Fmr. President George H.W. Bush (a.k.a. “41”) was honored with the John F. Kennedy Profile In Courage award yesterday for raising taxes as part of the 1990 budget deal. Why they decided to honor him nearly 24 years after the fact is a mystery to me.
What is truly ironic, however, is that one of JFK’s greatest successes in his short presidency was his tax cuts for businesses (1962) and for individuals (1964 shortly after his assassination.) Kennedy’s tax cuts resulted in federal tax receipts increasing by 55% in real terms in the seven years after he came to office in 1961.
A real profile in courage would have been had President Bush stood his ground and forced Congress to get spending under control in order to lower the deficit, not raising their credit card spending limit.