Existing comment:
“Reminds Me of That Crazy Idea of Henry Ford’s That You Can Make More Selling at Lower Prices”
Herblock criticized the conservative reaction to President John F. Kennedy’s 1963 State of the Union message by pointing out that if rich men couldn’t see how successful Henry Ford had been by selling more cars at lower prices, then they couldn’t be expected to understand Kennedy’s economic stimulus idea either. Kennedy believed that cutting the income tax rate from a 20–90 percent to the 14–65 percent range would stimulate the stagnant economy. Republicans urged the president instead to reduce spending. They pointed to the failure of foreign aid to compel communist countries toward democracy and argued that domestic spending only increased the number of people enrolled in welfare.
“Reminds Me of That Crazy Idea of Henry Ford’s That You Can Make More Selling at Lower Prices,” 1963. Published in the Washington Post, January 20, 1963. |