Increased taxes were a major part of Franklin D. Roosevelt’s New Deal, during the 1930’s, along with an expansion of strict 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 mired today. Yet, with financial history for us to learn from, we have not acquired any practical lesson from the 1930’s Great Depression.
The Administration has attempted to tax the U.S. out of a recession, right into stagflation. We suffer from a lack of decent, private-industry jobs, amidst higher prices. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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