Wisconsin native.
"The true soldier fights not because he hates what is in front of him, but because he loves what is behind him."--GKC
"Liberalism is the modern and morbid habit of always sacrificing the normal to the abnormal" --G K Chesterton
"The only objective of Liberty is Life" --G K Chesterton
"A man can never have too much red wine, too many books, or too much ammunition." -- Rudyard Kipling
Friday, July 03, 2009
"Spend More Money"? It Doesn't WORK!!
Ummmnnnhhhhh.....for the history-disabled among you, those were HOOVER'S budgets which cranked up the Federal Spending Machine, not FDR's.
And by gosh, by golly--it didn't work (can you read this, Struppster?)
...and Vox's point would make sense had Hoover's increase in government spending existed in a vacuum. I believe we are leaving out an important piece of the puzzle here, namely, monetary policy under Hoover as well as protectionist legislation i.e. Smoot-Hawley.
Oh and I believe I rememeber something about huge tax increases enacted during that time frame as well.
What tax increases? You mean tax increases have negative stimulus? You better call Obama quickly. He doesn't seem to understand that. You just might be able to save his entire legacy with that single gem!
Tax increases are "negative stimulus", but much less so than cutting gov. spending in times such as these.
Unless, of course, you raise taxes the way Hoover did in the early 1930's. I believe Obama wants to raise the top income level tax rate something like 3%?
...and Vox's point would make sense had Hoover's increase in government spending existed in a vacuum. I believe we are leaving out an important piece of the puzzle here, namely, monetary policy under Hoover as well as protectionist legislation i.e. Smoot-Hawley.
ReplyDeleteOh and I believe I rememeber something about huge tax increases enacted during that time frame as well.
What tax increases? You mean tax increases have negative stimulus? You better call Obama quickly. He doesn't seem to understand that. You just might be able to save his entire legacy with that single gem!
ReplyDeleteTax increases are "negative stimulus", but much less so than cutting gov. spending in times such as these.
ReplyDeleteUnless, of course, you raise taxes the way Hoover did in the early 1930's. I believe Obama wants to raise the top income level tax rate something like 3%?
Yeah so what? Hoover more than doubled it.