US Presidency
1964

But it easily could and it should be still $ 30 billion higher today than it is. Wages and profits and family income are also at their highest levels in history, but I would remind you that four million workers and 13 percent of our industrial capacity are still idle today. We need a tax cut now to keep this country moving. For our goal is not merely to spread the work. Our goal is to create more jobs. I believe the enactment of a 35-hour week would sharply increase costs, would invite inflation, would impair our ability to compete, and merely share instead of creating employment. But I am equally opposed to the 45 or 50-hour week in those industries where consistently excessive use of overtime causes increased unemployment. So, therefore, I recommend legislation authorizing the creation of a tripartite industry committee to determine on an industry-by-industry basis as to where a higher penalty rate for overtime would increase job openings without unduly increasing costs, and authorizing the establishment of such higher rates.