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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (44404)7/28/2010 3:20:34 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Re: [As for the supply-siders, it should be noted that neither Herbert Hoover nor the supply side patron saint, Treasury Secretary Andrew Mellon, committed the heresy of raising the tax burden, either. In 1929 Federal revenues were 3.7% of GNP and declined to 3.2% in 1932]

Re: "Smoot Hawley was a tax increase (tariffs are taxes),"

I would argue that tariffs are too, but from the way their language refers to "tax burden" I would suspect that they were only talking about *direct* taxes on American citizens, and not indirect.

I agree though that indirect assessments such as tariffs to a large degree pass-through and that the differences in kind (although real) are also largely semantic if and when one comes to consider such things as "total burdens".

Tariffs though --- largely being accessed against foreigners and not natives (and thus of 'indirect' impact...) *are* of a different nature. They probably wanted to focus their discussion more sharply though....

Re: "and there where later tax increases signed in to law by Hoover and then by FDR."

Also true... but their use of the phrase "1929 - 1932" would seem to indicate that THAT was the period they were discussing... and not later years. :-)
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