about to witness the first grand scale Union Busting in the form of PATCO and the now-famous Air-Traffic Controllers Strike. On this particular August 1st it was a Saturday, and all members were slated to hit the picket lines come Monday morning, unless some 11th hour negotiation proved successful.

In other news, the ongoing Hunger Strike of IRA members in Belfast's Maze Prison was taking an ominous toll, with one death reported and several other hunger strikers perilously close. Pope John Paul II, still recovering from wounds associated with his assassination attempt, had cleared another hurdle by successfully beating back a viral infection as the result of surgery.

Just another August 1st in history. Remarkably the same while strangely different.

August 1, 1981 as told by the CBS World News Roundup with Neil Strawser.



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As all eyes and ears are on the state of the government and the current debit crisis, perhaps a little distraction in the form of Tax collection circa 1962 might be a good idea (or not).

Mortimer Caplin was director of Internal Revenue under the JFK Administration and was given the somewhat onerous task of revamping what had become (even in 1962) an archaic and largely loophole-ridden institution.

Caplin was the one who introduced Computer technology (however Neanderthal at the time) to the IRS and tried to get some uniformity to the tax code.

See . .it's not just 2011 - it's forever.

Here is Meet The Press from April 1, 1962 featuring Lawrence Spivak and the usual suspects interviewing Mortimer M. Caplin on the state of our Internal Revenue.



July 26, 1981 - "The Voodoo You Do So Well".

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Ironically, on this day in 1981 President Reagan took to the airwaves for the fifth time since the beginning of the year to talk about the Budget. Yes, the Budget - even then. Thirty years ago to the day it was about cutting spending, getting it all under control, allaying fears over cuts to Social Security. Slashing government programs. Dismantling institutions. belt tightening. All the mantras.

But even then, there was a certain ironic hat tip to FDR.

President Reagan: “We must also insure that taxes due the government are collected. And that a fair share of the burden is borne by all.”

Sounded good. But the platitudes and the practice were two different things. Giving the burden over to local governments. Removing regulations. Wishful thinking Business and Wall Street would open their checkbooks and take care of everything. All that "trickle down".

Yes, this day thirty years ago it was all about Washington and all about the Government and all about money.

I'm sure you all have many choice observations to make.

Have a listen and have at it.



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In keeping with our current preoccupation with taxes, the deficit and spending, I thought I would run an address President Franklin Roosevelt gave while campaigning for re-election in 1936.

Seems the subject of taxes has been with us for a very-very long time. And it also seems the ones doing the most complaining haven't changed very much in the past 200 or so years.

Comforting, I suppose. But you'd think by now it would get a little tired.

In 1936 though, FDR had a few choice words nestled in what has become a timeless address.

President Roosevelt: “In 1776 the fight was for Democracy in Taxation. In 1936 there is still the fight. Mister Justice Oliver Wendell Holmes once said ‘taxes are the prices we pay for civilized society’. One sure way to determine the social conscience of a government is to examine the way taxes are collected and how they are spent. And one sure way to determine the social conscience of an individual is to get his tax reaction. Taxes, after all are the dues we pay for the privilege of membership in an organized society. And as society becomes more civilized government, national and state and local, is called on to assume more obligations to its citizens. The privileges of membership in a civilized society are vastly increased in modern times. But I am afraid we still have many who still do not recognize their advantages and want to avoid paying their dues.”

Tax breaks for the wealthy were a concept well in place by the time Hoover was President.

FDR: “To divide fairly among the people the obligation to pay for these benefits has been a major part of our struggle to maintain Democracy in America. Ever since 1776, that struggle has been between two forces; on the one hand there has been a vast majority of citizens who believe the benefits of democracy should be extended and who are willing to pay their fair share to extend them. And on the other hand, there has been a small but powerful group which has fought the extension of these benefits because they did not want to pay a fair share of their cost. That was the lineup in seventeen hundred and seventy-six and it’s the lineup today. And I am confident that once more, in nineteen thirty-six democracy in taxation will win. Here is my principle, and I think it’s yours too; Taxes shall be levied according to ability to pay. That is the only American principle.

So hearing this now and knowing it was from the dim-distant past of 1936, it makes the current situation and posturing that much more absurd. Unfortunately if it were only absurd it would be laughed off. But it has become deadly serious business in the ensuing years.

And I keep reminding myself that Fair is a place in Pomona California where people get together once a year and show cows.



June 1, 1981 - Naked If I Want To.

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First day of June in 1981 and the Haywire Season is in full swing. President Reagan invites Democrats in Congress to a sit-down and lip-service for his new tax-cut proposal, the message being "my way or the highway", but making it look good for the cameras. In the rest of the world - fighting spirals out of control in Beirut. Naim Khadar, the PLO Representative in Belgium is gunned down in Brussels. Bangladesh crushes a coup and South Africa celebrates 20 years as a White-ruled Republic at a cost of $90 million and more troops on the streets of Durbin than onlookers.

Meanwhile, back in the States - The Teamsters gather for the 22nd National Convention opening in Las Vegas and The UMW scrambles for votes of approval in the wake of a new contract proposal for Coal Miners. Former Congressman Carl Vincent passes away at the age of 97. Pianist Andre-Michel Schub wins the 6th Annual Van Cliburn Piano Competition in Texas and The Supreme Court rules people have a Constitutional Right to dance nude in public.

And now you know.

But don't take my word for it, it says so on the CBS World News Roundup and Hourly News reports from June 1, 1981.



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On this day, thirty years ago President Reagan addressed a joint session of Congress and appeared for the first time since the assassination attempt some weeks earlier.

This address, outlining his proposal for the economy didn't leave many doubts as to who was going to win and who was going to lose.

Pres. Reagan: “The economic recovery package that I’ve outlined to you over the past few weeks is, I deeply believe, the only answer that we have left. Reducing the growth of spending, cutting marginal tax rates, providing relief from over regulation and following a non-inflationary and predictable monetary policy, are interwoven measures which will insure that we have addressed each of the severe dislocations which threaten our economic future. These policies will make our economy stronger. And the stronger economy will balance the budget which we’re committed to do by 1984.”

Which never happened. Oh, the hindsight. It's also ironic that twenty years ago President Clinton said we'd have the National Debt paid off in ten years.

Meanwhile, have you noticed gas is inching its way up to $5.00 a gallon?

And for some reason, some insane smokescreen of a reason, we're still hearing about birth certificates.

Here is the Reagan address, as broadcast by NPR (the network the Republicans de-funded) on April 28, 1981.

And, if that weren't enough - there were other things going on in the world on that particular day and you can hear all about them here:

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