The economy was a disaster under Hoover and FDR, it remained a disaster for 10 long years because FDR tried socialist economic fixes, the same things that Obama is doing. Unemployment was 16.3% in 1931 and still 17.2% in 1939. It only got much better with WW2 when America was forced into investing in factories and wartime provided jobs. War is not the desirable answer but the lesson is that encouraging investment in production rather than phony government make-work jobs is the answer.
So, tax RATE cuts on corporate, capital gains, dividends and top end income are what will stimulate the economy.
Things were also worse under Carter than now, not because he was a socialist like FDR but because he was incompetent in every aspect of his presidency. They only got better when Reagan did just the opposite of what Obama is doing; that is, tax rate cuts.
Japan in the 1990s was in a decadelong recession and still hasn't fully recovered because they tried for ten years to government spend their way out of a recession. It didn't work.
Evidently, these lessons are too complicated for Obama and his administration.
FDR was a "spread-the-wealth-around" kind of guy; BO is following FDR's examples such as FDR's government created make-work jobs, government support of unionization, government regulation of many industries, inhibiting free-trade, The result for the FDR years prior to WW2: a median unemployment of over 17% for all of FDR's years up to WW2, because all of this socialism, being "fair", did nothing to stimulate entrepenuership, investment in industry, real job growth.
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