Tax increases were an integral part of Roosevelt’s New Deal, along with an extended expansion of political controls and taxes started by President Herbert Hoover. Their combined actions devastated the American economy in the 1930’s.
All this central planning around open and hidden taxes is where we are headed today under the present Obama administration. Yet, with all that financial history out front for us to see, we are not learning from the practical lesson the 1930’s Great Depression ought to have taught us.
The Obama administration is attempting to tax the U.S. out of a recession, right into a deeper one, and possibly, stagflation. One suffering from a lack of decent, private-industry jobs, and higher prices.
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