Coolidge and Treasury Secretary Andrew Mellon advocated “scientific taxation,” an early iteration of the supply-side economics theory that often lowering rates will stimulate the economy so that the government’s revenue loss will be much less than the taxpayers’ gain. Soon Coolidge was alarmed that economic growth was producing excessive revenue that might make government larger.
In 1924, after the lingering illness and death of his 16-year-old son from blood poisoning, Coolidge demonstrated — if only our confessional culture could comprehend this — the eloquence of reticence: “When he was suffering he begged me to help him. I could not.”
I had no idea that there actually had been a reasonable President in the 20th century. Was Joseph Ivy modeled after CC? No; I had no idea. But had I known, then the answer would almost certainly be yes.