In the summer of 1969, America did the extraordinary. Let’s do it again.
Optimism, as defined by economist Jeffrey Sachs, is more than just a translucent, faraway wish. It means having bold goals and acting on them—even if you have no plan or existing knowledge of how you'll get there. The US was once good at this: In May 1961, President Kennedy stood before Congress and announced that the US would land a man on the moon and bring him back safely before the decade was out. In the summer of 1969, that mission was achieved. If American politicians, scientists, engineers and the public could unite for the space race, then the same is unquestionably possible for the urgent humanistic causes of poverty, inequality, and curbing global warming, which will create millions of climate refugees this century. Optimism doesn't just require vision and determination—it needs a deadline, as JFK showed. By 2030, let's mobilize our optimism to cut poverty in half in America, and make a decisive move to renewable energy.
This video is part of a collaborative series with the Hope & Optimism initiative, which supports interdisciplinary academic research into significant questions that remain under-explored. The three-year initiative will provide over $2 million for philosophers, philosophers of religion, and social scientists to generate original, high-quality, collaborative research on topics related to optimism and hopefulness. Discover the public components of the Hope & Optimism project, and how you can contribute, at hopeoptimism.com.Jeffrey Sachs is the author of Building the New American Economy: Smart, Fair, and Sustainable.
Earners keepers? According to Larry Kudlow, there's a secret history behind the US's history of tax reduction and it involves John F. Kennedy.
On December 14 in 1962, at the Waldorf Astoria Hotel in New York City, President John F. Kennedy unveiled an economic plan that would breathe new life into the stagnant US economy. His focus was on growth incentives; he proposed reducing marginal tax rates for all taxpayers, cutting the lowest earners' taxes from 20% to 14%, and the highest earners' taxes from 91% to 65%. His tax code also closed a series of loopholes and tax exceptions. These measures worked, and the U.S economy grew by roughly 5% every year, for almost eight years.
Radio broadcaster and CNBC senior contributor Larry Kudlow credits JFK as the initial force behind Reaganomics, and believes Democrats today should take heed and embrace tax cuts over tax hikes. Kudlow doesn’t believe in taxing your way to prosperity, and it’s the thread throughout his new book JFK and the Reagan Revolution: A Secret History of American Prosperity, which he’s co-authored with Brian Domitrovic. The book aims to correct the historical record, which Kudlow and Domitrovic feel omits the truth about Kennedy’s economic persuasion, which came about under advice from his Republican Treasury Douglas Dillon.
Are Kudlow and Domitrovic on the money with their thesis? Some people are strongly opposed, such as broadcaster, entrepreneur and bestselling author Thom Hartman, who says that "there's just one major, glaring problem with Kudlow's analysis: It's not true." Read here for a counterargument to Kudlow’s view.
Despite his chat with Big Think kicking off on the misguided notion that "we all start at the same beginning, the starting line is the same," hear Kudlow out and consider whether there's validity to his argument for tax cuts – does a rising tide really lift all boats? Or would its success hinge on the simultaneous closing of tax loopholes and exceptions, true to Kennedy's 1962 plan?
Kudlow and Domitrovic's book is Reagan Revolution: A Secret History of American Prosperity.