Click here to read Linda McMahon’s letter to Edward Kennedy Jr.
McMahon defends her campaign’s decision to use Kennedy’s 1963 speech advocating for tax cuts to spur economic growth.
In the letter McMahon disagrees with Kennedy Jr. that the economy isn’t that different than it was in 1963.
“As you cite, the 91 percent tax bracket was in place for the top bracket in 1963. However, it must be noted that the top bracket was for those making $300,000. Your uncle, President John F. Kennedy, decided a tax cut was in order so his policies reduced the top marginal rate to 77 percent for those making $200,000 or more. What you neglected to mention was that according to the Bureau of Labor Statistics, that equals $1.4 million in today’s dollars. So in short, your uncle supported tax cuts for those making nearly six times more than what today’s Democratic Party, as well as your letter, labels as ‘the wealthy,’” McMahon wrote.
Click here to read our previous report on Kennedy’s request to remove the ad.
