The Great Jobs Killer

[doom&gloom]

Re: The Great Jobs Killer

I guess this is just more Republican clap-trap as well...

BOTH parties have thier biases and foils and foibles. As a fiscal conservative and socially moderate to liberal person, I have generally support the right for their lack of attack on job creation and their tax policies. that said, they gave us Bush, who was a huge mistake. Right now, I don;t see anything positive coming from Obama, all I see is negative from a fiscal viewpoint. FDR raised taxes going into the Depression, one would think Obama would have learned not to do that. Uncertainty in business was very high in the Depression, you would think Obama would have learned about that. Right now the only true winners are the banksters, unions and the kleptocrats. the people have been left in the cold, and will be penalized by this administration further next year. Now you can call all this "ranting" but history supports the same mistakes being made over again.

[we_are_toast]

Re: The Great Jobs Killer

FDR raised taxes going into the Depression, one would think Obama would have learned not to do that. Uncertainty in business was very high in the Depression, you would think Obama would have learned about that. ...

Now you can call all this "ranting" but history supports the same mistakes being made over again.

Sorry, but you need to reread your history. Your implication that tax increases by FDR made the depression much worse, simply isn't true.

By the time FDR took office in March 1933;
the stock market was down 80%
GDP was down more than 20%
Unemployment was at 23%
40% of all banks had failed.

And it was Herbert Hoover who raised the top tax bracket from 25% to 63% in 1932. It was already too late.

[BuckarooBanzai]

Re: The Great Jobs Killer

Sorry, but you need to reread your history. Your implication that tax increases by FDR made the depression much worse, simply isn't true.

By the time FDR took office in March 1933;
the stock market was down 80%
GDP was down more than 20%
Unemployment was at 23%
40% of all banks had failed.

And it was Herbert Hoover who raised the top tax bracket from 25% to 63% in 1932. It was already too late.

Don't kid yourself-- FDR was a disaster for the US economy in the 30's in every single respect save one: he did prevent mass social disorder. That's a pretty low bar, frankly. Read Murray Rothbard's book on the Great Depression.

Hoover wasn't any better. Perversely in fact, FDR positioned himself as a fiscal conservative, opposing the crazy spendthrift ways of Hoover! Of course when FDR got into office, FDR simply did exactly what Hoover was doing, just more of it.