MF: on JFK tax cuts “…So far as I know, there has been no empirical demonstration that the tax cut had any effect on the total flow of income in the US. There has been no demonstration that if monetary policy had been maintained unchanged…the tax cut would have been really expansionary on nominal income….”
That's just plain vanilla monetary dominance. Even if the JFK cuts were successful in incentivizing more innovation and substitution of work for leisure of high income people, I'd imagine that it would hardly show up in "total income flows."
MF: on JFK tax cuts “…So far as I know, there has been no empirical demonstration that the tax cut had any effect on the total flow of income in the US. There has been no demonstration that if monetary policy had been maintained unchanged…the tax cut would have been really expansionary on nominal income….”
https://thefaintofheart.wordpress.com/2013/11/22/conservatives-praise-kennedy/
That's just plain vanilla monetary dominance. Even if the JFK cuts were successful in incentivizing more innovation and substitution of work for leisure of high income people, I'd imagine that it would hardly show up in "total income flows."