Quote:
Originally Posted by ZenGum
FDR's recession?
Stock market crashed in 1929.
Hoover and the repubs resisted all calls for intervention and it developed into the worst economic downturn in modern history.
FDR elected 1932. Started trying to intervene.
As you say, success was limited until the pre-war rush. Which was all put on debt. And then paid off by taxing high income earners.
|
We had VERY high taxes, throughout the 1950's, but the gov't also cut it's spending MAGNIFICENTLY, when WWII, was over. You can tax the rich until they're all bankrupt, but it wouldn't pay for the excesses, and wasteful spending we have today.
@Richlevy - you know who pays all those gov't workers their wages and benefits, don't you? Still feel all warm and cozy about 55,000 more new federal gov't employees?
I'd love to tell you that the recovery with Romney, will start on Day 1 of his term in office, but the federal gov't is a BIG bureaucratic nightmare. If you see an organizational chart of just who reports to Dept. of Homeland Security, it's enough to make you dizzy. It will take time.