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Politics : To be a Liberal,you have to believe that.....
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To: American Spirit who wrote (6367)5/17/2006 8:35:50 PM
From: TimF  Read Replies (1) of 6418
 
Stock markets have crashed before and since. You didn't have the great depression. In the 1800s you had many "Panics" where the markets crashed and economic activity slowed down. But without the trade war, higher income taxes, and heavy regulation that the government imposed in the 30s the economies recovered much faster than the over a decade period it took to recover from the great depression.

1932 was 3 years later,

It wasn't the first large negative government act that contributed to the depression. Smoot Hawley came before the income tax increase. But it did help extend the depression.

Maybe doubling taxes wasn't such a good idea. But Hoover has generally been known as the worst prez of the 20th century

It was a horrible idea. Only exceeded by FDR's later large increase of rates to 90%.

As for FDR, his programs set up the largest economic recovery and expansion in world history.

Yup. He set up a huge expansion by creating a contraction followed by stagnation. Its easier to expand from a lower point.

Roosevelt was a great courageous deeply-caring president

Maybe he was. He wasn't bad as a wartime president. Neither idea changes the fact that he instituted the worst economic policies in the history of our nation.

Tim
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