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Government stimulus, not WWII, got us out of the Great Depression

By       Message Charles Kelly       (Page 1 of 1 pages)     Permalink    (# of views)   5 comments

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opednews.com Headlined to H2 10/23/12

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Republicans have done a fabulous job of conning the voting public into believing that WWII got us out of the depression.

A  video clearly demonstrates that it was actually President Roosevelt's progressive economic programs that he began in 1932 that did it. Those policies benefitted our country for the next 50 years. They not only got us out of the Great Depression, they helped us create the biggest and most vibrant middle class in history.

Then, in 1980, Republicans began reversing the process--and began the decline of the middle class. A chart of three variables since 1930--the national deficit, the top income tax rate, and the top inheritqance tax rste--indicates what political policies create debt and which policies reduce debt.

The major conclusions: When government reduces taxes on those benefitting most from an econdomy, the deficit increases. When workers' wages stagnate or decline, to the point where many don't make enough money to pay taxes, the deficit explodes.

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When government has a progressive tax on those benefitting most from society, the deficit goes down. When workers' wages are increasing, and they pay more taxes, the deficit goes down.

 

You can watch the video and get the chart by going to "Government stimulus, not WWII, got us out of the Great Depression."

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Purdue Ph.D. in industrial communications. Retired college professor and management consultant. Author of The Destructive Achiever--power and ethics in the American Corporation; The Great Limbaugh Con and other right-wing assaults on common sense; (more...)
 

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Government stimulus, not WWII, got us out of the Great Depression