Tax increases were an integral part of Roosevelt’s New Deal, along with an expansion of political controls started by President Herbert Hoover. The actions devastated the American economy in the 1930’s.
All this central planning around open and hidden taxes is where we are headed under the Obama administration. Yet, with financial history for us to learn from, we are not acquiring any practical lesson the 1930’s Great Depression.
The Obama administration is attempting to tax the U.S. out of a recession, right into a deeper one of stagflation. One, where we suffer from a lack of decent, private-industry jobs, amidst much higher prices
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